August 25, 2022 – Jack Laurendeau of Horvath & Tremblay has successfully completed the sale of a Jiffy Lube in Lake Worth, Florida. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,000,000.
Jiffy Lube is located at 4000 South Military Trail in Lake Worth, Florida. The stand-alone building consists of 2,150 square feet and sits on a 0.20-acre lot. Jiffy Lube signed a new 10-Year Absolute NNN Lease with eight (8) 5-Year renewal options at the close of escrow. The lease calls for 7.5% rent increases every 5-years throughout the base term and at the start of each renewal option period. The property is extremely well located at the signalized intersection of S Military Trail and Lake Worth Road, the area’s two primary commercial and commuter corridors. The Property benefits from outstanding visibility along both thoroughfares and sees more than 85,000 vehicles per day at the intersection. The Property is located in a dominant retail trade area and is surrounded by large shopping centers and numerous national retailers and restaurants driving traffic to the area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.