Jiffy Lube MO Independence PKG 17 1220 - ciadvisor.com · TENANT Heartland Automotive Services II,...

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JIFFY LUBE 19500 EAST U.S. HIGHWAY 40 INDEPENDENCE, MISSOURI 64055 ACTUAL SITE Represented by: JUSTIN ZAHN 7825 East Gelding Drive, Suite 104 Scottsdale, Arizona 85260 480.214.5088 x 102 – Direct [email protected] | www.ciadvisor.com In Association with Missouri Local Broker: King Realty Advisors OFFERING MEMORANDUM

Transcript of Jiffy Lube MO Independence PKG 17 1220 - ciadvisor.com · TENANT Heartland Automotive Services II,...

JIFFY LUBE19500 EAST U.S. HIGHWAY 40INDEPENDENCE, MISSOURI 64055

ACTUAL SITE

Represented by:JUST IN ZAHN

7825 East Gelding Drive, Suite 104Scottsdale, Arizona 85260

480.214.5088 x 102 – [email protected] | www.ciadvisor.com

In Association with Missouri Local Broker:King Realty AdvisorsOFFERING MEMORANDUM

JIFFY LUBEINDEPENDENCE, MISSOURI

NAME JIFFY LUBE

LOCATION 19500 East U.S. Highway 40Independence, Missouri 64055

MAJOR CROSS STREETS On E US Hwy 40, East of Little Blue Pkwy

TENANT HEARTLAND AUTOMOTIVE SERVICES II, INC.

GUARANTOR HEARTLAND AUTOMOTIVE HOLDINGS, INC.

PURCHASE PRICE $1,280,000

CAP RATE 7.50%

ANNUAL RENT $96,017*

GROSS LEASEABLE AREA 4,073 SF (1st Floor: 2,575 SF | Basement: 1,498 SF)

RENTAL ESCALATIONS 10% Every 5 Years and In Options

LEASE TYPE Absolute NNN

OWNERSHIP (Building & Land) Fee Simple

YEAR BUILT 2004

LOT SIZE ±0.52 Acre

LEASE EXPIRATION January 31, 2024

OPTIONS Four 5-Year Renewal Options

R E T A I L | S H O P P I N G | E N T E R T A I N M E N TNearby retailers include Costco Wholesale, Lowe’s Home Improvement, Bass Pro Shops, Walmart, Sam’s Club, Target, JCPenney, Kohl’s, Best Buy, Ross Dress for Less, Marshalls, Independence Mall (anchored by Dillard’s, Macy’s, Dick’s Sporting Goods & Sears), Cost Plus World Market, Bed Bath & Beyond, etc.1 mile from Silverstein Eye Centers Arena (a 5,800-seat multi-purpose arena, currently hosting the home games of the Kansas City Mavericks & Kansas City Comets, and also hosting more than 100 events including trade shows, professional sporting events, festivals, etc.

HEALTH CARE (GENERAL MEDICAL & SURGICAL HOSPITAL)2 miles from Centerpoint Medical Center (366 beds)

LEASE6 Years Remaining on Initial 20-Year Absolute NNN Lease with 10% Rental Escalations Every 5 Years in Four 5-Year OptionsTENANTHeartland Automotive Services is the LARGEST Jiffy Lube Franchisee in the U.S. and Operates Over 540 Jiffy Lube Locations in 26 States!TRAFFIC COUNTSHigh Drive-by Visibility - Uniquely Positioned on U.S. Hwy 40 (Main East/West Thoroughfare) just off the Hard Corner where Traffic Counts Exceed 29,880 CPD!STRONG DEMOGRAPHICSTotal Population (5-MI): 119,321 | Avg HH Income (1-MI): $91,828Population Growth 2010-2017 (1-MI): 9.11%

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

* Current Rent is $84,000 until September 30, 2018. Seller to credit Purchaser shortfall (if any) in rent at the Close of Escrow.

INVESTMENTO V E R V I E WI N V E S T M E N T H I G H L I G H T S

P O I N T S O F I N T E R E S T

TENANT Heartland Automotive Services II, Inc.

GUARANTOR Heartland Automotive Holdings, Inc.

LIST PRICE $1,280,000

LIST CAP RATE 7.50%

GROSS LEASABLE AREA 4,073 SF (1st Floor: 2,575 SF | Basement: 1,498 SF)

YEAR BUILT 2004

LOT SIZE ±0.52 Acre

EXPENSE REIMBURSEMENT

This is an Absolute NNN lease. Tenant is responsible for all expenses.

FINANCING All Cash or Buyer to obtain new financing at Close of Escrow.

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

TENANT INFO LEASE TERMS RENT SUMMARY

TENANT NAME SQ FT TERM INCREASE RENT ANNUAL INVESTOR RETURN

Heartland Automotive Services II, LLC 4,073 05/01/15 to 09/30/18* Current $96,017 7.50%

10/01/18 to 01/31/24 10% $96,017* 7.50%

7.50% AVG ANNUAL RETURN

RENEWAL OPTIONS 1st Option: 02/01/24 to 01/31/29 10% $105,619

2nd Option: 02/01/29 to 01/31/34 10% $116,181

3rd Option: 02/01/34 to 01/31/39 10% $127,799

4th Option: 02/01/39 to 01/31/44 10% $140,578

* Current Rent is $84,000 until September 30, 2018. Seller to credit Purchaser shortfall (if any) in rent at the Close of Escrow.

JIFFY LUBEINDEPENDENCE, MISSOURIFINANCIALA N A L Y S I S

S U M M A R Y

R E N T R O L L

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

Jiffy Lube® International, is a leading provider of automotive preventive maintenance. With anational footprint of more than 2,000 franchisee owned service centers across the country,Jiffy Lube offers a range of services from oil changes and tire rotations, to everything inbetween.Jiffy Lube® pioneered the fast oil change industry more than 35 years ago. Today, more than 20million customers every year rely on Jiffy Lube to keep their vehicles running the way yourvehicle manufacturer intended. It’s the mission of everyone at Jiffy Lube to go beyond oilchanges alone, to help alleviate the anxiety that routine vehicle maintenance can bring. JiffyLube is committed to keeping your vehicle running right for the long haul, so you can LeaveWorry Behind®.Headquartered in Houston, Jiffy Lube is a wholly owned, indirect subsidiary of Shell OilCompany.

Heartland Automotive ("Heartland" dba Jiffy Lube®) is the largest Jiffy Lube franchisee andthe largest independent quick lube operator in the United States.Headquartered in Dallas, Texas, the company operates over 540 quick-oil-change stores in26 states and serving nearly 5 million guests each year with more than 3,500 professionalteammates. Heartland has continuously operated Jiffy Lube stores (through its affiliatedpredecessor companies) since 1980.In 1995, Heartland Automotive Services was formed when five independent Jiffy Lubefranchises in St. Louis, Minneapolis, Kansas City, Austin and Omaha banded together to sharebest practices and leverage their size to provide better value to their customers. From thishumble beginning of 66 stores, Heartland has grown to an entity serving more than 5 millionvehicles annually.

JIFFY LUBEINDEPENDENCE, MISSOURITENANTO V E R V I E W

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

JIFFY LUBEINDEPENDENCE, MISSOURISITEP H O T O S

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

JIFFY LUBEINDEPENDENCE, MISSOURISURVEY

MO291/I‐47078,469CPD

I‐70106,131CPD

USRoute4024,413CPD

AERIAL

J I F F Y L U B E | I N D E P E N D E N C E , M I S S O U R I

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

SYCAMORE HILLS ELEMENTARY

WILLIAM YATES ELEMENTARY

I N D E P E N D E N C E M A L LA 866,000 SF SHOPPING CENTER ANCHORED

BY DILLARD’S, MACY’S, DICK’S SPORTING GOODS & SEARS W/ OVER 130 RETAIL SHOPS

P A V I L I O N S A T H A R T M A N H E R I T A G EPARTY CITY, DAVID’S BRIDAL, COST PLUS WORLD MARKET, BED BATH & BEYOND, BUYBUY BABY, HALF PRICE BOOKS,

BEAUTY BRANDS, BUFFALO WILD WINGS, ON THE BORDER MEXICAN GRILL & CANTINA, TWIN PEAKS, ETC.

C E N T E R P O I N T M E D I C A L C E N T E RA GENERAL MEDICAL & SURGICAL HOSPITAL W/ 366 BEDS

I N D E P E N D E N C E C O M M O N SKOHL’S, SALLY BEAUTY, ROSS DRESS FOR LESS,

MARSHALLS, FIVE BELOW, SHOE CARNIVAL, BEST BUY, BARNES & NOBLE, AMC THEATRES, AT&T, FAZOLI’S, SMOKEHOUSE BARBECUE, CHILI’S GRILL & BAR, ETC.

I‐70106,131CPD

MO291/I‐47078,469CPD

USRoute4024,413CPD

HIDDEN VALLEY SPORTS COMPLEX

AMERICAN LEGION BASEBALL

AERIALZ O O M E D O U T

J I F F Y L U B E | I N D E P E N D E N C E , M I S S O U R I

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

K A N S A S C I T Y

MISSO

URI

KANSAS

MISSO

URI

KANSAS

AERIALM E T R O P O L I T A N V I E W

J I F F Y L U B E | I N D E P E N D E N C E , M I S S O U R I

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

Independence is the county seat of Missouri’s JacksonCounty. It is the 5th largest city in Missouri. Independenceis a satellite city of Kansas City, and is part of the KansasCity metropolitan area. Independence is known as the"Queen City of the Trails” because it was a point ofdeparture for the California, Oregon, and Santa Fe Trails.Independence Top 5 Employers: 1) Independence SchoolDistrict; 2) Orbital ATK; 3) Centerpoint Medical Center; 4)City of Independence; and 5) Government Employee HealthAssociation

7825 EAST GELDING DRIVE | SUITE 104 | SCOTTSDALE, AZ 85260 | WWW.CIADVISOR.COMThe information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

COMMERCIAL INVESTMENT ADVISORS, INC.JUSTIN ZAHN | 480.214.5088 X 102 O | 402.730.6021 C | [email protected]

2017 DEMOGRAPHICS1-MI 3-MI 5-MI

TOTAL POPULATION 4,110 45,616 119,321

POP. GROWTH 2010-2017 9.11% 3.17% 2.23%

DAYTIME POP. 4,013 43,953 111,638

HH GROWTH 2010-2017 8.92% 3.17% 2.36%

AVG HH INCOME $91,828 $82,932 $76,118

M I S S O U R I

K A N S A S

Kansas City, or K.C., is the largest city in the state ofMissouri.The federal government is the largest employer in theKansas City metro area. More than 146 federal agenciesmaintain a presence there. Kansas City is one of tenregional office cities for the US government.Several companies are currently headquartered in KansasCity, Missouri: American Century Investments, Applebee’s,Blue Cross and Blue Shield of Kansas City, BoulevardBrewing Company, Children International, Hallmark Cards,H&R Block, Hostess Brands, Lockton Companies, RussellStover Candies, UMB Financial Corporation, WaltonConstruction, etc.Top 5 Employers in Kansas City: 1) Public School Systems;2) Federal Government; 3) State/County/City Government;4) Cerner Corporation; and 5) HCA Midwest Health System

MISSO

URI

KANSAS

JIFFY LUBEINDEPENDENCE, MISSOURILOCATIONO V E R V I E W

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Commercial

Investment Advisors, Inc. and should not be made available to any other person or entity without the written consent of Commercial Investment Advisors, Inc. This Marketing

Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The

information contained herein is not a substitute for a thorough due diligence investigation. Commercial Investment Advisors, Inc. has not made any investigation, and makes no

warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage

of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical

condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject

property. Any projections, opinions, assumptions or estimates used in the Marketing Brochures are for example only and do not represent the current or future performance

of any property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Commercial Investment Advisors, Inc. has

not verified, and will not verify, any of the information contained herein, nor has Commercial Investment Advisors, Inc. conducted any investigation regarding these matters and

makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Like all real estate investments, all of these investment

carries significant risks. Purchaser and Purchaser’s legal and financial advisors must request and carefully review all legal and financial documents related to the properties

and tenants. While the tenant’s past performance at these locations or other locations is an important consideration, it is not a guarantee of future success. Similarly, the

lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of

actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail

to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless

of tenant history and lease guarantees, Purchaser is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the

value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms

that Purchaser may be able to negotiate with a potential replacement tenant considering the location of the property, and Purchaser’s legal ability to make alternate use of

the property. All potential buyers must take appropriate measures to verify all of the information set forth herein.

BY ACCEPTING THIS MARKETING BROCHURE YOU AGREE TO RELEASE CIA BROKERAGE COMPANY/COMMERCIAL INVESTMENT ADVISORS, INC. HOLD ITHARMLESS FROM ANY KIND OF CLAIM, COST, EXPENSE, OR LIABILITY ARISING OUT OF YOUR INVESTIGATION AND/OR PURCHASE OF ANY PROPERTY.

CONFIDENTIALITYA G R E E M E N T

J U S T I N Z A H NVice PresidentO +1 480 214 5088 x 102C +1 402 730 [email protected]

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