Single Tenant Solutions - LoopNet...and one head in bay, on ± 0.5 acres of land at the SW corner of West Broadway (Highway 2) and 19th Street SW. Jiffy Lube is conveniently located

The Silver Group1050 Northgate Drive #500San Rafael, CA 94903 www.thesilver-group.com

Single Tenant Solutions

Barry SilverEmail: [email protected]: (415) 461 - 0600

Greg Cunha Email: [email protected]: (415) 461 - 0600

Jiffy Lube Service Center40 19th Street SW, Forest Lake, Minnesota 55025

• TEAM CAR CARE, LLC • LARGEST JIFFY LUBE FRANCHISE

• ATTRACTIVE HIGH QUALITY CONSTRUCTION• NNN LEASE - NO LANDLORD RESPONSIBILITY• NEAR HOME DEPOT, MENARDS, CUB FOODS

• 10% RENT INCREASE IN JUNE 2019

SINGLE TENANT JIFFY LUBE20 MILES NORTH OF MINNEAPOLIS

Actual Property Photo

The Silver Group • Phone: (415) 461 - 0600



Investment Summary -

The information contained herein has been received from sources we believe to be reliable, but we have made no independent investigation of the accuracy or completeness and make no representation thereto. The above is subject to errors, omissions, or withdrawal from the market. THIS IS NOT AN EXCLUSIVE OFFERING OF THE SILVER GROUP.

Annual Rent:

Option Rent:

Land Area: ± 0.49 Acres (± 21,344 SF)Building Area: ± 2,622 SF

Population: 29,184 5 milesAverage HH Income: $96,887 5 miles

Purchase Price: $1,726,000Initial Cap Rate: 6.5%

Rent Commenced: June 1, 2004

The subject property is a single tenant Jiffy Lube Service Center located in the north Minneapolis suburb of Forest Lake, Minnesota. The Property consists of a ± 2,622 sf building with 3 drive through bays and one head in bay, on ± 0.5 acres of land at the SW corner of West Broadway (Highway 2) and 19th Street SW. Jiffy Lube is conveniently

located off Interstate 35, near numerous auto dealerships including Whitaker Buick / GMC, Wilcox Dodge / Jeep and Forest Lake Chevrolet / Cadillac. This area is the retail hub for the surrounding communities with leading retailers such as Home Depot, Menard’s, Cub Foods, Walmart, Aldi & Target. Forest Lake is located 23 miles north of Minneapolis along Interstate 35 and has a population of approximately 30,000. Jiffy Lube was a build to suit development for Heartland Automotive Services, who was acquired by Wynnchurch Capital in early 2018. Now operating as Team Car Care, the company is the largest Jiffy Lube franchise in the United States with 523 locations. The population in a 3 mile radius of Jiffy Lube is projected to grow by 10.2% over the next 5 years while the average household incomes are expected to grow by 17%. Jiffy Lube Forest Lake is an ideal property for an investor seeking management free cash flow.

$112,196 Years 11 - 15$123,415 Years 16 - 20 (+10%)

$138,757 Years 21 - 25 (+10%)$149,333 Years 26 - 30 (+10%)$164,266 Years 31 - 35 (+10%)$180,693 Years 36 - 40 (+10%)

Lease Terms:• Original Twenty Year term with 5.5 years remaining• ABSOLUTE NET LEASE (No Landlord Responsibilities)• Rents increase by 10% every 5 years• Four x 5 year renewal options

Cap Rate on June 1, 2019: 7.15%




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Distance - 23 miles

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Tenant / Area Info -

Team Car Care, LLC (formerly known as Heartland Automotive Services), headquartered in Irviing, Texas, is the market leader in the quick oil change segment of the “Do It For Me” automotive aftermarket. Team Car Care has grown to be the largest operator and franchisee of the highly recognizable Jiffy Lube brand, currently operating 523 stores across 26 states. The Company

was acquired by Wynnchurch Capital in February 2018. Wynnchurch brings their skilled management team and fresh capital to improve operations and grow the company. Wynnchurch Capital is a $2.2 billion dollar private equity firm with investments in Automotive, Aerospace, Building Products, Consumer Products, Energy, Healthcare and Industrial Products.The American quick lube industry provides more than 100 million oil changes every year from over 10,000 standalone locations. Within this industry, there is one dynamic growing company that stands out from the rest - Team Car Care dba Jiffy Lube, the largest franchisee of quick lube retail service stores in the country operating 523 Jiffy Lube locations from coast to coast and serving nearly 5 million guests each year with more than 3,500 professional teammates, Our vision is to be trusted by consumers and recognized by our peers as the BEST place for quick, professional vehicle care within the neighborhoods we serve. We strive to do this by exceeding every guests’ expectation, on every visit, with consistent “Signature Service” delivered through our committed organization of friendly, knowledgeable and professional teammates.Our company is committed to leading the quick lube industry with clean, safe and attractive facilities; well trained and courteous teammates; respect for the environment and recycling; and by providing the highest quality products and important vehicle maintenance services to ensure we are the first choice of every consumer.

ABOUT THE TENANT• Heartland Automotive Services, Inc d/b/a

• Team Car Care, LLC• Largest Jiffy Lube franchisee in the U.S.• Operating 523 locations in 26 states

ABOUT FOREST LAKE, MINNESOTAForest Lake, Minnesota is a rapidly growing, attractive, suburban community located in the northwestern corner of Washington County. The City is conveniently located off Highways 35E and 35W and is part of the Twin Cities metropolitan statistical area. In addition to the beauty of the lakes, residents are fond of agricultural pursuits, the small-town feel and family-friendly amenities.

The City has a variety of facilities for youth and adult activities including a new sports center for hockey and skating, ball fields and 3 golf courses. The City hosts many parks with various amenities including a swimming beach, playgrounds, picnic facilities, hiking and biking trails, horseback riding facilities and snowmobile trails.

Settlement of the Forest Lake area occurred initially as a result of the construction of the St. Paul and Duluth Railroad completed in 1869. Growth in the City and surrounding township was fueled by the development of summer lake homes on the shores of the area’s lakes, particularly on Forest Lake and Clear Lake. Over time, a commercial district developed along with community facilities such as parks and schools. The lake home village matured into the City it is today as cabin owners turned their property into year-round residences. Steady residential and commercial growth occurred from the 1970’s through the 1990’s and in 2001 the City and Township combined into one City. Today, a significant portion of the working households commute to the inner-cities for jobs. A regional transportation center provides commuter bus service to Minneapolis and St. Paul.




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Single Tenant Solutions - LoopNet...and one head in bay, on ± 0.5 acres of land at the SW corner of West Broadway (Highway 2) and 19th Street SW. Jiffy Lube is conveniently located