Representative Photo Jiffy Lube 5600 N Dixie Dr, Dayton, OH 45414 OFFERING MEMORANDUM
CONFIDENTIALITY & DISCLAIMER STATEMENT This Marketing Brochure contains select information pertaining to the business and affairs of Jiffy Lube located at 5600 N Dixie Dr, Dayton, OH 45414 here to referred to as Property. Information in this Marketing Brochure is confidential and provided solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose and may not be made available to any other person without the written consent of the Seller or Matthews Retail Group, Inc. This Marketing Brochure has been prepared by Matthews Retail Group, Inc. (also known as Matthews Retail Advisors) based in part upon information supplied by the Seller and in part upon financial information obtained from sources deemed reliable by Matthews Retail Group, Inc. However, Matthews Retail Group, Inc. has not and will not verify any of this information, nor has Matthews Retail Group, Inc. conducted any investigation regarding these matters. Matthews Retail Group, Inc. makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. It is the Buyer s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for the Buyer s thorough due diligence investigation of this investment opportunity. Matthews Retail Group, Inc. expressly denies any obligation to conduct a due diligence examination of this Property for the Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this Property. The value of a net leased property to the Buyer depends on factors that should be evaluated by the Buyer and their tax, financial and legal advisors. Buyer and Buyer s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any property to determine to their satisfaction the suitability of the Property for their investment goals. Like all real estate investments, this investment carries significant risks. Buyer and Buyer s legal and financial advisors must request and carefully review all legal and financial documents related to the Property and tenant. While the tenant s past performance at this or other locations is an important consideration, it is not a guarantee of future performance. 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, Buyer 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 Buyer may be able to negotiate with a potential replacement tenant considering the location of the Property, and Buyer s legal ability to make alternate use of the Property. By accepting this Marketing Brochure you agree to release the Seller and Matthews Retail Group, Inc. of any and all liability and hold the parties harmless from any kind of claim, cost, or expense arising out of your investigation and/or purchase of this Property. NON-ENDORSEMENT NOTICE Matthews Retail Group, Inc. is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this Marketing Brochure. The presence of any corporation s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Matthews Retail Group, Inc., its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Matthews Retail Group, Inc., and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
TABLE OF CONTENTS PRICING AND FINANCIAL ANALYSIS Investment Overview............................. 2 Financial Overview.............................. 3 Company Overview.............................. 4 PROPERTY DESCRIPTION Property Overview............................... 6 Bird s Eye.................................... 7 Aerial...................................... 8 Tenant Map................................... 9 Regional Map..................................10 DEMOGRAPHICS Demographics Report............................. 12 City Overview................................. 13 PRESENTED BY Dalton Barnes Associate License No. 01984625 O 310.919.5791 M 925.234.1772 dalton.barnes@matthews.com Braden Crockett Senior Associate License No. 01946071 O 310.919.5814 M 714.345.6206 braden.crockett@matthews.com Laurence Bergman Broker of Record License No. 348029
Representative Photo
PRICING AND FINANCIAL ANALYSIS
Investment Overview INVESTMENT HIGHLIGHTS PROPERTY DETAILS Bite-sized deal at $600,000 at an attractive 9% cap rate No maintenance investment - Absolute NNN lease Rare 10 year options for renewal at end of the lease LOCATION Ideally located just 1/2 mile from Hwy 75 which sees 99,000 VPD Primary quick-lube location for the Northern Dayton, OH market Dense population in surrounding area with roughly 50,000 people in the 3-mile radius and 170,000 people in the 5-mile radius Located in close proximity to synergistic national retailers such as: Kroger, Chase, Family Dollar, Dollar General, Dollar Tree, Church s Chicken, O Reilly & Advance Auto Parts TENANT E-commerce and recession proof investment Guaranteed by Lucor Inc. - one of the largest Jiffy Lube franchisees with +175 locations 2
Financial Overview EXECUTIVE SUMMARY 5600 N Dixie Dr Dayton, OH 45414 List Price............................... $600,000 Gross Leasable Area......................... 2,317 SF CAP Rate - Current............................ 9.00% Year Built.................................. 1985 Lot Size........................ ± 0.38 Acres (16,552 SF) ANNUALIZED OPERATING DATA Monthly Rent Annual Rent CAP Rate Current - 12/31/2018 $4,500 $54,000 9.00% TENANT SUMMARY Tenant Trade Name Type of Ownership Lease Guarantor Lease Type Jiffy Lube Fee Simple Franchisee NNN Roof and Structure Tenant Responsible Original Lease Term 20 Years Lease Commencement Date 8/1/1995 Rent Commencement Date 8/1/1995 Lease Expiration Date 12/31/2018 Term Remaining on Lease Increases Options ± 2.24 years Rent Negotiable at Renewal Two (2), Ten (10) year Representative Photo 3
Company Overview Tenant Jiffy Lube Company Name Jiffy Lube International, Inc. Ownership Private No. of Locations ± 2,100 No. of Employees ± 6,538 Headquartered Houston, Texas Web Site www.jiffylube.com Year Founded 1979 A leading provider of oil changes, Jiffy Lube doesn t expect to see its customers every day -- but about every three months or 3,000 miles. The company boasts more than 2,100 outlets throughout North America that are mostly franchised. The rest of its locations are company-owned and operated. Besides oil changes, Jiffy Lube facilities provide maintenance services for air conditioning, fuel systems, and transmissions. At some of its locations, it also performs inspections and emissions testing, repairs windshields, and rotates tires. The company serves vehicle fleet operators, as well as individual consumers. Jiffy Lube, which is a subsidiary of Shell Oil Company, was founded in 1979. Jiffy Lube grew from about 10 service centers in 1980 to about 1,000 centers in 1990, when it was acquired by Pennzoil. In 1998 Pennzoil merged with Quaker State, which had its own network of Q-Lubes that were later renamed as Jiffy Lube. In 2002 Royal Dutch Shell subsidiary Shell Oil acquired Pennzoil-Quaker State. Today, the company is the largest system of franchised service centers in North America. 4
PROPERTY DESCRIPTION
Property Overview THE OFFERING Property Name............................ Jiffy Lube Property Address...................... 5600 N Dixie Dr Dayton, OH 45414 Assessor s Parcel Number................. E21-17604-0003 SITE DESCRIPTION Number of Stories............................. One Year Built.................................. 1985 Gross Leasable Area (GLA)...................... 2,317 SF Lot Size....................... ± 0.38 Acres (16,552 SF) Type of Ownership......................... Fee Simple Parking.......................... ± 10 Surface Spaces Parking Ratio.......................... 4.32 : 1,000 SF Landscaping............................... None Topography........................... Generally Level CONSTRUCTION Foundation........................... Concrete Slab Framing................................... Steel Exterior.............................Concrete Block Parking Surface.............................Asphalt Roof..................................... Flat Representative Photo 6 PROPERTY DESCRIPTION
Bird s Eye Needmore Rd ± 24,000 ADT N Dixie Dr ± 16,000 ADT 7
Highway 75 ± 99,000 ADT Aerial Needmore Rd ± 24,000 ADT 8
Tenant Map PROPERTY DESCRIPTION 9
Regional Map 10
DEMOGRAPHICS
Demographics Report Population 1-Mile 3-Mile 5-Mile 2021 Projection 7,243 47,486 167,129 2016 Estimate 7,218 48,168 168,744 2010 Census 7,240 49,504 171,983 2000 Census 7,338 56,562 191,292 Households 2021 Projection 2,977 20,900 71,380 2016 Estimate 2,976 21,059 71,613 2010 Census 2,999 21,356 72,024 2000 Census 3,059 24,410 78,780 Income $0 - $15,000 29.07% 22.15% 21.47% $15,000 - $24,999 17.78% 15.25% 14.61% $25,000 - $34,999 13.36% 14.60% 13.05% $35,000 - $49,999 10.59% 15.40% 14.50% $50,000 - $74,999 17.62% 15.90% 15.57% $75,000 - $99,999 5.05% 6.96% 8.48% $100,000 - $124,999 2.54% 4.04% 5.41% $125,000 - $149,999 1.46% 2.37% 3.02% $150,000 - $199,999 1.49% 1.71% 2.15% $200,000 - $249,999 0.53% 0.70% 0.77% $250,000 - $499,999 0.42% 0.72% 0.76% $500,000+ 0.10% 0.20% 0.22% 2016 Est. Average Household Income $39,617 $47,362 $51,011 2016 Est. Median Household Income $27,360 $33,631 $35,905 12 DEMOGRAPHICS
City Overview DAYTON, OH Known as the Gem City, Dayton is located in Western Ohio, and is the sixth largest city in Ohio. The Dayton metropolitan area has approximately 841,000 residents. Dayton is the hometown of the Wright brothers, aviation pioneers who are credited with inventing and building the world s first successful airplane. Dayton also plays a role in a nickname given to the state of Ohio Birthplace of Aviation. Dayton s economy is relatively diversified and vital to the overall economy of the state of Ohio. Dayton was ranked by Site Selection magazine as the No. 1 mediumsized metropolitan area in the U.S. for economic development. Dayton is also among the top 100 metropolitan areas in both exports and export-related jobs, ranked 16 and 14 respectively by the Brookings Institution. The Dayton area is a logistical centroid for manufacturers, suppliers, and shippers. Dayton also plays host to significant research and development in fields like industrial, aeronautical, and astronautical engineering that have led to many technological innovations. Much of this innovation is due in part to Wright-Patterson Air Force Base and its place within the community. Wright-Patterson Air Force Base is one of the largest air base wings in the Air Force. The installation generated a Total Economic Impact in the Dayton area of $4.67 billion in fiscal year 2011. # Employer # of Employees 1 Premier Health Partners 14,135 2 Montgomery County 4,559 3 Sinclair Community College 2,726 4 Dayton Public Schools 2,574 5 University of Dayton 2,191 6 City of Dayton 1,950 7 Grandview Medical Center 1,918 8 Dayton VA Medical Center 1,914 9 Dayton Children s Medical Center 1,335 10 BEHR Dayton Thermal 1,022 13
Jiffy Lube 5600 N Dixie Dr, Dayton, OH 45414 OFFERING MEMORANDUM Dalton Barnes Associate License No. 01984625 O 310.919.5791 M 925.234.1772 dalton.barnes@matthews.com Braden Crockett Senior Associate License No. 01946071 O 310.919.5814 M 714.345.6206 braden.crockett@matthews.com Laurence Bergman Broker of Record License No. 348029 841 Apollo Street, Suite 150 El Segundo, CA 90245 www.matthews.com