Jiffy Lube | Absolute Net Lease with Low Rent and 3%… — Sale in Bellingham, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Bellingham, WA 98225

Investment Figures

Cap rate
5.51%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale the #1 ranked Jiffy Lube in Bellingham, WA; ranked in the top 16% of all Jiffy Lube locations nationally (per Placer.ai). The property has been secured by an absolute net lease with zero landlord responsibilities since 2004 and has more than 6 years remaining on a 10-year lease extension signed in 2022, with rare 3% annual rent increases. With a current rent of just $16.88/SF NNN — well below the $30+/SF NNN market rate for quick lube properties — the investment offers low operating cost for the tenant significant future rental upside for the landlord. The property is operated by Team Car Care, the largest Jiffy Lube franchisee in the US with 550+ locations nationwide. Originally built as a quick lube facility in 1965, the site has operated successfully as a Jiffy Lube for more than 20 years, with Team Car Care acquiring operations in 2022 and demonstrating continued long-term commitment to the location. Situated at the signalized hard corner of Cornwall Ave and Champion Street (10,600+ VPD) in downtown Bellingham, the property offers prominent signage and easy ingress and egress from both streets. The surrounding trade area includes 155,000+ residents within 10 miles with average household incomes exceeding $102,000, supported by approximately 7% population growth since 2020 — making Bellingham one of the fastest-growing secondary markets in Washington. Investment Highlights: • #1 Jiffy Lube in Bellingham and Top 16% Nationally (Placer.AI) • 6+ Year Lease | New 10-Year Extension in 2022 • Absolute Net Lease • Largest Jiffy Lube Franchisee (500+ Locations) • Rare 3% Annual Rent Increases • Low Rent Location ($16.93/SF NNN) • Strong Historical Occupancy (20+ Years) • High Visibility, Signalized Corner Location

Market Context

This retail in Bellingham, WA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 101 days. Compare it against other retail listings for sale in Bellingham, WA — view the full market.

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