Jiffy Lube 640 N Wayne St 2,068 SF Retail Building Angola, IN 46703 $1,607,000 ($777.08/SF) 7.25% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Jiffy Lube property located in Angola, Indiana. The property has been operating successfully as a quick-service oil change center since June 2007, when the lease began. The tenant, a 49-unit franchise, was recently acquired by an experienced, well-capitalized operator with prior experience. The current lease runs through July 2032 and is absolute triple net, placing no responsibilities on the landlord. The lease includes annual rental escalations of approximately 1.4% throughout the remaining primary term.
The 2,068 square-foot building is strategically located along North Wayne Street, which sees 16,400 vehicles per day and is occupied by numerous national retailers, including Menards, Meijer, Walmart Supercenter, ALDI, Rural King, AutoZone, O’Reilly Auto Parts, and more. The property benefits from its proximity to key thoroughfares, including US Highway 20 and Interstate 69, which sees 23,000 vehicles per day. Additionally, it is less than one mile from Trine University, with 15,000 enrolled students, and Cameron Memorial Community Hospital. Notably, there is limited competition for quick-service oil changes in the area, further enhancing the property’s appeal.
Jiffy Lube, a subsidiary of Shell Oil Company, is a leading provider of automotive preventive maintenance services, with a primary focus on oil changes and a range of other automotive care services. Established in 1979, Jiffy Lube has grown into a trusted brand with over 2,000 franchisee-owned service centers across the United States and Canada. The company is renowned for its quick, customer-centric service model and its dedication to vehicle maintenance, which includes tire rotations, brake services, fluid replacements, and vehicle inspections.