Are you interested in purchasing a fee simple single tenant Jiffy Lube triple net lease property for 1031 exchange?
We have access to a large inventory of Corporate Jiffy Lube net lease or nnn lease properties for sale. Please send an email to info@nnndeals.com with your Jiffy Lube 1031 exchange criteria and we will email you a short list of Jiffy Lube nnn lease or triple net lease properties for sale.
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About Jiffy Lube:
Jiffy Lube is a chain of over 2,000 businesses in North America offering oil changes and other automotive services. The company is based in Houston, Texas, and is a subsidiary of Shell Oil.[1]
Jiffy Lube was founded in the early 1970s, when Ed Washburn opened the first service center in Ogden, Utah. He began franchising shops throughout Utah until 1979,[2 ] when he was bought out by Jim Hindman, a millionaire nursing home developer. At the time Hindman purchased Jiffy Lube, he was working for free as the football coach at Western Maryland College. Reportedly, one of his players had challenged him to earn another million dollars.[3 ]
Jiffy Lube grew rapidly throughout the 1980s, from ten shops to about 1,000, and was acquired by Pennzoil in the early 1990s. In 1998, Pennzoil merged with Quaker State, whose Q-Lube oil service centers were then rebranded as Jiffy Lubes. Pennzoil-Quaker State was ultimately purchased by Shell Oil in 2002.
Triple Net investments are relatively easy and safe for investors to engage in, as they are hassle-free transactions with minimal costs, and present a minimal risk with strong tenants and long leases. At any time the investor can cash-out, often with a profit, by selling the property. The investor also can hold the property, allow it to further appreciate in market value, and lease it again at a higher rate to the original tenant or a new tenant when the lease term expires.
