Jiffy Lube – Sarasota, FL

Jiffy Lube – Sarasota, FL

Jiffy Lube – Sarasota, FL
8624 South Tamiami Trail
Sarasota, FL 34238

$1,091,000

Cap Rate 7.00%
Gross Leasable Area (GLA) 3,565 Square Feet
Price Per Square Foot (GLA) $306
Year Built 1996
Lot Size 0.33 Acres
  • Brand New 10 Year Lease Term
  • Long Term Operator
  • Long Established 20 Franchisee
  • 77,000 People with 5 Mile Radius
  • $86,000 Per Year Avg. Household Income
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Jiffy Lube – Sarasota, FL (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to exclusively present this net-leased Jiffy Lube located in Sarasota, Florida. The tenant recently opted to execute a new 10 year lease in lieu of an available 5 year option period – showing their commitment and success at this location.

The subject property is operated by South Bay Lube, Inc. a 20 unit Jiffy Lube operator with stores in west and central Florida. South Bay Lube, Inc has more than 15 years experience in the automotive industry.

The property is located on US 41 with an affluent average household income of over $86,000 per year within a 3 mile radius. US 41, also known as Tamiami Trail, is the main North-South highway along the west coast of Florida. As a result, a substantial traffic count of over 45,000 cars per day pass in front of the subject property.

Despite being located along the Florida’s west coast, this Jiffy Lube benefits from a population of over 77,000 people within a five mile radius.

For More Information, Please Contact:

James Medefind

Senior Associate
813-387-4788
james.Medefind@marcusmillichap.com