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Jiffy Lube

4201 West Middlefield Road, Mountain View, CA, USA
$4,441,514 3.50% Cap 4,876 sq ft Actual Site Photo Print This Page

Location

4201 West Middlefield Road, Mountain View, CA, USA

Price: $4,441,514
Initial Cap Rate: 3.50%
Effective Cap Rate: 3.76%
Net Operatin Income: $155,453
Square Footage: 4,876
Lot Size: 0.34 AC
Market: Bay Area

100% Fee Simple InterestAbsolute NNN LeaseAnnual IncreasesCorporate GuaranteeExcellent Access and VisibilitySituated on a Hard CornerSurrounded by Major RetailersZero Landlord Obligations

The subject is a corporate Jiffy Lube with an absolute NNN Lease in Mountain View, California. The NNN lease includes 2.5% annual rent increases throughout the primary term and one, five-year renewal option. The lease is corporately guaranteed by Jiffy Lube International, Inc. with zero landlord obligations. The asset is well positioned on a major commercial thoroughfare on a hard corner, one mile from Googles headquarters. Jiffy Lube has over 25-years of operational history at this site.

Mountain View is a city in Santa Clara County, California in the heart of Silicon Valley. Mountain View houses the headquarters of many of the world’s largest technology companies, including Google and Alphabet Inc., Mozilla Foundation, Unicode Consortium, Intuit, NASA Ames research center, and major headquarter offices for Microsoft, Symantec, 23andMe, LinkedIn, Samsung, and Synopsys.

The Googleplex, located 1.5 miles away from Jiffy Lube, is the corporate headquarters complex of Google and its parent company, Alphabet, Inc. Spanning over 3 million square feet, Google operates in over 20 buildings on the property. Google has occupied this site since 2004, purchasing the property in a package deal from Silicon Graphics (SGI), for $319 million. Google has since expanded the site, adding 1.1 million square feet to the original 2 million, with the “Bay View” addition in 2013. In total, 2,800 full-time employees work at The Googleplex.

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