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Jiffy Lube

15015 Hesperian Boulevard, San Leandro, CA, USA
$2,255,221 3.85% Cap 3,584 sq ft Actual Site Photo Print This Page

Location

15015 Hesperian Boulevard, San Leandro, CA, USA

Price: $2,255,221
Initial Cap Rate: 3.85%
Effective Cap Rate: 4.15%
Net Operating Income: $86,826
Square Footage: 3,584
Lot Size: 0.25 AC
Market: Bay Area

100% Fee Simple InterestAbsolute NNN LeaseAnnual IncreasesCorporate GuaranteeExcellent Access and VisibilityHeavily Trafficked LocationLocated on a Major Commercial ThoroughfareScheduled IncreasesSurrounded by Major RetailersZero Landlord Obligations

The subject is a corporate Jiffy Lube with an absolute NNN Lease in San Leandro, California. The NNN lease includes 2.5% annual rent increases throughout the primary term and one, five-year 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. Neighboring retailers include Target, Michael’s, Kohl’s, Lucky, Jack in the Box and many others. The property benefits from heavy traffic counts of over 25,000 VPD. Jiffy Lube has operated at this corner location for over thirty years.

San Leandro, a city in Alameda County, is located in the East Bay of the San Francisco Bay Area, located between Oakland to the northwest and Ashland to the southeast. It is twenty-one miles from downtown San Francisco.

San Leandro, once a 20th century manufacturing powerhouse, is undergoing a remarkable transformation to a 21st century center of innovation and technology. Well-located, transit-rich industrial and office workplace districts are now ripe for reinvestment. The high-speed fiber optic network has become the springboard for new and growing technology businesses and a thriving maker community. The city is home to GATE510, a 750,000-square-foot innovation hub in a former Plymouth auto factory. Other recent developments include the Zero Net Energy Center, an educational facility that works with electricians to reach zero-net-energy and 21st Amendment, a microbrewery that modernized and repurposed a 200,000 square foot former cereal plant. Ghirardelli Chocolate has been headquartered in San Leandro since the early 1960s.

The San Leandro Tech Campus, near the Jiffy Lube, is a million square foot mixed-use development. It is the Bay area’s newest tech hub with a vibrant startup culture, easy transit access and room to grow.

The Jiffy Lube is strategically located between Interstates 880, 580 and Freeway 238 connecting San Leandro to other parts of the Bay Area.

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