Cap Rate: 4.00%
Net Operating Income: $78,918
Square Footage: 4,218
Lot Size: 0.13 AC
Market: East Bay
The subject is a corporate Jiffy Lube with an absolute NNN Lease in Berkeley, 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, in the heart of Berkeley, one mile from the University of California campus.
Jiffy Lube has operated in this location since 1996.
Berkeley is a city on the eastern shore of San Francisco Bay in northern Alameda County, California. Berkeley is home to the oldest campus in the University of California system, the University of California, Berkeley, and the Lawrence Berkeley National Laboratory, which is managed and operated by the university. It also has the Graduate Theological Union, one of the largest religious studies institutions in the world. Berkeley is considered one of the most socially progressive cities in the United States.