Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Property Description

JLL is pleased to offer for sale the fee-simple interest in a brand new 2021 constructed, single-tenant Jiffy Lube (the “Property” or “Asset”) located fifteen minutes north of downtown Des Moines in Ankeny, IA. The lease is expected to commence in October of 2021 and provides a full 15-years of primary lease term remaining with rare 10% rental escalations throughout the primary and renewal option terms with zero landlord responsibility. The Asset is located in one of the fastest-growing cities in the Midwest with AHHI of more than $101,000 within a five-mile radius of the Property. This Property presents the opportunity to acquire brand new 2021 construction, leased to an e-commerce resistant tenant in one of the fastest growing markets in the nation.

Investment Highlights

  • New 2021 construction
  • Fastest growing major metro market in the Midwest
  • Population of 94,800 + $101,100 AHHI within five-mile radius
  • Bonus depreciation enhancement
  • Full 15 years of primary lease term remaining
  • Rare 10% rental escalations every five years
  • Absolute NNN lease structure
Last Updated Date: 16 Jul 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 16 Jul 2021

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