May 10, 2022—A Jiffy Lube property in Kendallville, Indiana has been purchased for $1,425,000.
According to Digital Journal, the sale of the 2,302 square foot property was completed by The Boulder Group, a boutique investment real estate service firm that specializes in single tenant net lease properties.
The seller was a Texas real estate fund and the buyer was a real estate investor based in the Midwest.
“Single tenant assets leased to e-commerce resistant tenants like Jiffy Lube continue to garner significant investor interest,” says Randy Blankstein, President of The Boulder Group according to Digital Journal.
There are 15,791 people who live within five miles of the property. Other nearby businesses include a grocery store, a dollar store, a bank, several restaurants and pharmacies.“The franchisee added a third service bay in 2016 which increased sales substantially and the site’s long-term viability,” says John Feeney, Senior Vice President of The Boulder Group.
Randy Blankstein and John Feeney represented both sides of the sale.