Jiffy Lube Investment
For Sale
Contact for pricing
2602 Ferrand St, Monroe, LA 71201
NNN Jiffy Lube in Monroe, LA with long-term tenant.
Property Size2,590 SF
Price / SF$386.10
Days on Market141
Property Features for 2602 Ferrand St
General Information
Standard status
Active
Size
2,590 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$70,052
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Jack Kulick · License #C02126798
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 10 at 7:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
The Jiffy Lube property located at 2602 Ferrand St in Monroe, LA 71201 is available for purchase. The property is listed at $1,000,000, offering a 7.00% cap rate. The tenant has recently exercised their option period. The guarantor, Team Car Care, is the largest Jiffy Lube franchise operator in the United States. The lease is absolute NNN with no landlord responsibilities. Rent increases of 12.5% are scheduled every 5 years. The property is located near the University of Louisiana Monroe, which has approximately 9,000 students. Approximately 21,500 vehicles per day pass the site, which has multiple access points from both Ferrand Street and Sterlington Road. Surrounding national co-tenants include McDonald's, Starbucks, Circle K, Chase Bank, Wendy's, Taco Bell, Domino's, and Zaxby's. The property size is 2,590 square feet. This property is also available as part of a two-site portfolio alongside a Jiffy Lube located at 1333 E Main St, Ville Platte, LA, 70586 offered together at $1,786,000 | $125,052 Rent | 7.00% Cap Rate.
Key Highlights
- Absolute NNN lease offers a truly passive investment with no landlord responsibilities.
- Guaranteed by Team Car Care (400+ locations), the largest Jiffy Lube franchise operator, ensuring exceptional stability.
- Rent increases of 12.5% every 5 years provide a rare and attractive hedge against inflation.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$71,072
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,421,440
$1.4M
Cap Rate 7%
$1,015,314
$1.0M
Cap Rate 9%
$789,689
$789.7K
Market Conditions
NOI Build-Up for 2,590 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$106.0K $40.92/SF
− Vacancy
−$4.5K −$1.72/SF
EGI
$101.5K $39.20/SF
− OpEx
−$30.5K −$11.76/SF
NOI
$71.1K $27.44/SF
Area
Ouachita County, LA
Vacancy
4.20%
Lease Rate
$40.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,421,440
Cap Rate 7%
$1,015,314
Cap Rate 9%
$789,689
Alternative Uses
Best Use
Retail
$1.02M
$888.4K – $1.18M
NOI $71,072 @ 7.0% cap · market cap 7.11%
Second Best
Industrial
$186.9K
$163.5K – $218.0K
NOI $13,081 @ 7.0% cap · market cap 1.31%
Theoretical Best
Multifamily LT 5
$27.90M
$24.41M – $32.55M
NOI $1,952,845 @ 7.0% cap · market cap 195.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
168k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 81%
Shops & Services 19%
McDonald's
Dining
21,675 visits/mo
0.3 miles
Taco Bell
Dining
20,854 visits/mo
0.2 miles
Starbucks
Dining
18,792 visits/mo
0.2 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
18,460 visits/mo
0.4 miles
Wendy's
Dining
17,386 visits/mo
0.2 miles
Demographics for 71201, LA
21,565
Population
10,352
Households
2.1
Avg Household Size
39
Median Age
43%
College-Educated
92%
High-School Grad
14.9 sq mi
ZIP Area
1,447
Density / Sq Mi
$53,538
Median Household Income
$44,262
Median Earnings
$882
Median Rent
$247,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - NNN Jiffy Lube in Monroe, LA with long-term tenant.
Where is this auto shop located?
The property is located at 2602 Ferrand St Monroe, LA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Absolute NNN lease offers a truly passive investment with no landlord responsibilities.; Guaranteed by Team Car Care (400+ locations), the largest Jiffy Lube franchise operator, ensuring exceptional stability.; Rent increases of 12.5% every 5 years provide a rare and attractive hedge against inflation.
