Auto Service Center NNN
For Sale
Contact for pricing
5215 University Ave, Cedar Falls, IA 50613
Jiffy Lube auto care center on an absolute NNN lease with corporate guarantee and remaining primary term.
Property Size1,920 SF
Days on Market120
Property Features for 5215 University Ave
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Cap Rate
6.5%
Traffic Count
15,809 vehicles/day
Building Details
Tenancy
Single
Listing Agency:
Fortis Net Lease
(248) 419-3810
Listed By:
Bryan Bender · License #MI 6501319610
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 20 at 7:49PM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
Fortis Net Lease presents a 1,920 SF Jiffy Lube auto service center in Cedar Falls, Iowa. The property is offered with a forty (40) year absolute NNN lease structure that provides for zero landlord responsibilities. Five years remain on the primary term, with four (4) additional five-year options, each with a 5% rental rate increase. The lease has been extended twice for additional 10-year periods, and rent commenced on 4/1/1987. The lease is corporately guaranteed by Shell.
The site is described as highly visible along University Avenue, which is reported to carry 15,809 cars per day. The University of Northern Iowa is listed as 2.7 miles away, and College Square Mall is noted as down the street from the property.
The offering is presented for purchase of the fee simple interest with the tenant continuing operations under the current lease terms and guarantees.
The site is described as highly visible along University Avenue, which is reported to carry 15,809 cars per day. The University of Northern Iowa is listed as 2.7 miles away, and College Square Mall is noted as down the street from the property.
The offering is presented for purchase of the fee simple interest with the tenant continuing operations under the current lease terms and guarantees.
Key Highlights
- 1,920 SF Jiffy Lube in Cedar Falls, Iowa on a 40‑year absolute NNN lease
- 5 years remaining on the primary lease term with four (4) 5‑year options; 5% rental increases on each option
- Rent commenced 4/1/1987; lease extended twice for an additional 10 years each
Property Analytics
Current Use
Lease Details
15,809 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
402k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Groceries 18%
Apparel 14%
Shops & Services 10%
Hy-Vee
Groceries
64,318 visits/mo
0.5 miles
Kohl's
Apparel
55,060 visits/mo
0.2 miles
Texas Roadhouse
Dining
34,881 visits/mo
0.0 miles
Starbucks
Dining
20,749 visits/mo
0.5 miles
Buffalo Wild Wings
Dining
17,462 visits/mo
0.4 miles
Demographics for 50613, IA
43,667
Population
17,808
Households
2.5
Avg Household Size
32
Median Age
48%
College-Educated
97%
High-School Grad
127.6 sq mi
ZIP Area
342
Density / Sq Mi
$75,642
Median Household Income
$33,099
Median Earnings
$1,176
Median Rent
$258,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Auto shop - Jiffy Lube auto care center on an absolute NNN lease with corporate guarantee and remaining primary term.
Where is this auto shop located?
The property is located at 5215 University Ave Cedar Falls, IA.
What are key features of this property?
This property features: 1,920 SF Jiffy Lube in Cedar Falls, Iowa on a 40‑year absolute NNN lease; 5 years remaining on the primary lease term with four (4) 5‑year options; 5% rental increases on each option; Rent commenced 4/1/1987; lease extended twice for an additional 10 years each
