Property Details

1430 Cornwall Ave

Bellingham, WA 98225

$1,215,000

Available

CBA# 711872 courtesy of CBA Listing firm: Marcus & Millichap, Inc.

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Office / Retail

Property Type

3,840

Bldg Sq Ft

1965

Year Built

Property Overview

We have been selected to exclusively market for sale the #1 ranked Jiffy Lube in Bellingham, WA; ranked in the top 16% of all Jiffy Lube locations nationally (per Placer.ai). The property has been secured by an absolute net lease with zero landlord responsibilities since 2004 and has more than 6 years remaining on a 10-year lease extension signed in 2022, with rare 3% annual rent increases. With a current rent of just $16.88/SF NNN — well below the $30+/SF NNN market rate for quick lube properties — the investment offers low operating cost for the tenant significant future rental upside for the landlord. The property is operated by Team Car Care, the largest Jiffy Lube franchisee in the US with 500+ locations nationwide. Originally built as a quick lube facility in 1965, the site has opera