1619 Gessner Rd. Houston, TX 77080


This Jiffy Lube is located next to Popeyes Chicken on N. Gessner Drive, one mile north of a ramp for Interstate-10 (U.S. 90). Traffic counts along Gessner Drive average 30,000 vehicles per day, while I-10 sees about 293,000 Memorial City Mall, anchored by vehicles per day. Dillard’s, JC Penney, Macy’s, Sears and Target is just one mile from the subject property along with Memorial Hermann Medical Center with 426 beds. Houston, a no-income tax state, is a major corporate center and is home to 18 Fortune 500 companies. The lease is guaranteed by Allied Lube Texas LP, one of the top Jiffy Lube franchisees with 74 locations throughout Texas.

Agent(s) Involved: Shawn Jass
Agency/Representation: Buyer

Transaction Details

Status: Closed
COE Date: 1/31/2006
Price: $500,000
Cap Rate: 6.7%
Tenant(s): Jiffy Lube
Year Built: 1986
Bldg. Size: 2,025 SF
Lot Size: 16,400 SF
NOI $33,500
Lease Term 15 years NNN
Renewal Options: Three (3) Five (5) Year Terms