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ASKING PRICE $1,077,000424 N DELSEA DRIVE -VINELAND NJ

*Photos are representative only

OFFERING MEMORANDUM

ASKING PRICE $563,000429 QUIGLEY AVE -VINELAND NJ

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EXCLUSIVELY MARKETED BY

EHREN JACOBSREALTOR®

CELL: (310) 920-8996EMAIL: jacobs.ehren@gmail.com

LIC# 01219939

ERICA ORTEGATRANSACTION COORDINATOR

ALBERT MEDINAMARKETING ASSOCIATE

DISCLAIMER STATEMENT:

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from RE/MAX Execs/RE/MAX Elite and should not be made available to any other person or entity without the written consent of RE/MAX Execs/RE/MAX Elite.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. RE/MAX Execs/RE/MAX Elite has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, RE/MAX Execs/ RE/MAX Elite has not verified, and will not verify, any of the information contained herein, nor has RE/MAX Execs/RE/MAX Elite conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

RALPH NETTANEW JERSEY BROKER

LIC# 098022

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CONTENTS

4-5 INVESTING OFFERING Investment Highlights Property Summary

6 FINANCIAL ANALYSIS Financial Summary Rent Schedule

7-9 COMPANY PROFILE Company Profile History Services Community

10 PROPERTY PHOTOS

11 DEMOGRAPHICS

12 TRAFFIC COUNT

13-14 LOCATION MAP Aerial View

15 AREA OVERVIEW

16 PARCEL MAP

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INVESTMENT OFFERING

INVESTMENT HIGHLIGHTSAs exclusive sales agents RE/MAX proud to represent this single tenant, NET lease investment opportunity. The tenant is in a high visibility location in Vineland, New Jersey.

• Lease Guarantor - Jiffy Lube International, Inc

• Tenant - Team Car Care

• Initial lease term (20) years

• 10+ years remaining on the initial lease

• 7.5% increase in base rent every (5) years

• Available @ 6.5% CAP rate

• 2 options to renew the lease

• Website: www.jiffylube.com

• Number of locations nationwide: 2000±

• Current NOI $70,000 per year

• Nearby retailers include Dunkin Donuts, McDonalds,

Burger King, Popeys, Goodyear, Bank of America, Kia, RK

Chevrolet, Subaru and Toyota

PROPERTY SUMMARY

Address: 424 N Delsea Drive Vineland, NJ

Assessor Parcel #: BLOCK 2706-LOT 5

Bays: 2

Lot Size: 460.31 x 183.60 = 84,512.9 Sq. Ft.

Building Size: 1965± Sq. Ft.

Landscaping: Professional

Property Type: Commercial

Number of Stores: One

Parking Spaces: 2± Estimated

Year Built: 1984

Construction: Masonary

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INVESTMENT OFFERING

PROPERTY SUMMARY

Address: 429 Quigley Ave Vineland, NJ

Assessor Parcel #: BLOCK 2706-LOT 7

Legal Description: LOT: 7 BLK: 2706 DIST: 14 CITY: VINELAND CITY MAP REF: TAX MAP 27

Lot Size: 27,600 Sq. Ft. / .63

Building Size: N/A

Landscaping: None

Property Type: Commercial/Residential

Property Use : Vacant Land (General)

Parking Spaces: 0

Year Built: 1984

Construction: Masonary

Buildable Land: 84,000 Sq. Ft. (tobeverifiedwiththecityofVineland,NJ)

Value per Sq. Ft. $6.70 ($563,000 ÷ 84,000)

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FINANCIAL ANALYSIS

TERM PERIOD MONTHLY RENT ANNUAL RENT

Lease Addendum 1 10/01/10 - 09/30/20 $6500.61 $78,007.00

Extended Term 1 10/01/20 - 09/30/25 $5833.33 $70,000.00

Extended Term 2 10/01/25 - 09/30/30 $6270.83 $75,250.00

Asking Price $1,077,000

Cap Rate 6.5%

Lease Type NNN

Ownership Fee Simple

Base Rent $70,000

Guarantor Jiffy Lube International, Inc.

Tenant Team Car Care

Term Remaining 10 + Years

Options to Renew Two options

Rent Increases Throughout Terms

Option Increases 7.5% @ every five (5) years

Property Taxes Tenant

Property Maintenance Tenant

Property Insurance Tenant

Commencement Date 02/04/83

Lease Expiration 09/30/30

RENT SCHEDULE

PERIOD

OPTIONS PERIOD MONTHLY RENT ANNUAL RENT

FIRST 10/01/30 - 06/30/33 $6741.14 $80,893.00

SECOND07/01/33 - 06/30/35 $6714.14 $80,893.00

07/01/35 - 06/30/38 $7246.73 $86,960.00

424 N Delsea DriveVineland, NJ

FINANCIAL SUMMARY

CURRENT TERM

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COMPANY PROFILE Company ProfileJiffy Lube is an American brand of automotive oil change specialty shops founded in Utah, United States, in 1971. It has been a subsidiary of Royal Dutch Shell since 2002, and is headquartered in Houston, Texas.

Company History The first Jiffy Lube store was established on 36th Street in Ogden, Utah by Edwin H. Washburn as early as 1971. Over the following years, Washburn franchised a number of Jiffy Lube centers within Utah. In 1979, then-football coach at Western Maryland College W. James Hindman bought out Washburn’s seven franchises and established Jiffy Lube International, relocating to Baltimore, Maryland. It is this year which Jiffy Lube generally states as its founding date with Hindman as its founder.

Jiffy Lube went public in 1987, and had opened 1,020 franchises and company stores by 1989. In 1991, Jiffy Lube became a subsidiary of Pennzoil.

Following the merger of Pennzoil and Quaker State in 1998, the 581 Q Lube stores were merged into the Jiffy Lube brand, then possessing 1,541 stores, with overlapping operations being closed down. Pennzoil-Quaker State was ultimately purchased by Shell Oil in 2002.

There are about 2,000 Jiffy Lube franchises in North America, all of them independently owned by 252 operators, with about 24 million customers each year as of 2002. The company was ranked first on National Oil and Lube News 2011 Tops in the Fast Lubes Industry Rankings. Also, Jiffy Lube was ranked number 15 in Entrepreneur Magazine’s 2012 Franchise 500 and number 73 on Franchise Times 2011 Top 200 Franchise Chains by Worldwide Sales.

Company ServicesJiffy Lube® is a leading provider of automotive preventive maintenance. With a national footprint of more than 2,000 franchisee owned service centers across the country, Jiffy Lube offers a range of services from oil changes and tire rotations, to everything in between.

In June 2011, Jiffy Lube introduced a new program called Oil Change Schedule (OCS). The new program allows Jiffy Lube customers to choose how often they have their oil changed based on a number of variables including vehicle manufacturer recommendations, driving habits, and road conditions. The OCS program moves away from the old model of changing oil every 3,000 miles and provides a schedule that is unique for each driver.

Jiffy Lube technicians are not just highly trained in preventive maintenance, they are also highly trained in customer service. So if you have any questions about vehicle maintenance or the services performed at any Jiffy Lube service center, your technician will help you find the resources and information you need, whether it’s in-store, online or by accessing your vehicle manufacturer’s recommendations. It’s just another way Jiffy Lube strives each and every day to help you Leave Worry Behind® .

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Community - GIVING BACKWe Care for Cars and a Whole Lot More

Jiffy Lube supports our local communities.

Through sponsorships and programs, we have donated to local schools, charities and other organizations.

Jiffy Lube is proud to have supported the Muscular Dystrophy Association (MDA) since 2012. Through the generosity of our customers and franchisees, Jiffy Lube has donated more than $6 million, sending more than 3,000 kids to MDA Summer Camp. The camp gives kids with limited muscle strength and mobility a fun, life-changing experience in an environment without barriers.

Although Jiffy Lube has grown to become the largest automotive maintenance provider in the United States, one thing has remained constant: our commitment to give back to the communities in which we live and work. Jiffy Lube supports a variety of philanthropic initiatives that help change our world for the better. In addition to our national initiative, at a local level, our franchisees across the country support organizations in their own backyards.

COMMUNITY

Jiffy Lube International, Inc. president Patrick Southwick, third from left, poses with winners and their handmade cars they used in a derby race he helped judge during the Muscular Dystrophy Association’s annual MDA Summer Camp.

Jiffy Lube supports the Muscular Dystrophy Association.They make donations and help those affected by muscular dystrophy.

August 6, 2015 November 7, 2018

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COMPANY SERVICES

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PROPERTY PHOTOS

424 N DELSEA DRIVE429 QUIGLEY AVE

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DEMOGRAPHICS

Demographics Summary

Description424 N Delsea Drive

1 mi Radius424 N Delsea Drive

3 mi Radius424 N Delsea Drive

5 mi Radius

Total % Total % Total %

Populatons2025 Projection 6,801 100.00% 38,194 100.00% 62,998 100.00%2020 Estimate 6,884 100.00% 38,647 100.00% 63,639 100.00%2010 Census 7,074 100.00% 39,665 100.00% 64,924 100.00%

Growth 2020 - 2025 -1.21% -1.17% -1.01%Growth 2010 - 2020 -2.69% -2.57% -1.98%

Households2010 Census 3,432 100.00% 26,870 100.00 74,903 100.002020 Estimate 3,899 100.00% 28,605 100.00 78,985 100.00

Est.PopulationbySingle-ClassificationRace

Description424 N Delsea Drive

1 mi Radius424 N Delsea Drive

3 mi Radius424 N Delsea Drive

5 mi Radius

Total % Total % Total %White Alone 5,175 74.87% 29,299 75.81% 50,090 79.71%

Black or African American 1,334 19.38% 7,228 18.70% 9,938 15.62%American Indian & Alaska Native 99 1.44% 495 1.28% 659 1.04%

0.14%Asian 70 1.02% 493 1.28% 1,156 1.82%Native Hawaiian & Pacific Islander 17 0.25% 74 0.19% 87 0.14%

Other 211 3.07% 1,058 2.74% 1,709 2.69%U.S. Armed Forces 3 .0004% 11 .0002% 16 .0002%

Data supplied from Environics Analytics

424 N Delsea DriveVinland, NJ 08360

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Jiffy Lube - traffic counts

Copyrighted report licensed to RE/Max Estate Properties - 246516 09/14/20

TRAFFIC COUNT

5 MI Radius

Jiffy Lube - traffic counts

Copyrighted report licensed to RE/Max Estate Properties - 246516 09/14/20

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424 N Delsea DriveVinland, NJ 08360

AERIAL VIEW

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JIFFY LUBE LOCATIONS

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AREA OVERVIEWVineland, New JerseyThe city of Vineland New Jersey was founded in 1874 by Charles K. Landis near Millville, New Jersey, and along the West Jersey railroad line. Established as a temperance town, where the sale of alcohol was prohibited, Landis required that purchasers of land in Vineland build a house on the purchased property within a year of purchase.

After determining that the Vineland soil was well-suited for growing grapes (hence the name), Landis started advertising to attract Italian grape growers to Vineland, offering 20 acres of land that had to be cleared and used to grow grapes. Thomas Bramwell Welch founded Welch’s Grape Juice, and purchased the locally grown grapes. Throughout the first half of the 20th century, most of the city was involved in the poultry industry, which led to the city being dubbed “The Egg Basket of America”.

Points of interest• The Delsea Drive-In, located on Route 47 (Delsea Drive) north of County Route 552, is the only remaining drive-in theater in

the state of New Jersey, the state in which they were first created in 1932.• The Palace of Depression was built by the mustachioed eccentric George Daynor, a former Alaska gold miner who lost his

fortune in the Wall Street Crash of 1929; the house was known as “The Strangest House in the World”.• The Landis MarketPlace opened as a two-level indoor public market and would go on to include several vendors. In July

2015, the Amish vendors on the lower level departed and the market was purchased by the city the following month.• The Vineland Historical and Antiquarian Society, a museum and research library that has been in operation since 1910 and

holds a large collection exhibiting the city’s history.

Source: https://en.wikipedia.org/wiki/Vineland,_New_Jersey

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PARCEL MAP

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