This page tracks Shell and Jiffy Lube net lease properties observed for sale in the United States, refreshed automatically from listing broker materials, checks the tenant against the investment grade threshold, and walks through how to evaluate one before you make an offer. If you want the corporate credit story, the Shell and Jiffy Lube credit rating and cap rate profile covers it. This page is about the inventory: what is on the market, what it is asking, how the pricing breaks down by term, state and lease type, and how a buyer, especially a 1031 exchange buyer, should work through it.
On a Shell or Jiffy Lube property, who signed the lease determines the credit. Shell plc carries issuer ratings of A+ from S&P Global Ratings, Aa2 from Moody’s and AA- from Fitch Ratings: all investment grade (BBB-/Baa3 or higher). Ratings checked October 8, 2026. Those ratings belong to Shell plc. Shell completed the sale of Jiffy Lube International to an affiliate of Monomoy Capital Partners on June 30, 2026 (Shell plc Form 6-K, July 30, 2026), so Shell plc’s ratings do not extend to a Jiffy Lube lease unless Shell plc guarantees it, and a Shell-branded station can be leased to an independent operator rather than to a Shell entity. Confirm the signature block. See the Shell and Jiffy Lube credit profile.
39 Shell and Jiffy Lube NNN properties observed for sale across 17 states as of October 2, 2026. Median asking cap rate 6.20% (range 5.00% to 8.50%). Median asking price $2.03M. Average remaining lease term 11.5 years (among 27 listings that state a term). Median building 2,622 SF. Figures update automatically from listing broker materials.
Shell and Jiffy Lube NNN Properties For Sale: Latest Listings
Up to twelve of the most recently listed single-tenant Shell and Jiffy Lube properties with published pricing. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Location | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|
| Austin, TX | $2,356,160 | 5.00% | $117,808 | n/a | 1986 | Not stated | Get full property data |
| Durango, CO | $2,784,000 | 6.25% | $174,000 | n/a | 1985 | Not stated | Get full property data |
| Cortez, CO | $1,160,000 | 6.00% | $69,600 | n/a | 1985 | Not stated | Get full property data |
| Phoenix, AZ | $1,899,000 | 6.36% | $120,750 | n/a | 1987 | Not stated | Get full property data |
| Topeka, KS | $1,190,000 | 5.98% | $71,107 | n/a | 1985 | Not stated | Get full property data |
| Indianapolis, IN | $2,000,000 | 7.26% | $145,200 | n/a | 1986 | Not stated | Get full property data |
| North Augusta, SC | $3,285,000 | 6.25% | $205,272 | n/a | 2021 | Absolute NNN | Get full property data |
| Tallahassee, FL | $3,051,365 | 5.50% | $167,825 | 11.8 yrs | 2023 | Absolute NNN | Get full property data |
| Zephyrhills, FL | $6,426,000 | 7.50% | $481,950 | 18.9 yrs | 1989 | NNN | Get full property data |
| Thornton, CO | $2,821,214 | 5.50% | $155,617 | n/a | 2018 | Not stated | Get full property data |
| Bedford, IN | $3,000,000 | 5.51% | $165,190 | 9.7 yrs | 2021 | Absolute NNN | Get full property data |
| Cypress, TX | $3,120,728 | 5.75% | $179,442 | 9.9 yrs | 2020 | Absolute NNN | Get full property data |
Showing the 12 most recently listed of 39 observed listings; listings without a published asking price and cap rate are not shown here.
Search all 39 Shell and Jiffy Lube properties on the market
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the listing party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Get new Shell or Jiffy Lube listings in your cap rate band
New Shell or Jiffy Lube net lease listings matched to your criteria, emailed as they are observed on the market. One email per match, nothing else.
Own a Shell or Jiffy Lube? Considering selling?
Investment Grade Income Property, LP advises owners nationally through Broker of Record co-listing partnerships in all 50 states. You choose the process: a quiet off-market placement with qualified 1031 buyers already searching this inventory, or a full on-market campaign. Either way it starts with a valuation benchmark against the live Shell or Jiffy Lube listings on this page.
Investment Grade Income Property, LP is a licensed commercial real estate brokerage. Your details are used to send the information you requested and are never shared with listing brokers without your permission.
What You Are Actually Buying
Shell’s U.S. lubricants subsidiary, Pennzoil Quaker State Company, completed the sale of Jiffy Lube International and its subsidiary Premium Velocity Auto, LLC to an affiliate of Monomoy Capital Partners for $1.3 billion on June 30, 2026 (Shell plc Form 6-K, July 30, 2026, and Shell news release, July 1, 2026). Shell described Jiffy Lube International as operating more than 2,000 franchised and company-owned and operated service centers across the U.S., with licensees in Canada, and Premium Velocity Auto as the second-largest Jiffy Lube franchisee, with over 360 locations across 20 states (Shell news release, July 1, 2026).
Shell-branded fuel sites are a different asset. Shell reported 42,724 Shell-branded mobility sites worldwide at the end of 2025 and says it operates different models across its markets, from full ownership of sites to brand licensing agreements (Shell plc Form 20-F for 2025). A Shell station listing can therefore be a lease to an independent operator that sells Shell fuel. The median building across the current Shell and Jiffy Lube inventory is 2,622 square feet.
Across the current inventory, 6% of listings with a reported build year were delivered in the last four years, and 0% are marketed as NN, NN+ or simply Net, which usually means the landlord retains roof and structure and sometimes parking and HVAC. Read the lease rather than the brochure headline. If the rating framework behind investment grade tenancy is unfamiliar, the investment grade guide explains it.
Shell and Jiffy Lube Cap Rate, Price and Term Distribution
These tables are generated from the live inventory and refresh every few hours. Use them to place any individual listing in context rather than judging an asking cap rate in isolation.
| Asking Cap Rate Band | Listings | Share | Avg Asking Price |
|---|---|---|---|
| 5.00% to 5.49% | 5 | 13% | $2.24M |
| 5.50% to 5.99% | 6 | 15% | $2.78M |
| 6.00% to 6.49% | 11 | 28% | $3.29M |
| 6.50% to 6.99% | 1 | 3% | $2.96M |
| 7.00% and above | 13 | 33% | $2.02M |
| Asking Price Band | Listings | Share | Avg Cap Rate |
|---|---|---|---|
| Under $1.5M | 14 | 36% | 6.64% |
| $1.5M to $2.5M | 10 | 26% | 6.58% |
| $2.5M to $3.5M | 10 | 26% | 5.91% |
| $3.5M to $5M | 2 | 5% | 6.33% |
| $5M and above | 3 | 8% | 6.60% |
| Remaining Lease Term | Listings | Avg Cap Rate |
|---|---|---|
| Under 5 years | 3 | 7.38% |
| 5 to 10 years | 7 | 6.47% |
| 10 to 15 years | 9 | 6.24% |
| 15 years and longer | 8 | 6.43% |
| Lease Type (as marketed) | Listings |
|---|---|
| Absolute NNN | 25 |
| Not stated | 9 |
| NNN | 5 |
How to read the pricing
The spread inside the Shell and Jiffy Lube inventory runs from 5.00% to 8.50%, against a median of 6.20%. Three variables help explain much of that spread, although these tables describe asking prices and do not isolate any single effect. First, remaining term, shown in the term table above. Second, geography, shown in the state table below. Third, lease structure and real estate quality: longer terms, stronger guarantors, absolute NNN structures and strong access generally ask lower cap rates, while leases with landlord responsibilities (NN) and secondary access generally ask higher ones; ground leases can price on either side, depending on rent and land value. When a listing sits far outside the band its term and state would predict, there is usually a reason in the lease, and it is worth finding before you write the offer rather than after.
Where Shell and Jiffy Lube NNN Properties Are For Sale
Current inventory spans 17 states. Differences between states in the table below can reflect local buyer demand, growth, taxes and the mix of lease terms in each state’s listings as much as anything about the tenant, and small state samples can shift quickly.
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| TX | 6 | 5.74% | $2.37M |
| FL | 6 | 6.43% | $5.13M |
| OK | 5 | 7.17% | $1.44M |
| IN | 3 | 6.59% | $2.24M |
| CO | 3 | 5.92% | $2.26M |
| VA | 2 | 6.86% | $2.50M |
| LA | 2 | 7.00% | $0.89M |
| OH | 2 | 7.50% | $0.99M |
| AZ | 2 | 6.25% | $2.13M |
| MT | 1 | 6.25% | $1.90M |
| NV | 1 | 5.35% | $2.61M |
| UT | 1 | 5.65% | $3.50M |
Shows the 12 states with the most listings, out of 17 states with Shell and Jiffy Lube listings. Search all listings for the rest.
Shell and Jiffy Lube as a 1031 Exchange Replacement Property
The median asking price in the current Shell and Jiffy Lube inventory is $2.03M, and about 51% of listings fall between 1.5 and 3.5 million dollars. Whether that fits an exchange depends on the equity coming out of the relinquished property and on the debt you need to replace. The points below are general information, not tax or legal advice; confirm your own situation with your qualified intermediary and tax advisor.
- Identify from the live list, not a stale one. Listings move. Replacement property must be identified within 45 days of the sale of the relinquished property (Internal Revenue Code section 1031(a)(3)), and the three-property rule in Treasury Regulation section 1.1031(k)-1(c)(4) lets you identify up to three properties regardless of value, so keep a backup that is realistically still available.
- Debt replacement matters. Liabilities on the relinquished property that the other party assumes, or that the property is transferred subject to, are treated as money received, and they can be offset by liabilities on the replacement property and by cash the taxpayer adds (Treasury Regulation section 1.1031(d)-2). Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage, so run your debt numbers before you identify.
- Term should match your hold. If you plan to hold through the next exchange or pass the asset to heirs, weigh remaining term and options alongside cap rate.
- Certainty of closing matters. The replacement property must be received within 180 days of the sale, or by the due date, including any extension, of the tax return for the year of the sale if that comes first (Internal Revenue Code section 1031(a)(3)). A clean estoppel, a current lease and no pending relocation reduce closing risk.
For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.
Shell and Jiffy Lube NNN Due Diligence Checklist
These are the items that change the value of a Shell or Jiffy Lube listing and are rarely resolved by the offering memorandum.
- Guaranty after the Jiffy Lube sale. If a Jiffy Lube listing describes a corporate guaranty, identify the guarantor and ask for a current estoppel. Jiffy Lube International and Premium Velocity Auto left Shell in the sale completed on June 30, 2026, so confirm which entity gives the guaranty today and whether any guaranty from a Shell entity remains in force.
- Franchisee identity and scale. For a franchisee lease, establish who the franchisee is, how many service centers it runs and whether a parent entity or owner guarantees the lease, and verify that the franchise agreement runs at least as long as the lease including options.
- Station operator and fuel supply. For a Shell station, identify the operator on the lease and any guaranty, and ask for the term of the branded fuel supply agreement, which can expire before the lease.
- Environmental status. Fuel sites can have underground storage tanks, and oil change sites can store new and used oil. Obtain a current Phase I and the tank and storage records, and confirm which party carries remediation, tank replacement and closure.
How Investment Grade Works With Shell and Jiffy Lube Buyers
Investment Grade Income Property, LP is a licensed commercial real estate brokerage providing national advisory on acquisitions and dispositions of net lease property, with Broker of Record co-listing partnerships in all 50 states. On a Shell or Jiffy Lube acquisition we screen the live inventory against your criteria, pull the lease abstract behind any listing you want to pursue, benchmark the asking cap rate against the distribution above, and negotiate on your side of the table through closing. On the majority of transactions, there is no separate fee to you as the buyer, because compensation is paid from the transaction by the listing side. Where that is not the case we disclose it in writing before you engage.
Owners of existing Shell and Jiffy Lube properties can use this page as a valuation benchmark. If you are weighing a sale, we can discuss an off-market sale to a qualified 1031 buyer as well as a broad marketing process.
Frequently Asked Questions
How many Shell and Jiffy Lube NNN properties are for sale right now?
As of October 2, 2026, 39 single-tenant Shell and Jiffy Lube net lease properties are observed for sale across 17 states. The count updates automatically as listings are added and removed.
Are Shell and Jiffy Lube investment grade?
Shell plc is, and Jiffy Lube is no longer part of Shell. Shell plc carries issuer ratings of A+ from S&P Global Ratings, Aa2 from Moody’s and AA- from Fitch Ratings: all investment grade (BBB-/Baa3 or higher). Ratings checked October 8, 2026. Jiffy Lube International has been owned by an affiliate of Monomoy Capital Partners since June 30, 2026, so those ratings do not apply to a Jiffy Lube lease, and a Shell station lease signed by an independent operator carries the operator’s credit.
What cap rate do Shell and Jiffy Lube NNN properties sell at?
The current median asking cap rate is 6.20%, with the inventory ranging from 5.00% to 8.50%. Longer term, stronger markets and absolute NNN structures generally ask cap rates at the lower end of the range.
How much does a Shell or Jiffy Lube NNN property cost?
The median asking price in the current inventory is $2.03M, with listings from $0.79M to $10.49M. About 51% fall between 1.5 and 3.5 million dollars.
Who signs the lease on a Shell or Jiffy Lube property?
It depends on the brand and the listing. A Jiffy Lube lease can be signed by a franchisee, by Premium Velocity Auto or by another Jiffy Lube entity. Independent franchisees were never Shell subsidiaries, and Jiffy Lube International and Premium Velocity Auto left Shell in the sale completed on June 30, 2026. A Shell station lease can be signed by an independent operator or by a Shell entity. Shell plc’s ratings apply only where Shell plc signs or guarantees the lease, so confirm the signatory and any guaranty.
Is a Shell or Jiffy Lube property a good 1031 exchange replacement?
It depends on your equity, your debt replacement requirement and your hold period. The median asking price is $2.03M and about 51% of inventory sits between 1.5 and 3.5 million dollars. Term, lease structure and certainty of closing matter as much as the headline cap rate within the 45-day identification period.
Working a Shell or Jiffy Lube acquisition or a 1031 identification deadline? Register on any listing above for full property data and a due diligence review, or email steve@investmentgrade.pro with your price range, target states and closing timeline and we will screen the live inventory for you.
