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Views: 24 DOM: 53 Updated: 04.22.24 Posted: 03.25.24 Status: Active

Summary

Price $2,768,000
Built/Renov 2022
Tenant Sunoco
Cap Rate 5.60%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,950
Lease Start 08-25-2021
#Units 5,534
Price/SF $559.19
Expiration 11-30-2032
Tenant Type Convenience/Gas
NOI $155,000
R. Term 8.6
Ownership Fee Simple
Rent/SF $31.31
Increases 12.0%/2/yrs
Pop 5Mi 46,120
Lot/AC 1.47
Options 1/10yrs/12%
AHHI 5Mi $87,505

Lease Highlights

  • Sunoco (Operating as Checkout Food Stores, and The Taco Company) has 8 years remaining on its current lease term with 1 (10-year) & 2 (5-year) options to extend
  • The lease features 12% rental increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: SUN)

Location Description

Sunoco is strategically located on South Cities Service Highway, with access to 18,700 vehicles passing by daily. The property is located immediately off Interstate 10, a significant connector providing direct access to Houston and Baton Rouge. Moreover, it is situated within a dense retail corridor, surrounded by well-known national tenants such as Lowe's, McDonald's, and Waffle House....

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Maps

  • 1 Mile
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  • 5 Miles

Tenant

  • Tenant: Sunoco
  • Guarantor:Corp T and Rated
  • Company:Sunoco LP
  • # Units:5,534
  • Tenant S&P: BB
  • Moody’s: Ba2
  • Stock: NYSE: SUN

About Tenant

Sunoco, LP is a key player in the U.S. wholesale motor fuels distribution, refined products transportation, and storage. It distributes fuel to more than 5,500 Sunoco-branded gas stations, almost...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,043 17,348 44,253
2023 Total Population : 1,035 17,272 44,035
2023 Employed Civilian Pop : 324 7,118 19,895
2023 Total Businesses : 153 1,033 2,078
2023 Average Household Income : $ 79,403 $ 79,579 $ 96,315
2023 Total Consumer Spending : $ 27 M $ 466 M $ 1442 M
2023 Median Age : 41 38 39
2023 Total Households : 402 6,798 17,316
2023 Pop Age 25+: Bachelor's Degree : 26 1,786 4,941
2023 Average Home Value : $ 192,188 $ 223,338 $ 278,654
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cities Service Hwy Swisco Rd 2010 12,552 0.15 mi
Cities Service Highway Industrial Dr 2022 13,342 0.28 mi
Madison St 2022 6,223 0.49 mi
South Cities Service Highway Attakapas St 2022 18,772 0.69 mi
Cities Service Hwy 2022 6,291 0.78 mi
S Cities Service Hwy Fairview Ave 2010 18,777 0.92 mi
Haffer Bayou D'Inde Pass 2022 76 0.93 mi
S Cities Service Hwy 2022 109,944 1.02 mi
Maplewood Drive N Cities Service Hwy 2022 15,819 1.26 mi
Maplewood Drive N Cities Service Hwy 2022 8,238 1.28 mi

Listing Broker

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