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Views: 1314 DOM: 145 Updated: 08.23.24 Posted: 07.30.24 Status: Active

Summary

Price $1,602,000
Built/Renov 1981
Tenant GPM Investments (Shell)
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 1,929
Lease Start 06-19-2017
#Units 1,543
Price/SF $830.48
Expiration 06-30-2032
Tenant Type Convenience/Gas
NOI $112,114
R. Term 7.6
Ownership Fee Simple
Rent/SF $58.12
Increases 1.5%/1/yrs
Pop 5Mi 254,740
Lot/AC 1.14
Options 4/5yrs/1.5%
AHHI 5Mi $84,975

Lease Highlights

  • 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The subject property is strategically located on Airport Freeway/State Highway 121, with access to 97,530 vehicles passing by daily. The property is surrounded by well-known national tenants, including Sonic, Dollar General, McDonald's, 7-Eleven, QuikTrip, and more. The 5-mile trade area supports a population of 254,740 residents with an average household income of $84,975. Richland Hills is a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

GPM Investments, LLC is the sixth largest convenience store operator in the United States, with brands including Scotchman, Shore Stop, Dixie Mart, Fas Mart, among several others. Their operations...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,932 81,184 254,024
2024 Total Population : 5,071 80,515 253,980
2024 Employed Civilian Pop : 2,666 42,409 135,313
2024 Total Businesses : 661 3,962 9,901
2024 Average Household Income : $ 100,518 $ 90,900 $ 91,479
2024 Total Consumer Spending : $ 165 M $ 2522 M $ 7853 M
2024 Median Age : 39 37 36
2024 Total Households : 1,857 31,321 96,868
2024 Pop Age 25+: Bachelor's Degree : 598 11,151 33,335
2024 Average Home Value : $ 317,011 $ 363,990 $ 342,780
*ESRI data is presented for informational purposes only

Listing Broker

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