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Views: 54 DOM: 48 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 7.9
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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Listing Broker

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