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Views: 138 DOM: 256 Updated: 10.25.24 Posted: 04.09.24 Status: Active

Summary

Price $3,285,000
Built/Renov 2023
Tenant Murphy Express (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,824
Lease Start 11-12-2023
#Units 1,733
Price/SF $1,163.24
Expiration 11-12-2043
Tenant Type Convenience/Gas
NOI $164,250
R. Term 18.11
Ownership Ground Lease
Rent/SF $58.16
Increases 8.0%/5/yrs
Pop 5Mi 75,656
Lot/AC 0.99
Options 4/5yrs/8%
AHHI 5Mi $96,073

Lease Highlights

  • Brand-new 2023 construction
  • 19 years remaining on the current ground lease term with 4 (5-year) options to extend
  • 8% rental increases every 5 years throughout the primary term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Murphy Express is strategically located at the signalized, hard-corner intersection of Beal Parkway and Mary Esther Cut Off NW, with access to a substantial combined daily traffic count of 70,500 vehicles. The property holds a prime position on the same side of the street as the Santa Rosa Mall, alongside well-known national tenants such as Walmart, Sam’s Club, Lowe’s, and Publix. The 5-mile...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Murphy USA Inc. (NYSE: MUSA) is an American corporation operating a chain of retail gas stations across the Southwest, Southeast, Midwest, and Northeast United States. Murphy USA, Inc. locations...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,706 62,616 77,540
2023 Total Population : 12,514 61,628 76,151
2023 Employed Civilian Pop : 6,670 30,819 37,366
2023 Total Businesses : 404 3,264 3,784
2023 Average Household Income : $ 85,943 $ 83,061 $ 88,638
2023 Total Consumer Spending : $ 387 M $ 1928 M $ 2513 M
2023 Median Age : 41 40 40
2023 Total Households : 5,191 26,705 32,706
2023 Pop Age 25+: Bachelor's Degree : 1,593 9,042 12,057
2023 Average Home Value : $ 401,750 $ 372,272 $ 401,916
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Mary Esther Cut Off Gap Creek Dr 2022 36,500 0.05 mi
Beal Pky NW Mary Esther Cut Off 2005 55,500 0.07 mi
Beal Pky NW Mary Esther Cut Off 2005 33,000 0.08 mi
Beal Parkway Northwest Ewing Ct NW 2022 31,000 0.27 mi
Beal Parkway Northwest Manring Dr 2022 52,000 0.38 mi
Mary Esther Cut Off Jonquil Ave NW 2022 26,000 0.52 mi
Lang Rd Center St 2005 1,850 0.54 mi
Lang Road Hastings Ct 2022 1,500 0.67 mi
Mary Esther Cut Off Lovejoy Rd NW 2005 32,500 0.69 mi
Lovejoy Rd NW Tilden St NW 2005 9,500 0.70 mi

Listing Broker

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