Murphy Express | Murphy USA (GL)

2350 Broad River Rd, Columbia, SC 29210

$2,300,000

Cap Rate 5.50%

$2,300,000

Cap Rate 5.50%

DOM: 197 Updated: 12.15.23 Posted: 05.04.23 Status: Sold 11.17.23

Summary

Price $2,300,000 $2,300,000	Built/Renov 2023	Tenant Murphy Express \| Murphy USA (GL)
Cap Rate 5.50% 5.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 47,045	Lease Start 01-04-2023	#Units 1,712
Price/SF $48.89 $48.89	Expiration 01-31-2043	Tenant Type Convenience/Gas
NOI $126,500	R. Term 17.9	Ownership Ground Lease
Rent/SF $2.69	Increases 8.0%/5/yrs	Pop 5Mi 34,232
Lot/AC 1.08	Options 4/5yrs/8%	AHHI 5Mi $57,140

Lease Highlights

Brand new 2023 construction | New Murphy USA prototype
Murphy USA recently signed a brand new 20-year ground lease with 4 (5-year) options to extend
Lease features 8% rental increases throughout the initial term and at each option period
Absolute NNN features zero landlord responsibilities
Corporate guarantee by Murphy Oil USA, Inc. (NYSE: MUSA)

Location Description

The subject property is positioned conveniently on a signalized, hard-corner off of Interstate 20 (50,924 VPD) with direct access from Broad River Road (34,232 VPD). The location benefits from the tenant draw of nearby major national tenants including Chick-fil-a, Wendy’s, Dollar General, McDonald’s, Taco Bell, Pep Boys, and more. There are over 130,000 people and over 139,000 daytime business...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Near major nationals
Freeway close
Dense 100M+ pop 5 mi
Brand new lease
Absolute NNN
Accelerated depreciation
Traded and rated company

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Links

Murphy USA Wikipedia Murphy USA Wikipedia Columbia, South Carolina Zip Code 29210 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Murphy Express | Murphy USA
Guarantor:Corp T and Rated
Company:Murphy Oil USA, Inc.
# Units:1,712
Tenant S&P: BB+
Moody’s: Ba1
Stock:NYSE: MUSA

About Tenant

Murphy Oil USA, Inc. (NYSE: MUSA), dba “Murphy USA,” is an American corporation operating a chain of retail gas stations that are primarily located in proximity to Walmart stores. We market...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,564	55,789	133,362
2023 Total Population :	10,380	55,094	131,287
2023 Employed Civilian Pop :	5,430	25,758	59,821
2023 Total Businesses :	482	2,111	7,804
2023 Average Household Income :	$ 50,946	$ 64,053	$ 64,849
2023 Total Consumer Spending :	$ 229 M	$ 1349 M	$ 3254 M
2023 Median Age :	32	36	35
2023 Total Households :	5,099	23,998	57,163
2023 Pop Age 25+: Bachelor's Degree :	1,277	8,238	19,078
2023 Average Home Value :	$ 163,792	$ 223,413	$ 221,141

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Broad River Rd	Briargate Cir	2018	38,200	0.11 mi
Broad River Road	I- 20	2021	38,000	0.16 mi
Bakersfield Road	Statler Rd	2021	800	0.49 mi
I 20	Gale Dr	2021	101,900	0.54 mi
I- 20	Browning Rd	2018	100,800	0.55 mi
Dutch Square Boulevard	Bakersfield Rd	2021	5,100	0.62 mi
I- 26 (INTERSTATE 26) TO US 176 (BROAD RIVER RD)	Lawand Dr	2021	21,300	0.80 mi
Bush River Road	Lawand Dr	2019	28,600	0.80 mi
Bush River Rd	Lawand Dr	2018	28,700	0.82 mi
I- 26	I- 126	2018	134,700	0.85 mi

Listing Broker

Scott DeYoung

Faris Lee Investments

Contact

34 Listings
5677 Views
20 Sold

Jeff Conover

Faris Lee Investments

Contact

33 Listings
5647 Views
19 Sold

Scott DeYoung

As a Senior Managing Director at Faris Lee Investments, Mr. DeYoung was the co-top producer at the Company in 2021. Mr. DeYoung has more than a decade of brokerage experience and currently holds real estate broker licenses in California, Florida, Montana, and Hawaii. Mr. DeYoung is a fifth-generation broker and developer in Southern California, as well as an active real estate investor. In 2021, Mr. DeYoung acquired and disposed of over $26M in commercial real estate as a General Partner. His e

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Jeff Conover

Jeff Conover was appointed Managing Principal at Faris Lee Investments in 2021 and has 34 years of transactional brokerage experience within the commercial real estate industry across the U.S. As Managing Principal of Faris Lee Investments, a national leading retail advisory and investment sales firm, Mr. Conover is a top producer year-over-year with proven performance specializing in the disposition of single tenant NNN leased investments, multi-tenant shopping centers, national portfolios &am

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