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Views: 87 DOM: 170 Updated: 08.30.24 Posted: 07.04.24 Status: Active

Summary

Price $3,130,434
Built/Renov 1989
Tenant Chevron
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,320
Lease Start 06-07-2024
#Units 17
Price/SF $2,371.54
Expiration 06-06-2044
Tenant Type Convenience/Gas
NOI $180,000
R. Term 19.5
Ownership Fee Simple
Rent/SF $136.36
Increases 10.0%/5/yrs
Pop 5Mi 131,258
Lot/AC 0.80
Options 2/5yrs/10%
AHHI 5Mi $107,243

Lease Highlights

  • Brand new 20-year lease with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Strong personal guaranty with guarantor net worth above $29.25M
  • Lease guaranteed by West Coast Petroleum (17 units backed)

Location Description

Chevron is strategically located at the signalized, hard corner intersection of Thornydale Rd and Magee Rd, two major arterials with access to a combined daily traffic count of 42,074 vehicles. The property is situated 1.5 miles from Omni Tucson National Resort, a 260-acre course that hosts PGA Tour events. Additionally, the immediate area is surrounded by well-known national tenants,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chevron
  • Guarantor:Franchisee
  • Company:West Coast Petroleum
  • # Units:17
  • Tenant S&P: AA-
  • Moody’s: Aa2
  • Stock: NYSE: CVX

About Tenant

Chevron Corporation (NYSE: CVX) is an American multinational energy corporation predominantly in oil and gas and is America's second-largest oil company. The company is engaged in every aspect...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 13,531 65,756 136,002
2024 Total Population : 13,392 63,512 132,647
2024 Employed Civilian Pop : 7,023 32,744 65,739
2024 Total Businesses : 262 1,791 4,346
2024 Average Household Income : $ 96,350 $ 104,327 $ 114,768
2024 Total Consumer Spending : $ 454 M $ 2398 M $ 5484 M
2024 Median Age : 40 41 43
2024 Total Households : 5,406 26,349 54,885
2024 Pop Age 25+: Bachelor's Degree : 2,476 10,975 25,727
2024 Average Home Value : $ 335,746 $ 370,670 $ 399,977
*ESRI data is presented for informational purposes only

Listing Broker

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