Quik Mart

3250 West Cortaro Farms Road, Tucson, AZ 85742

$2,867,000

Cap Rate 6.00%

Views: 181 DOM: 234 Updated: 11.08.24 Posted: 03.25.24 Status: Active

Summary

Price $2,867,000	Built/Renov 1982	Tenant Quik Mart
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,500	Lease Start 04-05-2023	#Units 17
Price/SF $1,146.80	Expiration 04-30-2043	Tenant Type Convenience/Gas
NOI $172,000	R. Term 18.5	Ownership Fee Simple
Rent/SF $68.80	Increases 10.0%/4/yrs	Pop 5Mi 130,708
Lot/AC 0.42	Options 4/5yrs/10%	AHHI 5Mi $94,548

Lease Highlights

Quik Mart has 18+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years
Tenant in process of making additional capital improvements to site (New parking lot)
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Quik Mart is strategically located on W Cortaro Farms Road, with access to 18,000 vehicles passing by daily. The property offers immediate connection to N Casa Grande Hwy 10 (104,500 VPD) and is close to the Casa Adobes Country Club Estates Community. Additionally, it enjoys convenient access to the Legacy Traditional School. The immediate area is surrounded by well-known national retailers,...

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Key Features

Hard corner intersection
Strategically located
Highway close
Top 100 MSA
Affluent suburb location
Brand new lease
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Quik Mart Wikipedia Tucson, Arizona Zip Code 85742 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Quik Mart
Guarantor:Corporate
Company:LPT Retail Mangement Services
# Units:17
Stock:Private

About Tenant

Quik Mart Stores, Inc. is a chain of convenience stores which have become known as the local choice in the Tucson convenience store marketplace. The company is the largest independent convenience...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,627	65,080	136,471
2023 Total Population :	10,795	63,961	134,340
2023 Employed Civilian Pop :	5,102	31,571	63,835
2023 Total Businesses :	165	1,673	4,162
2023 Average Household Income :	$ 97,358	$ 98,591	$ 108,557
2023 Total Consumer Spending :	$ 373 M	$ 2231 M	$ 5210 M
2023 Median Age :	41	41	43
2023 Total Households :	4,484	26,291	55,825
2023 Pop Age 25+: Bachelor's Degree :	1,978	10,363	24,258
2023 Average Home Value :	$ 291,205	$ 305,242	$ 343,803

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Cortaro Farms Rd	W Club Dr	2019	14,567	0.02 mi
W Club Dr	W Cortaro Farms Rd	2014	2,449	0.03 mi
W Club Dr	W Cortaro Farms Rd	2014	1,595	0.05 mi
W Cortaro Farms Rd	W Club Dr	2014	13,243	0.06 mi
W Moondance Way	N Midnight Way	2007	428	0.06 mi
N Hopdown Ave	Club Dr	2011	1,929	0.17 mi
N Shannon Rd	Club Dr	2011	13,000	0.33 mi
W Cortaro Farms Rd	W Magee Rd	2015	15,579	0.33 mi
W Cortaro Farms Rd	Albany Ave	2016	18,098	0.35 mi
N Shannon Rd	Club Dr	2015	10,220	0.35 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

190 Listings
22331 Views
112 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

191 Listings
22432 Views
113 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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