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Views: 184 DOM: 241 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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Maps

  • 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

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