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Views: 113 DOM: 107 Updated: 10.11.24 Posted: 07.30.24 Status: Active

Summary

Price $2,751,000
Built/Renov 1996
Tenant GPM Investments (Phillips 66)
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 6,401
Lease Start 06-19-2017
#Units 1,543
Price/SF $429.78
Expiration 06-30-2032
Tenant Type Convenience/Gas
NOI $206,327
R. Term 7.7
Ownership Fee Simple
Rent/SF $32.23
Increases 1.5%/1/yrs
Pop 5Mi 77,206
Lot/AC 1.29
Options 4/5yrs/1.5%
AHHI 5Mi $75,261

Lease Highlights

  • 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.5% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The subject property is strategically located on Cassopolis Street, with access to 21,795 vehicles passing by daily. The property is surrounded by well-known national tenants, including Perkins, Sherwin-Williams, Walgreens, Planet Fitness, Cracker Barrel, and more. The 5-mile trade area supports a population of 77,206 residents with an average household income of $75,261. Elkhart is a city in...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

GPM Investments, LLC is the sixth largest convenience store operator in the United States, with brands including Scotchman, Shore Stop, Dixie Mart, Fas Mart, among several others. Their operations...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,411 24,618 76,507
2024 Total Population : 3,437 24,655 76,509
2024 Employed Civilian Pop : 1,651 12,437 35,933
2024 Total Businesses : 278 1,120 2,741
2024 Average Household Income : $ 82,738 $ 82,225 $ 82,186
2024 Total Consumer Spending : $ 109 M $ 735 M $ 2149 M
2024 Median Age : 40 39 38
2024 Total Households : 1,490 10,053 29,454
2024 Pop Age 25+: Bachelor's Degree : 329 2,468 7,478
2024 Average Home Value : $ 249,777 $ 248,365 $ 257,608
*ESRI data is presented for informational purposes only

Listing Broker

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