Shell (GL)

1780 Clinton Road, Jackson, MI 49202

$2,333,333

Cap Rate 6.00%

Views: 138 DOM: 398 Updated: 10.31.24 Posted: 10.20.23 Status: Active

Summary

Price $2,333,333	Built/Renov 1991	Tenant Shell (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,559	Lease Start 11-01-1991	#Units 64
Price/SF $911.81	Expiration 10-31-2036	Tenant Type Convenience/Gas
NOI $140,000	R. Term 11.11	Ownership Ground Lease
Rent/SF $54.71	Increases 3.5%/3/yrs	Pop 5Mi 75,905
Lot/AC 0.51	Options 3/5yrs/3%	AHHI 5Mi $74,985

Lease Highlights

Shell has been operating in this location since 1991
Tenant has 12 years remaining on the current lease term with 2 (5-year) options to extend
Lease features 3.5% rental increase every 5 years throughout the initial term and 3% at the start of each option
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Walters Dimmick Petroleum, Inc.

Location Description

Shell station is conveniently located on Clinton Rd., with high visibility from I-94, which sees roughly 62,747 vehicles passing by daily. The subject property enjoys numerous entry points to Jackson Crossing, a regional center spanning 620,000 square feet, as well as the nearby Jackson West, a power center encompassing 209,800 square feet. Kohl's, Target, Best Buy, T.J. Maxx, Five Below,...

...

Key Features

In location for years
Shopping Ctr out-parcel
Highway location
Strong tenant synergy
Top 100 MSA
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Traded and rated company
50+ unit franchisee backed

...

Links

Shell Wikipedia Shell Wikipedia Jackson, Michigan Zip Code 49202 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Shell (GL)
Guarantor:Franchisee
Company:Walters Dimmick Petroleum, Inc.
# Units:64
Tenant S&P: A
Moody’s: Aa2
Stock: NYSE: SHEL

About Tenant

Shell plc is a British multinational oil and gas company formed in 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,975	58,000	78,862
2023 Total Population :	6,866	57,967	79,097
2023 Employed Civilian Pop :	2,709	22,458	32,057
2023 Total Businesses :	464	2,350	3,049
2023 Average Household Income :	$ 58,613	$ 63,091	$ 70,981
2023 Total Consumer Spending :	$ 151 M	$ 1230 M	$ 1929 M
2023 Median Age :	39	37	39
2023 Total Households :	2,919	22,166	31,023
2023 Pop Age 25+: Bachelor's Degree :	537	5,107	8,103
2023 Average Home Value :	$ 150,380	$ 164,765	$ 193,008

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N West Ave	Sparks St	2015	19,300	0.12 mi
West Monroe Street	N Wisner St	2022	4,724	0.17 mi
Andrew Avenue	Royal Dr	2022	3,253	0.25 mi
Lansing Ave	Royal Dr	2021	3,513	0.25 mi
Andrew Avenue		2019	3,610	0.25 mi
Clinton Road	Backus St	2022	3,201	0.25 mi
BETWEEN JEFFERSON AND ADAMS (IN JACKSON)	Adams St	2021	4,125	0.25 mi
BETWEEN M-50 AND WISNER (IN JACKSON)	N West Ave	2021	7,665	0.34 mi
	N Wisner St	2022	7,673	0.34 mi
	I- 94	2022	18,908	0.34 mi

Listing Broker

Max Lippitt

Landmark

Contact

18 Listings
3129 Views
3 Sold

Daniel Kukes

Landmark

Contact

17 Listings
3005 Views
3 Sold

Max Lippitt

Maxwell Lippitt graduated from Michigan State University in 2016 with a Bachelor of Science degree in Economics. During College, Max was an intern in Landmark’s Investment Sales department. Upon graduating, Max became an associate broker at CBRE specializing in the disposition of single tenant medical, retail, and office properties. While at CBRE, Max researched, sourced, and tracked thousands of investment properties while building strong relationships with a wide variety of property owners al

...

Daniel Kukes

Daniel Kukes is a Partner of Landmark Commercial Real Estate Services, LLC and a Co-Founder and Partner of the Landmark Investment Sales Team. Daniel specializes in the sale of retail shopping centers and single tenant net lease investment properties of all property types across the country. He currently represents some of the nation’s largest institutional funds, private equity funds, and high net worth investors in listing investment properties nationwide. Since 2010, Daniel has closed dea

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT