Quik Mart

4280 East Benson Highway, Tucson, AZ 85706

$2,783,000

Cap Rate 6.00%

Views: 134 DOM: 194 Updated: 11.08.24 Posted: 09.21.24 Status: Active

Summary

Price $2,783,000	Built/Renov 1971	Tenant Quik Mart
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,323	Lease Start 04-05-2023	#Units 17
Price/SF $1,198.02	Expiration 04-30-2043	Tenant Type Convenience/Gas
NOI $167,000	R. Term 18.1	Ownership Fee Simple
Rent/SF $71.89	Increases 10.0%/5/yrs	Pop 5Mi 156,781
Lot/AC 0.97	Options 4/5yrs/10%	AHHI 5Mi $55,369

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 throughout the initial term and option periods
Property qualifies for 60% year one bonus depreciation or 15-year accelerated depreciation per IRS 1250 Property Designation
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Quik Mart is strategically located on E Benson Highway, with access to 8,400 vehicles passing by daily. The property benefits from its proximity to the I-10 Freeway, which sees 80,000 VPD, and is within a 10-minute drive of both Davis-Monthan Air Force Base and Tucson International Airport. The surrounding area features prominent national tenants such as Dollar General, Circle K, and Amazon....

...

Key Features

Hard corner intersection
Build to suit
Freeway close
Highway location
Dense 100M+ pop 5 mi
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Corporate Guarantee

...

Links

Quik Mart Wikipedia Tucson, Arizona Zip Code 85706 Broker Site Page

Maps

Image may be subject to copyright

Terms

Report a problem

Image may be subject to copyright

Terms

Report a problem

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Quik Mart
Guarantor:Corporate
Company:LPT Retail Management 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...

...

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
31580 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
31687 Views
128 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

...

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

...

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