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Views: 12 DOM: 9 Updated: 09.10.24 Posted: 09.10.24 Status: Active

Summary

Price $2,400,000
Built/Renov 2024
Tenant Murphy USA (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,824
Lease Start 12-01-2024
#Units 1,733
Price/SF $849.86
Expiration 12-01-2044
Tenant Type Convenience/Gas
NOI $120,000
R. Term 20.2
Ownership Ground Lease
Rent/SF $42.49
Increases 8.0%/5/yrs
Pop 5Mi 283,553
Lot/AC 1.22
Options 4/5yrs/8%
AHHI 5Mi $96,158

Lease Highlights

  • Brand new 2024 construction
  • New 20-year ground lease with 4 (5-year) options to extend
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: MUSA)

Location Description

Murphy USA is strategically located at the signalized, hard corner intersection of Montwood Drive and Trawood Drive, with access to a combined daily traffic count of 43,279 vehicles. The property is surrounded by prominent national tenants including Circle K, Starbucks, Burger King, McDonald's, Arby's, and more. The immediate area is well-served by key educational institutions such as Benito...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Murphy USA
  • Guarantor:Corp T and Rated
  • Company:Murphy USA, Inc.
  • # Units:1,733
  • Tenant S&P: BB+
  • Moody’s: Ba1
  • Stock: NYSE: MUSA

About Tenant

Murphy USA Inc. (NYSE: MUSA) is an American corporation operating a chain of retail gas stations across the Southwest, Southeast, Midwest, and Northeast United States. Murphy USA, Inc. locations...


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Listing Broker

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