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Views: 64 DOM: 108 Updated: 10.11.24 Posted: 07.30.24 Status: Active

Summary

Price $3,874,000
Built/Renov 1990
Tenant GPM Investments (Marathon)
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,690
Lease Start 06-19-2017
#Units 1,543
Price/SF $503.77
Expiration 06-30-2032
Tenant Type Convenience/Gas
NOI $280,890
R. Term 7.7
Ownership Fee Simple
Rent/SF $36.53
Increases 1.5%/1/yrs
Pop 5Mi 174,327
Lot/AC 1.14
Options 4/5yrs/1.5%
AHHI 5Mi $79,167

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 at the signalized, hard corner intersection of Grape Road and West Edison Road, with a combined access to 40,868 vehicles passing by daily. The property is surrounded by well-known national tenants, including AT&T, IHOP, Whole Foods, Cold Stone, Bonefish Grill, and more. The 5-mile trade area supports a population of 174,327 residents with an...

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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 : 10,753 79,729 172,939
2024 Total Population : 10,983 80,109 174,366
2024 Employed Civilian Pop : 5,586 40,280 84,988
2024 Total Businesses : 648 3,438 6,464
2024 Average Household Income : $ 55,324 $ 78,958 $ 87,015
2024 Total Consumer Spending : $ 283 M $ 2300 M $ 5392 M
2024 Median Age : 36 33 35
2024 Total Households : 5,724 32,793 70,038
2024 Pop Age 25+: Bachelor's Degree : 1,263 11,685 24,336
2024 Average Home Value : $ 223,388 $ 235,628 $ 237,740
*ESRI data is presented for informational purposes only

Listing Broker

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