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Views: 110 DOM: 126 Updated: 10.11.24 Posted: 07.30.24 Status: Active

Summary

Price $2,664,000
Built/Renov 1984
Tenant GPM Investments (Phillips 66)
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,178
Lease Start 06-19-2017
#Units 1,543
Price/SF $838.26
Expiration 06-30-2032
Tenant Type Convenience/Gas
NOI $186,446
R. Term 7.7
Ownership Fee Simple
Rent/SF $58.67
Increases 1.5%/1/yrs
Pop 5Mi 129,502
Lot/AC 0.71
Options 4/5yrs/1.5%
AHHI 5Mi $88,137

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 near the signalized, hard corner intersection of State Road 23 and North Main Street with access to a combined 45,088 vehicles passing by daily. The property is surrounded by well-known national tenants, including CVS Pharmacy, PNC Bank, Sports Clips, Supercuts, and more. The 5-mile trade area supports a population of 129,502 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 : 6,882 50,190 128,314
2024 Total Population : 6,717 50,812 129,246
2024 Employed Civilian Pop : 3,731 25,802 65,268
2024 Total Businesses : 555 2,018 5,044
2024 Average Household Income : $ 100,302 $ 104,654 $ 95,684
2024 Total Consumer Spending : $ 297 M $ 2015 M $ 4341 M
2024 Median Age : 36 39 36
2024 Total Households : 3,347 21,924 51,485
2024 Pop Age 25+: Bachelor's Degree : 1,675 9,410 19,927
2024 Average Home Value : $ 317,682 $ 294,281 $ 264,625
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Edwardsburg Highway Filbert Rd 2021 17,281 0.12 mi
North Main Street State Rd23 2021 22,059 0.13 mi
Gumwood Road Darden Rd 2021 16,980 0.18 mi
East University Drive N Main St 2021 15,053 0.23 mi
Cleveland Road Ruth St 2021 24,900 0.26 mi
University Drive N Main St 2021 8,957 0.34 mi
Gumwood Road Toscana Blvd 2021 22,059 0.39 mi
Cleveland Road Leo St 2018 23,029 0.42 mi
East University Drive University Dr Ct 2018 7,825 0.48 mi
I- 80 2021 25,721 0.50 mi

Listing Broker

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