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Views: 221 DOM: 156 Updated: 11.05.24 Posted: 07.18.24 Status: Active

Summary

Price $4,867,000
Built/Renov 2024
Tenant QuickChek (GL)
Cap Rate 5.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,670
Lease Start 08-01-2024
#Units 160
Price/SF $858.38
Expiration 07-31-2044
Tenant Type Convenience/Gas
NOI $275,000
R. Term 19.7
Ownership Ground Lease
Rent/SF $48.50
Increases 8.0%/5/yrs
Pop 5Mi 111,416
Lot/AC 2.33
Options 4/5yrs/8%
AHHI 5Mi $109,147

Lease Highlights

  • New High-Quality 2024 Construction
  • Brand-new 20-year ground lease with 4 (5-year) options to extend
  • The lease features 8% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: MUSA)

Location Description

QuickChek is strategically located on Memorial Parkway, with access to a substantial daily traffic count of 51,141 vehicles. The property occupies a prime location within a robust retail corridor, surrounded by numerous shopping centers and major employers. It enjoys close proximity to well-known national retailers such as Target, Walmart Supercenter, ALDI, Stop & Shop, and more. Additionally,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: QuickChek
  • Guarantor:Corp T and Rated
  • Company:Murphy USA
  • # Units:160
  • Tenant S&P: BB+
  • Moody’s: Ba1
  • Stock: NYSE: MUSA

About Tenant

QuickChek Express is part of a regional chain of convenience stores offering various grocery and market items including custom-made, oven-toasted subs, sandwiches, wraps and salads, and fresh...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 13,640 75,483 117,091
2024 Total Population : 13,434 73,868 114,738
2024 Employed Civilian Pop : 6,492 36,025 58,784
2024 Total Businesses : 438 2,416 3,711
2024 Average Household Income : $ 91,530 $ 100,657 $ 110,468
2024 Total Consumer Spending : $ 452 M $ 2462 M $ 4230 M
2024 Median Age : 40 39 41
2024 Total Households : 5,578 27,855 43,878
2024 Pop Age 25+: Bachelor's Degree : 1,821 9,737 17,055
2024 Average Home Value : $ 266,458 $ 321,790 $ 347,589
*ESRI data is presented for informational purposes only

Listing Broker

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