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Views: 86 DOM: 55 Updated: 07.26.24 Posted: 07.26.24 Status: Active

Summary

Price $3,800,000
Built/Renov 2020
Tenant Fast Stop
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,766
Lease Start 12-01-2023
#Units 40
Price/SF $1,373.83
Expiration 12-01-2043
Tenant Type Convenience/Gas
NOI $285,000
R. Term 19.2
Ownership Fee Simple
Rent/SF $103.04
Increases 10.0%/5/yrs
Pop 5Mi 163,871
Lot/AC 0.52
Options 2/5yrs/10%
AHHI 5Mi $74,384

Lease Highlights

  • Fast Stop has 19+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Fast Stop is strategically located on Downman Rd, a major retail thoroughfare with access to 17,100 vehicles passing by daily. The property benefits from excellent visibility due to its significant street frontage and large sign, and it has multiple points of ingress and egress. Additionally, it is situated across from a UPS Shipping Center and within 2 miles of The University of New Orleans,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Fast Stop
  • Guarantor:Corporate
  • Company:Fast Stop
  • # Units:40
  • Stock:Private

About Tenant

Founded in 2015, Fast Stop is a privately held chain of gas stations and convenience stores throughout Louisiana. Fast Stop is not just a gas and fuel company, as they also have their own brand of...


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Listing Broker

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