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Views: 64 DOM: 52 Updated: 07.18.24 Posted: 07.18.24 Status: Active

Summary

Price $2,291,500
Built/Renov 2024
Tenant Murphy Express (GL)
Cap Rate 5.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,824
Lease Start 09-01-2024
#Units 1,733
Price/SF $811.44
Expiration 09-01-2044
Tenant Type Automotive
NOI $118,000
R. Term 19.12
Ownership Ground Lease
Rent/SF $41.78
Increases 8.0%/5/yrs
Pop 5Mi 48,647
Lot/AC 1.08
Options 4/5yrs/8%
AHHI 5Mi $88,196

Lease Highlights

  • Brand-new 2024 construction
  • 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

Murphy Express is strategically located on North Main Street, with access to 25,000 vehicles passing by daily. The site features a large format store with 16 fueling positions and 8 pumps. Positioned as a pad site to the high-performing Lowe’s Home Improvement, the property enjoys proximity to the Railhead Development, which is less than 1 mile away and includes over 1,300 residential and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Murphy Express
  • 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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