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Views: 104 DOM: 165 Updated: 10.25.24 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 19.8
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
  • 8% rental increases every 5 years in primary term and option periods
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,968 25,304 48,765
2024 Total Population : 3,896 24,282 46,340
2024 Employed Civilian Pop : 1,495 10,909 21,489
2024 Total Businesses : 155 1,250 1,756
2024 Average Household Income : $ 45,999 $ 72,255 $ 85,527
2024 Total Consumer Spending : $ 51 M $ 540 M $ 1258 M
2024 Median Age : 38 36 38
2024 Total Households : 1,223 8,346 16,536
2024 Pop Age 25+: Bachelor's Degree : 236 1,661 4,250
2024 Average Home Value : $ 203,861 $ 216,392 $ 274,073
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Maple St Woodbine St 2009 1,490 0.13 mi
N Main St Maple St 2004 29,170 0.21 mi
Pipeline Rd Century Dr 2004 420 0.31 mi
W Katherine P Rains Rd Pipeline Rd 2009 16,000 0.33 mi
W Katherine P Rains Rd 2021 428 0.35 mi
W Katherine P Rains Rd 2022 391 0.35 mi
Pipeline Rd Weatherford Hwy 2004 370 0.37 mi
Pipeline Rd Marti Rd 2004 400 0.42 mi
North Main Street E Katherine P Rains Rd 2022 27,601 0.42 mi
North Main Street Weatherford Hwy 2022 23,255 0.43 mi

Listing Broker

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