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Views: 89 Updated: 12.05.23 Posted: 05.10.23 Status: Inactive

Summary

Price $2,400,000
Built/Renov 1992
Tenant Holiday Gas
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,800
Lease Start 12-28-2022
#Units 30
Price/SF $857.14
Expiration 12-31-2038
Tenant Type Convenience/Gas
NOI $156,000
R. Term 14.0
Ownership Fee Simple
Rent/SF $55.71
Increases 10.0%/4/yrs
Pop 5Mi 73,193
Lot/AC 1.08
Options 2/5yrs/10%
AHHI 5Mi $81,017

Lease Highlights

  • Holiday has been operating in this location for 10 years
  • Tenant has 15+ years remaining in its current term with 2 (5-year) options to renew
  • Lease features 10% rent increases every 5 years and at the start of option periods.
  • Absolute NNN | Zero landlord responsibilities
  • Guaranteed by Cenergy LLC (30-unit Holiday gas station owner/operator; 90+ units managed)

Location Description

The Holiday gas station and convenience store has great visibility along Highway 12, the area’s primary growth corridor. The property is situated at the signalized intersection of Highway 12 and 3rd Street East, with multiple points of ingress/egress from Hillcrest Parkway. The site is surrounded by many residential developments as well as multiple retail and office tenants such as Citizens...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Holiday Stationstores, LLC, dba Holiday, is a chain of gasoline and convenience stores operating throughout the Upper Midwest, West Coast, and Alaskan regions of the United States. The company...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,959 35,832 76,124
2023 Total Population : 7,361 35,311 75,073
2023 Employed Civilian Pop : 3,821 18,233 39,794
2023 Total Businesses : 182 1,836 3,349
2023 Average Household Income : $ 90,205 $ 92,882 $ 87,775
2023 Total Consumer Spending : $ 250 M $ 1257 M $ 2389 M
2023 Median Age : 39 39 35
2023 Total Households : 3,191 15,584 31,302
2023 Pop Age 25+: Bachelor's Degree : 1,251 6,278 11,824
2023 Average Home Value : $ 245,078 $ 282,238 $ 277,403
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Hwy 12 Nottingham Way 2017 11,300 0.16 mi
US Hwy 12 McCann Dr 2017 12,100 0.49 mi
3rd Street East N Hillcrest Pkwy 2021 3,000 0.49 mi
3rd St E Daniels Ave 2017 3,600 0.49 mi
3rd St E Bartlett Ave 2017 3,100 0.65 mi
Southridge Dr 2021 1,400 0.68 mi
Bartlett Avenue 4th St W 2021 2,400 0.84 mi
1st Street West Spooner Ave 2021 1,500 0.89 mi
10th Street West Spooner Ave 2021 3,900 0.93 mi
10th St W Hillside Dr 2014 4,600 0.93 mi

Listing Broker

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