loader
Join Free
Views: 136 DOM: 232 Updated: 09.10.24 Posted: 05.04.24 Status: Active

Summary

Price $3,540,000
Built/Renov 2023
Tenant Murphy Express (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,824
Lease Start 06-01-2023
#Units 1,733
Price/SF $1,253.54
Expiration 05-31-2043
Tenant Type Convenience/Gas
NOI $177,000
R. Term 18.5
Ownership Ground Lease
Rent/SF $62.68
Increases 8.0%/4/yrs
Pop 5Mi 330,279
Lot/AC 0.97
Options 4/5yrs/8%
AHHI 5Mi $71,104

Lease Highlights

  • Brand new 2023 construction
  • Murphy Express has 18+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Murphy Express is strategically located at the signaled, hard-corner intersection of NW South River Drive and NW 116th Way, with access to 68,500 vehicles passing by daily. The property is surrounded by well-known national tenants including Wawa, Denny’s, Exxon, Walmart, Subway, and more. The 5-mile trade area is supported by a robust population of 330,279 residents with an average household...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity