loader
Join Free
Views: 15 DOM: 13 Updated: 11.08.24 Posted: 11.08.24 Status: Active

Summary

Price $2,340,000
Built/Renov 2024
Tenant Murphy USA (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,824
Lease Start 02-15-2024
#Units 1,733
Price/SF $828.61
Expiration 12-31-2044
Tenant Type Convenience/Gas
NOI $117,000
R. Term 20.1
Ownership Ground Lease
Rent/SF $48.47
Increases 8.0%/5/yrs
Pop 5Mi 143,065
Lot/AC 1.95
Options 4/5yrs/8%
AHHI 5Mi $77,611

Lease Highlights

  • Brand new 2024 construction | Estimated completion December
  • Brand 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
  • Priced well below replacement cost
  • Corporate guaranteed lease (NYSE: MUSA)

Location Description

The subject property is strategically positioned at a highly visible and easily accessible hard corner location at the signalized intersection of Paredes Line Rd and E Alton Gloor Blvd, benefiting from outstanding daily traffic counts of over 25,000 vehicles. It is located close to the University of Texas Rio Grande Valley, which has an enrollment of over 26,400 students. Nearby national...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Murphy USA
  • 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...


...

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