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Views: 102 Updated: 05.17.24 Posted: 11.30.23 Status: Inactive

Summary

Price $2,229,000
Built/Renov 1995/2023
Tenant Strickland Brothers
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,065
Lease Start 05-01-2024
#Units 173
Price/SF $1,079.42
Expiration 04-30-2039
Tenant Type Automotive
NOI $156,000
R. Term 14.5
Ownership Fee Simple
Rent/SF $75.54
Increases 10.0%/5/yrs
Pop 5Mi 10,917
Lot/AC 0.66
Options 4/5yrs/10%
AHHI 5Mi $60,482

Lease Highlights

  • Location remodeled in 2023
  • Strickland Brothers to sign a new 15-year lease with 4 (5-year) options to extend upon close of escrow
  • The lease features 10% rental increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Strickland Brothers is strategically located on Peachtree Street, just off Andrew Jackson Hwy (US-74), with access to 13,000 vehicles passing by daily. The property boasts excellent visibility and access from Peachtree St, which serves as the main throughfare through downtown Murphy. In the vicinity are well-known national retailers such as Subway, McDonald's, AutoZone, Advanced Auto Parts,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Strickland Brothers
  • Guarantor:Corporate
  • Company:Princeton Equity Group
  • # Units:173
  • Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change and offers a list of...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,369 4,957 9,490
2023 Total Population : 1,335 4,870 9,293
2023 Employed Civilian Pop : 562 1,987 3,736
2023 Total Businesses : 296 578 755
2023 Average Household Income : $ 72,356 $ 76,070 $ 73,089
2023 Total Consumer Spending : $ 40 M $ 146 M $ 267 M
2023 Median Age : 49 51 51
2023 Total Households : 622 2,148 4,076
2023 Pop Age 25+: Bachelor's Degree : 272 802 1,408
2023 Average Home Value : $ 201,511 $ 216,765 $ 228,321
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Peachtree St Jackson St 2004 5,300 0.22 mi
Andrew Jackson Highway Jackson St 2018 20,000 0.23 mi
US Hwy 129 Hwy 64 2004 18,000 0.24 mi
Valley River Avenue Campbell St 2018 9,800 0.25 mi
Valley River Avenue Thomas St 2021 7,900 0.25 mi
Valley River Avenue 2019 9,100 0.25 mi
Hwy 19 2021 20,500 0.25 mi
Hiwassee Street Church 2019 9,700 0.28 mi
Valley River Avenue Swain St 2018 8,400 0.28 mi
Hiwassee Valley River Ave 2004 9,900 0.28 mi

Listing Broker

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