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Views: 118 DOM: 116 Updated: 11.08.24 Posted: 07.30.24 Status: Active

Summary

Price $2,490,000
Built/Renov 1998
Tenant GPM Investments (Phillips 66)
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,336
Lease Start 06-19-2017
#Units 1,543
Price/SF $746.40
Expiration 06-30-2032
Tenant Type Convenience/Gas
NOI $174,290
R. Term 7.7
Ownership Fee Simple
Rent/SF $52.25
Increases 1.5%/1/yrs
Pop 5Mi 5,922
Lot/AC 0.89
Options 4/5yrs/1.5%
AHHI 5Mi $59,449

Lease Highlights

  • 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.5% annual rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The subject property is strategically located on South Main Street, with access to 9,200 vehicles passing by daily. The property is surrounded by well-known national tenants, including McDonald's, Subway, O'Reilly Auto Parts, Sonic, and more. The 5-mile trade area supports a population of 5,922 residents with an average household income of $59,449. Eufaula is a city and the county seat of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

GPM Investments, LLC is the sixth largest convenience store operator in the United States, with brands including Scotchman, Shore Stop, Dixie Mart, Fas Mart, among several others. Their operations...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 1,857 3,568 5,977
2024 Total Population : 1,855 3,548 5,955
2024 Employed Civilian Pop : 555 1,092 1,844
2024 Total Businesses : 187 283 317
2024 Average Household Income : $ 47,178 $ 49,631 $ 57,287
2024 Total Consumer Spending : $ 31 M $ 67 M $ 135 M
2024 Median Age : 46 48 52
2024 Total Households : 733 1,494 2,591
2024 Pop Age 25+: Bachelor's Degree : 81 166 451
2024 Average Home Value : $ 189,616 $ 195,576 $ 223,239
*ESRI data is presented for informational purposes only

Listing Broker

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