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Views: 92 DOM: 87 Updated: 11.08.24 Posted: 09.25.24 Status: Active

Summary

Price $2,509,000
Built/Renov 2003
Tenant Shell
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,425
Lease Start 12-01-2023
#Units 1
Price/SF $732.55
Expiration 11-30-2038
Tenant Type Convenience/Gas
NOI $138,000
R. Term 13.11
Ownership Fee Simple
Rent/SF $40.29
Increases 10.0%/4/yrs
Pop 5Mi 200,574
Lot/AC 1.28
Options 0/0yrs
AHHI 5Mi $176,987

Lease Highlights

  • 14 years remaining on the primary lease term 
  • The lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Property qualifies for 60% year one bonus depreciation or 15-year accelerated depreciation per IRS 1250 property designation
  • Personal guarantee by operator

Location Description

Shell is strategically located at the signalized, hard corner intersection of State Bridge Road and Morton Road, with access to a combined daily traffic count of 33,664 vehicles. The property includes a 2,315 sq ft convenience store and a 1,110 sq ft car wash. It is conveniently situated just 5 miles from North Point Mall and 13 miles from the Chattahoochee River National Recreation Area....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Shell
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:1
  • Tenant S&P: A+
  • Moody’s: Aa2
  • Stock: NYSE: SHEL

About Tenant

Shell plc (NYSE: SHEL) is a British multinational oil and gas company formed in 1907 through the merger of the Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and...


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Listing Broker

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