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Views: 104 DOM: 126 Updated: 11.08.24 Posted: 07.30.24 Status: Active

Summary

Price $4,616,000
Built/Renov 2000
Tenant GPM Investments (Fast Fuels)
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,960
Lease Start 06-19-2017
#Units 1,543
Price/SF $930.65
Expiration 06-30-2032
Tenant Type Convenience/Gas
NOI $300,068
R. Term 7.7
Ownership Fee Simple
Rent/SF $60.50
Increases 1.5%/1/yrs
Pop 5Mi 229,124
Lot/AC 1.18
Options 4/5yrs/1.5%
AHHI 5Mi $139,737

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 State Highway 121, with access to a substantial daily traffic count of 90,740 vehicles. The immediate area boasts well-known national tenants, including Chili's, Whataburger, McDonald's, Jack in the Box, Chick-fil-A, and more. The 5-mile trade area supports a population of 229,124 residents with an affluent average household income of $139,737....

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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 : 16,600 96,496 231,564
2024 Total Population : 14,938 91,944 225,749
2024 Employed Civilian Pop : 9,198 55,343 134,639
2024 Total Businesses : 492 2,230 7,875
2024 Average Household Income : $ 147,372 $ 151,161 $ 151,688
2024 Total Consumer Spending : $ 806 M $ 4743 M $ 12097 M
2024 Median Age : 35 37 38
2024 Total Households : 6,271 36,138 91,742
2024 Pop Age 25+: Bachelor's Degree : 3,891 23,812 60,720
2024 Average Home Value : $ 534,090 $ 525,775 $ 567,587
*ESRI data is presented for informational purposes only

Listing Broker

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