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Views: 139 DOM: 293 Updated: 08.23.24 Posted: 11.28.23 Status: Active 05.10.24

Summary

Price $4,797,000
Built/Renov 1998
Tenant Roadrunner
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 7,491
Lease Start 05-01-2022
#Units 92
Price/SF $640.37
Expiration 04-30-2037
Tenant Type Convenience/Gas
NOI $287,804
R. Term 12.7
Ownership Fee Simple
Rent/SF $38.42
Increases 10.0%/4/yrs
Pop 5Mi 73,848
Lot/AC 2.02
Options 0/0yrs
AHHI 5Mi $71,927

Lease Highlights

  • Roadrunner has 13+ years remaining on the current lease term
  • Lease features 10% rental escalations every 5 years
  • Asset qualifies for bonus depreciation
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Roadrunner is strategically located at the corner of Milligan Highway and Twin Oaks Drive, with an average of 12,800 vehicles passing daily. The property is situated adjacent to I-26 (56,000 VPD), allowing users to benefit from direct on/off ramp access. The asset is equipped with a Dunkin’ drive-thru, boosting sales and increasing productivity. The immediate trade vicinity is sustained by...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Roadrunner Markets is a brand of convenience stores primarily in the Southeast region of the United States. Founded in 1977, its first convenience store opened in Greeneville, TN in 1980....


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,353 42,121 74,299
2023 Total Population : 7,375 42,058 73,848
2023 Employed Civilian Pop : 3,161 17,332 31,698
2023 Total Businesses : 141 1,318 2,946
2023 Average Household Income : $ 54,421 $ 63,668 $ 71,927
2023 Total Consumer Spending : $ 153 M $ 932 M $ 1977 M
2023 Median Age : 34 35 39
2023 Total Households : 3,189 16,630 31,357
2023 Pop Age 25+: Bachelor's Degree : 896 5,229 10,542
2023 Average Home Value : $ 185,986 $ 215,850 $ 228,002
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Milligan Highway Lynn Dr 2022 12,211 0.06 mi
MILLIGAN HWY. Twin Oaks Dr 2021 11,388 0.06 mi
Milligan Hwy Smith Dr 2003 12,800 0.21 mi
I- 181 2022 2,669 0.34 mi
I- 181 Quarry Dr 2003 18,210 0.38 mi
University Pkwy 2022 12,895 0.40 mi
University Pkwy 2022 2,547 0.41 mi
E Highland Rd 2022 13,597 0.44 mi
Milligan Road Lauderdale Ln 2022 122 0.53 mi
E Highland Rd 2018 51,472 0.54 mi

Listing Broker

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