Chevron (Truck Stop)

2499 U.S. 319, Thomasville, GA 31792

$4,628,571

Cap Rate 7.15%

Views: 132 Updated: 04.05.24 Posted: 09.13.23 Status: Inactive 03.27.24

Summary

Price $4,628,571	Built/Renov 1996/2022	Tenant Chevron (Truck Stop)
Cap Rate 7.15%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,721	Lease Start 01-01-2024	#Units 53
Price/SF $1,701.06	Expiration 12-31-2039	Tenant Type Convenience/Gas
NOI $330,843	R. Term 15.0	Ownership Fee Simple
Rent/SF $121.59	Increases 2.0%/1/yrs	Pop 5Mi 26,319
Lot/AC 2.71	Options 3/5yrs/2%	AHHI 5Mi $96,538

Andrew Ackerman

Sands Investment Group

Contact

Lease Highlights

Building was renovated in 2022 and rebranded as Chevron (formerly Texaco)
Tenant will sign a brand-new 15-year lease upon close of escrow with 3 (5-year) options to extend
Lease features 2% rent increases each year during initial term and at the start of options
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by 27th Investments, Inc (50+ units under 27th Group Properties)
Chevron is an investment grade tenant (S&P: AA-)

Location Description

This newly renovated Chevron is located on a hard corner with great visibility and access. The property is exposed to heavy traffic off Highway 319. Nearby Tenants Include: Loanmax Title Loans, Turner’s Fine Furniture, Beachton Dental Center and Loblolly Rise Plantation, creating a consumer draw to the immediate trade area. The site benefits from having an average household income of $96,538...

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Key Features

Recent renovation
Hard corner intersection
Major thoroughfare
Highway location
Affluent suburb location
Brand new lease
Long 15+ yr lease
Absolute NNN
Accelerated depreciation
Annual rent increases

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Links

Chevron Wikipedia Chevron Wikipedia Thomasville, Georgia Zip Code 31792 Broker Site Page

Maps

Local Information

1 Mile
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Tenant

Tenant: Chevron
Guarantor:Franchisee
Company:27th Group Properties
# Units:53
Tenant S&P: AA-
Moody’s: Aa2
Stock: NYSE: CVX

About Tenant

Chevron Corporation (NYSE: CVX) is an American multinational energy corporation predominantly in oil and gas, and is the second largest oil company in America. Founded in 1879, Chevron Corporation...

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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US 319;GA 35	US Hwy 319	2021	12,000	0.41 mi
State Rte 93 S	Hwy 319	2018	8,550	1.24 mi
GA 35	Southern TerRd	2021	10,100	1.24 mi
Thomasville Rd	Sunny Hill Rd	2005	9,700	1.88 mi
Thomasville Road	Handy Ln	2021	11,000	2.21 mi
Meridian Road	Walden Rd	2021	1,010	2.27 mi
Meridian Road	Walden Rd	2018	1,000	2.27 mi
Metcalf Rd	Springwood Plantation Rd	2005	220	2.73 mi
State Highway 12	Thomasville Rd	2011	800	2.74 mi
Meridian Road	Beth Page Rd 154	2021	610	2.97 mi

Listing Broker

Andrew Ackerman

Sands Investment Group

Contact

60 Listings
8474 Views
28 Sold

Andrew Ackerman

Andrew is a seasoned CRE professional with over 10 years experience and has closed over $500M in transaction volume over the course of his career. Andrew has a proven track record in brokerage as well team management which he’s done in several capacities since first joining Marcus & Millichap in 2005. Before joining SIG, Andrew was a top producing agent at Stan Johnson Company’s Atlanta office, he brokered the closing of a 16-store sale leaseback for $26M while receiving the company’s Mento

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