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Views: 42 DOM: 78 Updated: 09.06.24 Posted: 07.03.24 Status: Active

Summary

Price $6,776,000
Built/Renov 2003/2008
Tenant QuickChek Express
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,900
Lease Start 11-01-2018
#Units 160
Price/SF $2,336.55
Expiration 10-31-2028
Tenant Type Convenience/Gas
NOI $508,200
R. Term 4.1
Ownership Fee Simple
Rent/SF $175.24
Increases 10.0%/5/yrs
Pop 5Mi 44,317
Lot/AC 2.75
Options 4/5yrs/10%
AHHI 5Mi $79,177

Lease Highlights

  • QuickChek Express has 4+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

QuickChek Express is strategically located at a signalized three-way, hard corner intersection of Sawkill Road and Washington Avenue, with access to a combined daily traffic count of 18,946 vehicles. The property is situated within 0.5 miles of Uptown Kingston, a major historical retail and commercial corridor. The immediate area is surrounded by well-known national tenants including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: QuickChek
  • Guarantor:Corp T and Rated
  • Company:Murphy USA
  • # Units:160
  • Tenant S&P: BB+
  • Moody’s: Ba1
  • Stock: NYSE: MUSA

About Tenant

QuickChek Express is part of a regional chain of convenience stores offering various grocery and market items including custom-made, oven-toasted subs, sandwiches, wraps and salads, and fresh...


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Listing Broker

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