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Views: 173 DOM: 307 Updated: 09.06.24 Posted: 02.18.24 Status: Active

Summary

Price $1,950,000
Built/Renov 2019
Tenant Shell (GL)
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,925
Lease Start 04-15-2020
#Units 1
Price/SF $395.94
Expiration 04-30-2040
Tenant Type Convenience/Gas
NOI $136,553
R. Term 15.4
Ownership Ground Lease
Rent/SF $27.73
Increases 1.3%/1/yrs
Pop 5Mi 70,117
Lot/AC 1.40
Options 4/5yrs/1.25%
AHHI 5Mi $90,526

Lease Highlights

  • Shell has 16+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 1.25% annual rental escalations throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Shell is strategically located at the signalized, hard corner intersection of Wicker Blvd. and W 109th Avenue, with access to a combined daily traffic count of 46,006 vehicles. The property is surrounded by community establishments including Coyne Veterinary Center, First Merchants Bank, Chop House on Wicker, Cousins Subs, Kubiak’s Service & Towing, Family Express, Gerber Collision & Glass,...

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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 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 Trading Company of...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,541 29,779 83,924
2023 Total Population : 2,509 28,716 81,164
2023 Employed Civilian Pop : 999 14,253 41,581
2023 Total Businesses : 56 560 1,680
2023 Average Household Income : $ 141,548 $ 137,389 $ 121,341
2023 Total Consumer Spending : $ 122 M $ 1219 M $ 3201 M
2023 Median Age : 43 42 42
2023 Total Households : 1,022 10,437 30,878
2023 Pop Age 25+: Bachelor's Degree : 525 5,023 13,388
2023 Average Home Value : $ 333,325 $ 347,711 $ 324,440
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
231 W Schneider Ct 2020 14,517 0.04 mi
Wicker Avenue W 108th Ave 2021 22,824 0.05 mi
West 109th Avenue Huron St 2021 11,080 0.11 mi
Wicker Avenue W 109th Ave 2021 19,661 0.32 mi
West 109th Avenue Olcott Ave 2021 11,080 0.55 mi
Olcott Avenue W 107th Pl 2021 3,350 0.65 mi
W 107th Ave 2021 3,350 0.67 mi
West 105th Avenue S Magoun Dr 2021 2,150 0.68 mi
Wicker Ave W 103rd St 2003 19,710 0.74 mi
Bull Run Drive Homestead Village Ct 2021 2,150 0.77 mi

Listing Broker

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