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Marathon

1321 Wilson Road, Newberry, SC 29108

$811,871

Cap Rate 7.00%

Views: 83 DOM: 126 Updated: 09.19.24 Posted: 06.14.24 Status: Active 06.14.24

Summary

Price $811,871
Built/Renov 1800
Tenant Marathon
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,604
Lease Start 08-18-2022
#Units 8,331
Price/SF $311.78
Expiration 08-17-2042
Tenant Type Convenience/Gas
NOI $56,831
R. Term 17.10
Ownership Fee Simple
Rent/SF $21.82
Increases 3.0%/1/yrs
Pop 5Mi 17,606
Lot/AC 0.66
Options 4/5yrs/3%
AHHI 5Mi $62,046

Ronnie Issenberg
Marcus & Millichap
Contact

Gabriel Britti
Marcus & Millichap
Contact

Lease Highlights

  • Marathon has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 3% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Marathon is strategically located on Wilson Road, with access to 18,000 vehicles passing by daily. The property is surrounded by well-known national tenants, including McDonald's, Starbucks, Dunkin Donuts, Hardee's, CVS, and more. Numerous apartment complexes, such as Regency Woods Apartments, Indian Land Apartments, and Brookside Manor Apartments, are also in the vicinity. Nearby colleges and...

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Key Features

  • Build to suit

  • Dense retail corridor

  • Near major nationals

  • Long 15+ yr lease

  • Absolute NNN

  • Accelerated depreciation

  • Annual rent increases

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Marathon Petroleum Corporation Wikipedia Marathon Petroleum Wikipedia Newberry, South Carolina Zip Code 29108 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Marathon
  • Guarantor:Corp T and Rated
  • Company:Marathon Petroleum Corporation
  • # Units:8,331
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: MPC

About Tenant

Marathon Petroleum Company (MPC) is an American petroleum refining, marketing and transportation company. The company operates the nation’s largest refining system. MPC’s marketing system includes...


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Listing Broker

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