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Views: 63 DOM: 219 Updated: 05.06.24 Posted: 10.27.23 Status: Active

Summary

Price $1,449,000
Built/Renov 1987/2022
Tenant Strickland Brothers
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,211
Lease Start 04-25-2002
#Units 173
Price/SF $1,196.53
Expiration 04-30-2037
Tenant Type Automotive
NOI $94,192
R. Term 12.11
Ownership Fee Simple
Rent/SF $77.78
Increases 10.0%/3/yrs
Pop 5Mi 26,770
Lot/AC 0.43
Options 4/5yrs/10%
AHHI 5Mi $69,963

Lease Highlights

  • Recent renovation
  • Strickland Brothers has 13+ years remaining on the base term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero Landlord responsibilities
  • Asset may be eligible for Bonus Depreciation | Speak with your CPA/Tax Advisor to confirm
  • Corporate guaranteed lease

Location Description

Strickland Brothers enjoys excellent access and visibility from Rogers St, where the daily traffic count averages 25,650 vehicles. The property is conveniently located just a few blocks from the main retail corridor of Princeton and is approximately one mile from Princeton High. It is also within a mile of national retailers like Family Dollar and Kroger. Furthermore, it's just over 1.5 miles...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Strickland Brothers
  • Guarantor:Corporate
  • Company:Princeton Equity Group
  • # Units:173
  • Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change, and offers a list of...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,280 17,388 26,074
2023 Total Population : 4,432 17,894 26,690
2023 Employed Civilian Pop : 1,860 7,765 11,435
2023 Total Businesses : 425 900 1,087
2023 Average Household Income : $ 57,975 $ 66,264 $ 66,500
2023 Total Consumer Spending : $ 104 M $ 462 M $ 689 M
2023 Median Age : 45 45 46
2023 Total Households : 2,017 7,869 11,682
2023 Pop Age 25+: Bachelor's Degree : 499 2,221 3,388
2023 Average Home Value : $ 106,283 $ 136,245 $ 137,793
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Brick Street S 2nd St 2021 20,771 0.15 mi
Rogers Street Dejarnette Ave 2021 11,352 0.21 mi
Rogers St Saunders Ave 2015 14,675 0.31 mi
CR 27 US Hwy 460 2021 1,310 0.42 mi
N 1st St 2021 11,334 0.51 mi
North Caperton Avenue Prince St 2021 681 0.60 mi
Mercer Street S 8th St 2021 8,876 0.69 mi
Ingleside Road South Ave 2021 6,089 0.78 mi
Ingleside Road Davis St 2021 11,701 0.81 mi
North Wickham Avenue Brown St 2021 1,227 0.81 mi

Listing Broker

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