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DOM: 30 Updated: 02.29.24 Posted: 11.28.23 Status: Sold 12.28.23

Summary

Price $2,375,000 $2,525,000
Built/Renov 2016
Tenant Roadrunner
Cap Rate 6.38% 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,257
Lease Start 05-01-2022
#Units 3,200
Price/SF $557.90 $593.14
Expiration 04-30-2037
Tenant Type Convenience/Gas
NOI $151,476
R. Term 11.12
Ownership Fee Simple
Rent/SF $35.58
Increases 10.0%/4/yrs
Pop 5Mi 27,742
Lot/AC 1.37
Options 0/0yrs
AHHI 5Mi $82,521

Lease Highlights

  • Roadrunner has 13+ years remaining on the current lease term
  • Lease features 10% rental escalations every 5 years
  • Asset qualifies for bonus depreciation
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Roadrunner is strategically fronting E Andrew Johnson Hwy, a primary retail thoroughfare serving Greenville, with access to 38,700 vehicles passing by daily. The property boasts excellent visibility and convenient access and is surrounded by major big-box retailers such as Lowe’s, Food City, Hobby Lobby, Walmart Supercenter, and more. Moreover, a high-ranking Lowe’s store is positioned across...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Roadrunner
  • Guarantor:Corp T and Rated
  • Company:ARKO Corp
  • # Units:3,200
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock: NASDAQ: ARKO

About Tenant

GPM Investments LLC is the nation’s sixth-largest convenience store chain, which operates numerous brands including Roadrunner, Shore Stop, Dixie Mart, Fas Mart, and many others. Their operations...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,464 16,585 27,707
2023 Total Population : 2,459 16,636 27,734
2023 Employed Civilian Pop : 931 6,528 10,645
2023 Total Businesses : 267 963 1,412
2023 Average Household Income : $ 68,942 $ 84,997 $ 82,521
2023 Total Consumer Spending : $ 68 M $ 483 M $ 814 M
2023 Median Age : 43 43 44
2023 Total Households : 1,150 6,513 11,213
2023 Pop Age 25+: Bachelor's Degree : 255 2,094 3,151
2023 Average Home Value : $ 247,539 $ 232,229 $ 232,818
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W. ANDREW JOHNSON HWY. Hwy 11E 2020 32,315 0.03 mi
East Andrew Johnson Highway Hwy 11E 2022 38,737 0.12 mi
Fairgrounds Cir 2022 3,081 0.30 mi
Erwin Hwy Dyer St 2003 6,920 0.46 mi
Fairgrounds Road Longview Dr 2022 2,160 0.49 mi
Erwin Highway Edens Rd 2022 5,467 0.62 mi
ERWIN HWY. Liberty Way 2021 6,105 0.62 mi
East Andrew Johnson Highway E Andrew Johnson Hwy 2022 26,831 0.74 mi
US 11E Business Bachman Dr 2021 9,149 0.79 mi
East Andrew Johnson Highway E Andrew Johnson Hwy 2022 25,499 0.80 mi

Listing Broker

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