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Updated: 07.08.24 Posted: 11.29.23 Status: Sold

Summary

Price $2,400,000
Built/Renov 2024
Tenant Murphy USA (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,842
Lease Start 12-01-2023
#Units 1,733
Price/SF $844.48
Expiration 12-01-2043
Tenant Type Convenience/Gas
NOI $120,000
R. Term 18.6
Ownership Ground Lease
Rent/SF $42.22
Increases 8.0%/5/yrs
Pop 5Mi 128,086
Lot/AC 1.10
Options 4/5yrs/8%
AHHI 5Mi $134,208

Lease Highlights

  • Tenant executing a brand-new 20-year lease in December 2023 with 4 (5-year) options to extend
  • Lease features an increase of 8% every 5 years throughout the initial term & at beginning of each option
  • Absolute NNN ground lease | Zero landlord responsibilities
  • Corporate guarantee by Murphy Oil USA (NYSE: MUSA)

Location Description

Murphy USA is conveniently located at the signalized intersection of N. Big Spring St. and Scharbauer Rd. which see a combined 29,089 vehicles passing by daily. N. Big Spring St. is a major thoroughfare connecting I-20 (41,892+ VPD) & I-250 (27,468+ VPD). This is a dense retail corridor with neighboring tenants including Whataburger, Dollar Tree, O'Reilly, Family Dollar, Walgreens, CVS, and...

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Maps

  • 1 Mile
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  • 5 Miles

Tenant

About Tenant

Murphy USA Inc. (NYSE: MUSA) is an American corporation operating a chain of retail gas stations across the Southwest, Southeast, Midwest, and Northeast United States. Murphy USA, Inc. locations...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,938 67,822 135,436
2023 Total Population : 11,723 65,435 130,469
2023 Employed Civilian Pop : 6,042 34,566 70,975
2023 Total Businesses : 630 3,786 5,684
2023 Average Household Income : $ 96,453 $ 106,221 $ 109,339
2023 Total Consumer Spending : $ 373 M $ 2212 M $ 4555 M
2023 Median Age : 35 36 36
2023 Total Households : 4,397 23,919 47,911
2023 Pop Age 25+: Bachelor's Degree : 1,252 10,219 20,253
2023 Average Home Value : $ 295,516 $ 294,766 $ 300,826
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Scharbauer Drive N Big Spring St 2021 5,971 0.04 mi
West Scharbauer Drive Loma Dr 2020 5,060 0.04 mi
N Big Spring St Alta Ave 2012 22,250 0.06 mi
N Big Spring St W Humble Ave 2012 21,290 0.11 mi
Neely Ave Loma Dr 2015 3,460 0.12 mi
N Big Spring St Neely Ave 2015 27,879 0.14 mi
W Oak Ave N Big Spring St 2012 1,650 0.18 mi
N Main St E Scharbauer Dr 2015 3,390 0.19 mi
W Pine Ave Loma Dr 2012 260 0.28 mi
W Golf Course Rd N Big Spring St 2015 4,195 0.40 mi

Listing Broker

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