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Views: 124 DOM: 191 Updated: 09.10.24 Posted: 05.04.24 Status: Active

Summary

Price $3,540,000
Built/Renov 2023
Tenant Murphy Express (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,824
Lease Start 06-01-2023
#Units 1,733
Price/SF $1,253.54
Expiration 05-31-2043
Tenant Type Convenience/Gas
NOI $177,000
R. Term 18.6
Ownership Ground Lease
Rent/SF $62.68
Increases 8.0%/4/yrs
Pop 5Mi 330,279
Lot/AC 0.97
Options 4/5yrs/8%
AHHI 5Mi $71,104

Lease Highlights

  • Brand new 2023 construction
  • Murphy Express has 18+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Murphy Express is strategically located at the signaled, hard-corner intersection of NW South River Drive and NW 116th Way, with access to 68,500 vehicles passing by daily. The property is surrounded by well-known national tenants including Wawa, Denny’s, Exxon, Walmart, Subway, and more. The 5-mile trade area is supported by a robust population of 330,279 residents with an average household...

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Maps

  • 1 Mile
  • 3 Miles
  • 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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Listing Broker

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