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DOM: 30 Updated: 01.17.24 Posted: 11.28.23 Status: Sold 12.28.23

Summary

Price $4,100,000 $4,102,000
Built/Renov 1993/2007
Tenant Roadrunner
Cap Rate 6.00% 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,476
Lease Start 05-01-2022
#Units 3,200
Price/SF $916.00 $916.44
Expiration 04-30-2037
Tenant Type Convenience/Gas
NOI $246,149
R. Term 11.12
Ownership Fee Simple
Rent/SF $54.99
Increases 10.0%/4/yrs
Pop 5Mi 64,375
Lot/AC 1.12
Options 0/0yrs
AHHI 5Mi $28,405

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 West Stone Drive, with access to 32.300 vehicles passing by daily. This location provides three separate points of access and boasts excellent visibility, further enhanced by its proximity to Interstate 26. In the immediate trade area, the property is surrounded by national tenants, including CVS, Wendy’s, Subway, KFC, Dairy Queen, Walmart Supercenter and...

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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 : 6,837 37,729 64,639
2023 Total Population : 6,621 37,499 64,375
2023 Employed Civilian Pop : 2,579 13,932 24,339
2023 Total Businesses : 384 1,815 2,422
2023 Average Household Income : $ 52,059 $ 63,407 $ 71,886
2023 Total Consumer Spending : $ 146 M $ 942 M $ 1796 M
2023 Median Age : 42 47 47
2023 Total Households : 3,154 16,854 28,405
2023 Pop Age 25+: Bachelor's Degree : 584 4,168 7,901
2023 Average Home Value : $ 219,028 $ 196,340 $ 213,180
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Clinchfield Street W Main St 2022 9,456 0.30 mi
West Stone Drive Teasel Dr 2022 30,217 0.39 mi
Old Gibson Mill Road Cassel Dr 2022 5,580 0.42 mi
W. RAVINE RD. Broad St 2021 2,309 0.51 mi
Broad St 2022 2,098 0.51 mi
W Stone Dr Sherman Pl 2003 32,250 0.59 mi
West Wanola Avenue Holston St 2022 318 0.61 mi
Arbutus Avenue Delrose St 2022 1,027 0.63 mi
Lovedale Drive Jackson Pl 2022 1,486 0.69 mi
East Stone Drive Waterman Rd 2022 30,101 0.74 mi

Listing Broker

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