Property details
Leaseback, Southwest Region
Property Description
• $1,625,000 is the average price per facility. There are a few remaining - please inquire!
• Leaseback portfolio with rental increases built in
• Seller will guaranty these leaseback properties
• These leaseback properties can be sold as a Leaseback Portfolio or individually
• Owner financing may be available to qualified individuals or ownership entities
LEASEBACK PORTFOLIO OF THIRTEEN NET LEASED CONVENIENCE STORE AND TRUCK STOP PROPERTIES
13 Convenience stores and truck stops with individual sale leaseback leases. Fee simple interest in the land and improvements (Excluding fuel pumps, tanks and associated personal property).
LEASEBACK TENANT: Operating 58 convenience stores and truck stops with Annual Revenue of $400+ million that traces its roots back to 1923. It operates in the southern Appalachian regions of TN, VA, KY, WV and NC.
Parent company is a high growth, diversified holding company with a diversified portfolio of companies engaged in telecommunications, consumer products, advanced technology and energy.
LEASEBACK SUMMARY: NNN (All expenses pertaining to the premises of any kind including maintenance and repair are responsibility of Tenant).
Terms of sale leaseback leases are Twenty (20) years, with 4/5 Year Options, commencement September 17, 2007 - expiration September 30, 2027 with scheduled fixed increases
LEASEBACK RENT/OPTION SCHECULE
Years (1-5) $ 1,650,000
(6-10) 1,815,000
(11-15) 1,996,500
(16-20) 2,196,650
(21-25) $ 2,415,765
OPTIONS
(26-30) 2,657,342
(31-35) 2,923,076
(36-40) 3,215,383
Tenant financials vailable upon request to qualified buying entity and execution of Confidentiality/Non-Disclosure Agreement
Brands used at stations: BP, CITGO, APPCO, and Marathon Oil
Images
Highlights
- Status:
- Available
- Price:
- $1,625,000
- PSF:
- $361
- Cap Rate:
- 8.00%
- Annual Rent:
- $0
- Rent Increases:
- Every 5 years
Property Information
- Building Size:
- 4,500 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Convenience Store - Gas
- Units/Spaces:
- 13
- Year Built:
- 1990
- Land Area:
- 3.00 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Appcoa
- Lease Type:
- NNN
- Lease Commencement:
- 9/17/2007
- Lease Expiration:
- 9/30/2027
- Lease Term:
- 20 years
- Years Remaining:
- 19 years
- Landlord Responsibilities:
- All leaseback expenses pertaining to the premises of any kind including maintenance and repair are responsibility of Tenant
- Options:
- 4/5 Year Leaseback Options,
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.