Listed by Trinity Real Estate Investment Services, Bang Realty
$6,022,850
ExtraMile
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 3,600
Units 1
Cap Rate 6.5%
NOI $391,485
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 01/31/2045
Remaining Term 18.6
Rent Bumps Yes
Lease Options Four (4), 5-Year; 1.5% Annually
Price per SqFt $1,673
Year Built 2024
Buildings 1
Acreage 1.250
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/2025
Ground Lease No
Ownership Fee Simple
Retail | 6.50% CAP | 3,600 SF
Marketing description
Trinity Real Estate Investment Services is pleased to present the opportunity to acquire an ExtraMile in Montgomery, AL. The subject property has a 20-year absolute NNN lease and operator has been in business for 30+ years. It is available for bonus depreciation.
Property Website: https://trinityreis.com/listing/4303-s-court-st/
In Cooperation With Brian Brockman at Bang Realty-Alabama Inc | AL #119315 | [email protected] | (513) 898-1551
Investment highlights
- 20-Year Absolute NNN Lease With 18+ Years of Term Remaining
- 1.5% Annual Increases Throughout Primary Term and Option Periods
- Large 200+ Unit Operator Across 6 Southeastern States With Plans for Growth
- Operator Has Been in Business for 30+ Years
- 1.25 Acre Corner Lot Located Along HWY 80 Featuring 49,000+ Combined VPD With Points of Access From 2 Roads
- Montgomery is the State Capital of Alabama and Features a Population Near 200,000
- Booming Local Economy, Several New Businesses in Area, Meta Platform (715,000 SF Campus), Amazon to Build 650,000 SF Facility, Hyundai Motors ($290M Investment)
- Extra Mile has Over 1,100 Locations With Plans on Expanding to 2,000 by 2029
- Available for Bonus Depreciation
- Chevron Unveiled Extra Mile Convenience Stores in 2017 With Great Success
Listing Contacts
Listed by Trinity Real Estate Investment Services, Bang Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$391,485.00
$32,623.75/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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