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29331499
29331500

4300 Nine Mile Rd, Richmond, VA 23231

BH
Lic #: 0225247494
Marcus & Millichap - Washington, D.C.
Listed by Marcus & Millichap - Washington, D.C.
$1,121,143
136 days on market
Updated 15 days ago

CITGO C-STORE & GAS (NASDAQ: ARKO) | ABSOLUTE NET LEASE

Details
Property Type Retail
Sub Type Convenience Store, Gas Station (+1)
Square Footage 1,425
Cap Rate 7%
NOI $78,480
Tenancy Single
Brand/Tenant 7-Eleven, 76 Gas (+4)
Lease Type Absolute NNN
Lease Expiration 02/25/2031
Remaining Term 4.7
Rent Bumps Yes
Price per SqFt $787
Class A
Year Built 1990
Acreage 1.830
Investment Type Net Lease
Tenant Credit Corporate Guarantee

Retail | 7.00% CAP | 1,425 SqFt

Marketing description

PLEASE VISIT THE PROPERTY WEBSITE TO DOWNLOAD FULL MARKETING PACKAGE:

https://themansourgroup.com/properties/310445/citgo-c-store-gas

Investment highlights

  • Corporate Backed Absolute Net Lease (Zero Landlord Obligations) Featuring 9% Rental Increases at Each Option. Strong Commitment to the Location - Tenant Exercised and Extended the Term.

  • Positioned Along Area’s Retail & Traffic Corridor: Features Easy Access and Excellent Visibility to Daily Traffic Counts Exceeding 25k Vehicles. In Close Proximity to Interstate-64 (80k+ VPD).

  • Significant Tax Benefits - Subject Property Qualifies for Tax Savings via Accelerated Depreciation and Cost Segregation. 35+ Year Historical Occupancy as a Gas Station.

  • Along Nine Mile Road - a Vital Corridor Connecting Eastern Richmond Neighborhoods to Downtown. It serves as a Primary Artery for Commuters, linking Residential Areas to the City's Economic and Cultural Hubs.

  • ARKO Corp. (Nasdaq: ARKO), a Fortune 500 Company, is a Leading U.S. Convenience Store Operator and Fuel Wholesaler, running 1,550 Stores and supplying fuel to over 1,800 Dealer Sites via GPM Investments, LLC.

  • Densely Populated Area: Features more than 191k People Residing within a 5-Mile Radius. Richmond has Experienced Notable Population Growth in Recent Years, Reflecting its Increasing Appeal as a Place to Live and Work.

  • The Site Benefits from its Close Proximity to Downtown Richmond - Home to a Variety of Museums, Theaters, Music Venues, and Restaurants, Providing Residents and Visitors with a Wide Range of Activities to Enjoy.

  • About a Mile From White Oak Village - a Sprawling Outdoor Shopping Center Anchored by Lowe's, Target, Petsmart and multiple other Big-Box Tenants, Chain Restaurants & a Hotel.

Listing Contacts

BH
Lic #: 0225247494
Marcus & Millichap - Washington, D.C.
Listed by Marcus & Millichap - Washington, D.C.

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$78,480.00
$6,540.00/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Brian Hosey
License
0225247494
Brokerage Phone
201.742.6100
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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