Listed by Northmarq Capital, LLC
$23,221,621
TravelCenters of America (LV Petroleum)
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 10,119
Cap Rate 7.75%
NOI $1,718,400
Brand/Tenant LV Petroleum
Lease Type Absolute NNN
Lease Term 20
Remaining Term 16
Lease Options Four (4), 10-Year Options
Price per SqFt $2,295
Year Built 2015
Acreage 7.000
Ground Lease No
Ownership Fee Simple
TravelCenters of America (LV Petroleum) | 3% Annual Rent Increases | 7.75% Cap Rate
Marketing description
Northmarq is pleased to present this 10,119 SF Travel Center in Holstein, IA.
Investment highlights
Experienced and Growing Operator
- The Tenant, LV Petroleum, operates over 77 TA Travel Centers, 30 gas stations, and is a franchisee of over 30 national food concepts, including Starbucks, Dunkin', Bojangles, Arby’s, Denny’s and more.
Long-Term, Abs. NNN Lease
- The investment has 16 years remaining on its original 20-Year Absolute NNN Lease, along with Four, 10-Year Options – providing investors with long-term passive cash flow.
Bonus Depreciation
- Thanks to the OBBB (One, Big, Beautiful Bill) which made certain provisions of the TCJA (Tax Cuts and Jobs Act) permanent, this site qualifies for Bonus Depreciation, allowing investors to take 100% Depreciation in Year 1.
TravelCenters of America (TA) Network
- The Tenant is the 4th largest Travel Center Operator in the Country, and is the largest franchisee of TA, which is part of the “Big 3” in Travel Centers, along with Pilot Flying J and Love’s. TA is a wholly owned subsidiary of British Petroleum (NYSE: BP) and its robust network and fleet benefits drive tremendous truck traffic to their locations.
Strong Site Level Performance and Guaranty
- Site-level along with audited guarantor financials are available for review. Please contact Broker for more details.
Multiple Food Offerings
- In addition to the traditional convenience store, this site also features a Dunkin' Donuts, and Hardee’s which helps to drive auto traffic to the site. Both food concepts are also operated by the Tenant.
Listing Contacts
Listed by Northmarq Capital, LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,718,400.00
$143,200.00/mo
Valuation Metrics
0
DSCR
7.4%
Cap Rate
7.4%
ROI
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