Listed by Atlantic Capital Partners
$2,196,000
Quarles (GPM Empire Guarantee) | Rocky Mount, NC
Details
Property Type Retail
Sub Type Gas Station, Storefront
Cap Rate 6.35%
NOI $139,420
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 02/28/2034
Remaining Term 7.6
Rent Bumps Yes
Lease Options 2 x 5-year options
Class A
Year Built 1999
Acreage 0.960
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 03/01/2024
Ground Lease No
6.35% CAP (GPM Empire Guarantee) | Rocky Mount, NC
Investment highlights
INSTITUTIONAL-GRADE CREDIT BACKING
- The subject property is leased to GPM Empire LLC (d/b/a Quarles), a wholly owned subsidiary of ARKO Corp. (Nasdaq: ARKO) — one of the top five convenience store operators in the United States. ARKO operates approximately 3,000 locations across 33 states, generates over $8 billion in annual revenue, and maintains publicly audited financials.
PROVEN 25+ YEAR OPERATING HISTORY AT THIS SITE
- Quarles has continuously operated this fleet fueling location since 1999, demonstrating strong site-level performance and customer stickiness in a commercial corridor with 30,000+ vehicles per day on US-301.
RECESSION-RESILIENT, ESSENTIAL-USE ASSET CLASS
- Fleet fueling is a non-discretionary expense for commercial operators. Quarles' 150+ site cardlock network serves industries that require diesel regardless of economic conditions.
STRATEGIC LOCATION WITHIN DENSE INDUSTRIAL & LOGISTICS CORRIDOR
- Proximity to major employers including a Honeywell Aerospace facility, the CSX Carolina Connector intermodal terminal, and a 600,000 SF regional mall generating consistent commercial traffic.
FOUR 5-YEAR RENEWAL OPTIONS PROVIDING UP TO 20 YEARS OF ADDITIONAL TERM
- Beyond the current lease expiration in 2034, the tenant holds four consecutive 5-year options.
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$139,420.00
$11,618.33/mo
Valuation Metrics
0
DSCR
6.35%
Cap Rate
6.35%
ROI
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