Listed by Atlantic Capital Partners
$950,000
Quarles (GPM Empire Guarantee) | Kernersville, NC
Details
APN 6885-67-0458.00
Property Type Retail
Sub Type Gas Station, Storefront
Units 1
Cap Rate 6.35%
NOI $60,340
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 02/28/2034
Remaining Term 7.7
Rent Bumps Yes
Lease Options 2 x 5-year options
Class A
Year Built 1999
Acreage 1.480
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 03/01/2024
Ground Lease No
6.35% CAP | Bonus Depreciation
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.
ABSOLUTE NNN — ZERO LANDLORD RESPONSIBILITIES
- The tenant is responsible for all repairs, maintenance, roof, structure, and utilities — delivering a truly passive investment with no management obligations and no capital exposure for the landlord.
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.
MISSION-CRITICAL FLEET FUELING INFRASTRUCTURE
- Directly along the I-40 corridor between Winston-Salem and Greensboro. The site captures 86,500+ combined AADT from NC 66 S (30,000 AADT) and Salem Pkwy (56,500 AADT).
ESTABLISHED INFILL LOCATION WITH STRONG LOCAL ACCESS
- Positioned along Indeneer Drive with direct connectivity to NC-66 and immediate access to I-40, the site is embedded within an established commercial and industrial corridor serving Kernersville's growing logistics and distribution base.
GROWING TRIAD MARKET
- The site serves a 5-mile trade area with a population of 64,911 and average household income of $104,396 — reflecting an above-average income demographic and a commercially mature corridor with long-term fleet fueling demand.
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$60,340.00
$5,028.33/mo
Valuation Metrics
0
DSCR
6.35%
Cap Rate
6.35%
ROI
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