Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
$2,867,000
Quik Mart - Corporate Guarantee
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 2,500
Cap Rate 6%
NOI $172,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 20
Lease Expiration 04/30/2043
Remaining Term 17
Rent Bumps Yes
Lease Options 4, 5 Year Options
Year Built 1982
Acreage 0.420
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/05/2023
Ground Lease No
Qualifies for 100% Bonus/Accelerated Depreciation
Marketing description
- Over 17 Years Remaining on Corporate Lease with Southwest Convenience SPE, LLC (Over 17 Units)
- 10 Percent Rental Increases Every Five Years with Multiple Renewal Options on Lease
- Tenant in Process of Making Additional Capital Improvements to Site (New Parking Lot)
- 348,014 Residents within a 10-Mile Radius - Dense Tucson Infill
- Highly Visible Location Along W Cortaro Farms Road with Over 18,000 Cars per Day
- Less than a Three Minute Drive from Omni Tucson National Resort, AAA Four Diamond Resort with Legendary Golf Courses, World-Class Spa, Lighted Tennis Courts, Sparkling Pools, and Award-Winning Service
- Immediate Connection to N Casa Grande Hwy 10 (Over 104,500 Cars per Day)
- Surrounded by Big Box Retailers: Walmart Supercenter, Bashas', Albertsons, Fry's, Target, Lowe's, Harbor Freight Tools, and Many More
Investment highlights
Quik Mart Stores, Inc. is a second-generation family business of 17 convenience Stores throughout Tucson and Pima County, Arizona. The Company is the largest independent convenience store retailer in the Tucson Metropolitan Statistical Area.
Tucson is the second largest metropolitan area in Arizona with just over one million residents and serves as an anchor to businesses located in the Southern Arizona corridor. Tucson offers its community an outstanding quality of life along with a low cost of doing business. Over the next five years, the metro is projected to add roughly 37,000 new residents.
Listing Contacts
Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$172,000.00
$14,333.33/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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