Listed by Secure Net Lease
$2,341,463
Murphy USA
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 2,824
Cap Rate 5.13%
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Term 20
Lease Expiration 12/01/2043
Remaining Term 17.5
Rent Bumps Yes
Lease Options (4) 5-Year Renewal Options
Price per SqFt $829
Year Built 2024
Buildings 1
Stories 1
Acreage 1.100
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/01/2023
Ground Lease Yes
5.125% CAP | Prime Hard-Corner Location (163,000+ VPD Combined)
Marketing description
- Brand New 20 Year Absolute NNN Ground Lease With 8% Rent Bumps Every 5 Years and (4), Five Year Options
- Prime Hard-Corner Location with Exceptional Visibility & Access – Positioned along N Big Spring St (22,000+ VPD) connecting I-20 (55,000+ VPD) and Loop 250 (86,000+ VPD), providing strong regional connectivity and high daily traffic counts.
- Dense Retail Corridor with National Tenants – Surrounded by established retailers including Whataburger, Walgreens, CVS, Dollar Tree, Family Dollar, O’Reilly, and Popeyes, reinforcing the corridor as a primary shopping destination.
- Strong Daytime Population from Healthcare & Education Anchors – Located near Midland Memorial Hospital (261 beds) and Midland College (7,000+ students), generating consistent daily traffic from employees, students, and visitors.
- High-Income Trade Area with Strong Demographics – The site benefits from 1-mile population of ~12,000 and average household incomes exceeding $110,000, with a 5-mile population of 130,000+ and incomes over $124,000, supporting strong fuel and convenience demand.
- Midland, TX: Top-Tier Growth Market in the Permian Basin – Midland has been ranked among the fastest-growing mid-sized cities in the U.S., driven by oil & gas production, strong job growth, and significant GDP expansion.
- Murphy USA (NYSE: MUSA) | Fortune 500 | BB+ Credit | $4.28B Revenue — Murphy USA is a leading national retailer of gasoline and convenience merchandise operating approximately 1,800 locations across 27 states, servicing an estimated 2 million customers per day.
Investment highlights
- Brand New 20 Year Absolute NNN Ground Lease With 8% Rent Bumps Every 5 Years and (4), Five Year Options
- Prime Hard-Corner Location (163,000+ VPD Combined) | N Big Spring St (22,000+ VPD) | Direct Access to I-20 & Loop 250
- Strong Daytime Demand from Healthcare & Education | Midland Memorial Hospital (261 Beds) | Midland College (7,000+ Students)
- High-Income Trade Area with Strong Demographics | ~12,000 Population (1-Mile) | $110K+ Avg. HH Income | 130,000+ Population (5-Mile)
- Midland, TX – Top Permian Basin Growth Market | Strong Job Growth | Oil & Gas Driven Economy | Rapid GDP Expansion
Listing Contacts
Listed by Secure Net Lease
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Zoning
LR CommercialRetail CommercialLocal Retail District
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