MAVERIK | ABSOLUTE NNN GROUND LEASE | +/- 19 YEARS REMAINING
Corporate Lease | Low Ground Rent | Large Site on Hard Corner | Regional Draw
Marketing description
Flanagan Investment Real Estate is pleased to offer for sale a single-tenant, absolute NNN ground lease Maverik in Clovis, NM. Maverik is operating under a 20-year initial term with just under 19 years remaining. The asset is located on US-60 which is a major thoroughfare connecting West Texas and New Mexico. The property is located near Cannon Air Force Base as well as other large employers.
The Tenant invested a significant amount of money into the site and constructed the improvements which contain a convenience store, fuel canopy, and dedicated truck lanes for high-flow diesel. It is a large site of about 3.17 acres on a hard corner.
Maverik is a strong, corporate tenant with more than 800 locations across 20 states. It is the largest independent fuel marketer in the Intermountain West. Maverik is operating under an absolute NNN ground lease with zero landlord responsibilities. The lease features 10% rent increases every five years.
This investment benefits from the new long-term lease, passive lease structure, and low ground rent. The tenant has made a significant investment into the site. The passive nature of the lease combined with the strong real estate fundamentals make this property an opportunity on which an investor can capitalize for the foreseeable future.
Investment highlights
Maverik - Absolute NNN Ground Lease
New 20-Year Lease
• Just under 19 years of term remaining
• Scheduled rental increases of 10% every 5 years
• (5) 5-year options to extend
Absolute NNN Ground Lease
• Zero landlord responsibilities
Low ground rent - $70,000
Excellent real estate fundamentals
• Large site on a hard corner
• Fronts on US-60
• Major thoroughfare connecting West Texas and New Mexico (truckers and commuters)
• Main thoroughfare through Clovis, NM
• Located near Cannon Air Force Base and other large employers
Strong, corporate tenant
• Largest independent fuel marketer in the Intermountain West
• More than 800 locations across 20 states
• Strong and loyal customer following
Significant investment into site by tenant
• Large convenience store
• Dedicated truck lanes (high-flow diesel)
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