Listed by Marcus & Millichap - Fort Worth
$13,300,000
Ashley's Marketplace Portfolio | Business + Leasehold Only
Details
Property Type Retail, Business for Sale
Sub Type Convenience Store, Gas Station
Units 3
NOI $2,310,000
Tenancy Multi
Brand/Tenant Denny's, Church's Chicken
Lease Type NNN
Lease Expiration 02/04/2037
Remaining Term 11
Rent Bumps Yes
Lease Options 3 x 5
Class A
Year Built 2016
Buildings 3
Acreage 1.85 - 10
Investment Type Owner/User
Lease Commencement 02/03/2022
Ground Lease No
Owner-Operator Fuel & Food Portfolio | Prime Houston Locations
Marketing description
This is a business-only offering: the buyer acquires the three operating convenience businesses and their leasehold interests - the underlying real estate is owned by Realty Income (NYSE: O) and is not included in the $13,300,000 price. All three stores are held under a single long-term NNN master lease with Realty Income running through 2037, with three additional five-year options.
Investment highlights
- Immediate, diversified cash flow. Three established Shell-branded stores combining fuel, inside sales, foodservice and rental income from eight national brands plus a car wash.
- $2.31M EBITDA after rent. The three stores generate $2.31M of combined in-place EBITDA after all master-lease rent payments - net cash flow already in place at acquisition.
- Secure tenancy. A single long-term NNN master lease runs through 2037 with three additional five-year options, backed by Shell fuel supply agreements.
Listing Contacts
Listed by Marcus & Millichap - Fort Worth
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$2,310,000.00
$192,500.00/mo
Valuation Metrics
0
DSCR
17.37%
Cap Rate
17.37%
ROI
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