Listed by The Boulder Group - Denver, The Boulder Group
$2,475,000
Murphy USA
Details
APN 0617400200000
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 2,824
Net Rentable (SqFt) 2,824
Units 1
Cap Rate 4.85%
NOI $120,000
Tenancy Single
Brand/Tenant Murphy USA
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 04/30/2046
Remaining Term 19.8
Rent Bumps Yes
Lease Options Four 5-Year
Price per SqFt $876
Broker Co-Op True
Year Built 2026
Buildings 1
Stories 1
Acreage 1.020
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 04/13/2026
Ground Lease Yes
Murphy USA | Denver, CO | 20-Yr Ground Lease | Extreme Barriers to Entry | Low Rent
Investment highlights
- Low Rent Ground Lease Priced Below Replacement Cost
- Long-term ground lease with 20 years remaining
- 8% rental increases every five years in primary term & renewal options
- Low ground rent and price point that is well-below replacement cost
- Brand-new construction property scheduled to open in October 2026
- Tenant is paying rent as it commenced on 4/13/2026
- Corporate lease to Murphy Oil USA, Inc. (S&P: BB+)
- Absolute triple net ground lease with zero landlord responsibilities
- Murphy USA is a leading convenience store operator with 1,800+ locations
- Murphy USA is publicly traded (NYSE: MUSA) with a market capitalization of $11 Billion
- Densely populated area with 20,000+ people in 1-mile and 540,000 people within 5-miles
- Infill location with extreme barriers to entry due to urban density and Denver’s recently passed ordinance limiting new gas station development
- Denver now bans new gas stations from being developed within ¼ mile of an existing gas stations, ¼ mile of a light rail station, and within 300 ft of low-density residential zoning adopting one of the nation’s most restrictive zoning ordinances in the U.S.
- Just off the major signalized intersection of Leetsdale Drive and Quebec Street with 73,000 VPD
- Affluent surrounding area with average annual household income of $136,000 within 5-miles
- Positioned 3 miles east of Cherry Creek, Denver’s premier upscale district with approximately 3.8M SF of office, 2.1M SF of retail, 6,300 residential units, and 15M+/- annual visitors Outparcel to a grocery-anchored shopping center that’s 111,000 SF and includes Save A Lot, O’Reilly Auto Parts, Taco Bell, and Burger King
- Positioned approximately 6 miles southeast of Downtown Denver
Listing Contacts
Listed by The Boulder Group - Denver, The Boulder Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$120,000.00
$10,000.00/mo
Valuation Metrics
0
DSCR
4.85%
Cap Rate
4.85%
ROI
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