Listed by Landmark Commercial Real Estate Services
$2,333,333
Shell Oil
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 2,559
Cap Rate 6%
NOI $140,000
Occupancy 100%
Tenancy Single
Brand/Tenant Shell
Lease Type Absolute NNN
Remaining Term 12
Price per SqFt $912
Year Built 1991
Acreage 0.510
Long Term Shell Ground Lease
Investment highlights
LONG TERM OPERATING HISTORY:
Walters DimmickPetroleum (64 locations) has been operating at this location since 1991. In 2019, they signed a 10-year lease renewal with rent increases. In 2023, they further demonstrated their long-term commitment to the site by exercising their first five-year renewal option early, extending their lease through 10/31/2036.
GROUND LEASE:
Long term Investment comes with minimal landlord responsibilities.
EXCELLENT ACCESS & VISIBILITY:
The asset is highly visible from I-94 (62,747 CPD) and benefits from multiple points of access to Jackson Crossing, a 620,000 SF regional center and the adjacent Jackson West, a 209,800 SF power center. I-94 is the main thoroughfare between the Detroit area and Chicago.
Listing Contacts
Listed by Landmark Commercial Real Estate Services
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$140,000.00
$11,666.67/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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