Murphy USA | 20-Year Ground Lease

Retail-Commercial for Sale
Catylist Listing ID: 30699583
Property Subtypes: Convenience Store, Free-Standing Building, Service Station/Gas Station, Street Retail, Vehicle Related
Building Status: Under Construction
Building Size (RSF): 2,824 SF
Gross Building Area: See Agent
Gross Land Area: 0.90 Acres
Sale Price: $1,800,000
Unit Price: $637.39 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Murphy USA
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Last Updated: 6/8/2021

Overview / Comments

Single-Tenant NNN Ground Lease - Murphy USA
New 20-year ground lease
- Rent Commencement - March 22, 2021
- Zero landlord responsibilities
- Significant capital investment by Tenant
Strong credit tenant (Murphy Oil USA, Inc.)
- BB+ credit rating
- Traded on the NYSE (MUSA)
- Operates more than 1,400+ locations
Building Size: +/- 2,824 SF
Land Size: +/- 0.9 Acres
Attractive 8% rental increases every 5 years (base term and options)
Strong real estate fundamentals
- Hard corner, signalized intersection
- Neighboring tenants include Sonic, Champion Xpress Car Wash and Circle K among many others
- This location sells alcohol (high barrier to entry and very desirable)
Significant traffic counts with excellent visibility
- Alameda Blvd (Hwy 528) is a river crossing (connects the east and west sides of the City)
- Over 40,000 cars per day at the intersection of Alameda Blvd. and 2nd St.
Bonus/Additional Income
- Twice the Ice has an ice machine on the site and pays $622/month ($7,464.00/yr) which is not included in the NOI

Financials

Finance Data Year 2021
Net Operating Income $90,000 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: North Valley
Tax ID/APN: 101606520900130550

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,994 57,755 224,303
Median Age: 41.63 41.12 40.25
Households: 1,986 24,956 94,136
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