393 W Mills St - Service Station FOR SALE


Columbus, NC 28722
$2,177,000 USD
954-302-7365
393 W Mills St, Columbus, NC for Sale
$2,177,000 USD
Service Station - FOR SALE
1/9
null | 6% Cap Rate

393 W Mills St
Columbus, NC 28722


HIGHLIGHTS

  • 12 Years Remaining | GPM Investments | 10% Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Ideally positioned off I-26 (44,000 VPD), providing users with direct on/off ramp access
  • $90,173 average household income

OVERVIEW

• There are 12 years remaining on this original 15-year lease with 4 (5-year) options to extend • The lease is signed by GPM Investments dba Roadrunner, the nation’s sixth-largest convenience store chain, boasting an expansive network of approximately 3,200 locations. This network is comprised of diverse components, including around 1,400 company-operated stores, roughly 121 proprietary cardlock locations, and an additional 1,660 dealer sites, all of which are supplied with fuel • There are 10% rental increases every 5 years throughout the initial term and during options, steadily growing the NOI while providing a proper hedge against inflation • Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises • No landlord responsibilities • Ideal, management-free investment for a passive investor • The site is strategically fronting W Mills St averaging 13,000 VPD • Ideally positioned off I-26 (44,000 VPD), providing users with direct on/off ramp access • Surrounding retailers in the trade area include Food Lion, Family Dollar, McDonald’s, Wendy’s, and more • The asset has excellent visibility and access • More than 11,000 residents and 5,000 employees support the trade area • $90,173 average household income

FOR SALE DETAILS

PRICE

$2,177,000 USD

PRICE/SF

$417 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

GPM Investments (dba Roadrunner)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

C

APN/PARCEL ID

P60-33

ASK ABOUT THIS PROPERTY

Patrick NuttSRS Real Estate PartnersMore Info
954-302-7365

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Patrick NuttSRS Real Estate PartnersMore Info
954-302-7365

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.