8454 New Wilkinsville Rd - Convenience Store FOR SALE


Millington, TN 38053
$3,194,000 USD
480-221-4221
8454 New Wilkinsville Rd, Millington, TN for Sale
$3,194,000 USD
Convenience Store - FOR SALE
1/8
null | 5.25% Cap Rate

8454 New Wilkinsville Rd
Millington, TN 38053


HIGHLIGHTS

  • Corporate Guaranteed | 7+ Years Remaining | Scheduled Rental Increases | Options to Extend
  • Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
  • Signalized, Hard Corner Intersection | Primary Thoroughfare | Nearby Shopping Centers | Excellent Visibility & Access
  • Accelerated Depreciation | No Income Tax State

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, RaceWay investment property located in Millington, TN. The tenant, RaceTrac Petroleum, Inc has 7+ years remaining on their 15 year lease with 7 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.50% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

FOR SALE DETAILS

PRICE

$3,194,000 USD

PRICE/SF

$345 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

RaceTrac | 7+yrs Remain Corp Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,014 SF

ZONING

B-2

APN/PARCEL ID

M0-115-0-0878

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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