Speedway Ground Lease, Charleston, West Virginia

524 Campbells Creek Drive no-imageVIEW MAP

Property Information

Price: $991,305
Cap Rate: 5.75%
NOI: $57,000
Lease Term: 10+ Years
Lease Type: Absolute NNN Ground Lease
Building Size: Approximately 2,923 Square Feet
Year Built: 1981
Status: Available
Lead Broker Information:

Dylan O’Hara

dylan@realcapitalinvestments.com

918-208-1565
Marketing Package

Property Description

Investment Highlights

  • Absolute NNN Ground Lease with 10+ Years Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Three (5-Year) Options to Renew
  • 10% Rental Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation – Recently Renewed Lease Shows the Tenant’s Long-Term Commitment to the Location
  • Corporately Guaranteed Lease by Speedway (7-Eleven, Inc.) – Speedway is a Best-in-Class Gas Station & C-Store Tenant Founded in 1952 That Operates Over 3,900 Locations in 36 States – Largest Brand Within Its Category for Company-Owned Chains Based on Revenue
  • 45 Year Successful Operating History at the Site – The Property Has Been a C-Store & Gas Station Since Opening in 1981 – 2,923 Square Feet Building Situated on a 0.285-Acre Parcel Containing 8 Parking Spaces & 6 Gas Pumps
  • Excellent Visibility – More Than 6,800 Combined Vehicles Per Day on Campbells Creek Dr & Clover Drive
  • Strong Demographics – Over 18,000 People within a 5-Mile Radius with Average Household Income Exceeding $112,000 Annually
  • Over 1.28 Million Square Feet of Restaurant & Retail Space and 456,000 Square Feet of Office & Industrial within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 870 Businesses & 12,600 Employees
  • Strong Multi-Family Density with Over 8,900 Apartment Units Located within a 5-Mile Radius of the Property