Speedway, Whiteville, North Carolina

207 N. JK Powell Blvd

Property Information

Price: $1,124,027

Cap Rate: 7.25%
NOI: $81,492
Lease Term: 20 Years
Lease Type: NNN
Building Size: Approximately 1,860 Square Feet
Year Built: 2001
Status: Available
Lead Broker Information:

Dylan O’Hara



Property Description

Investment Highlights

  • 20 Year Absolute NNN Lease with 1 Year Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Two (5-Year) Options to Renew
  • Rental Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • 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
  • 23 Year Successful Operating History at the Site – The Property Has Been a C-Store & Gas Station Since Opening in 2001 – 1,860 Square Feet Building Situated on a 1.0-Acre Parcel Containing 13 Parking Spaces & 8 Gas Pumps
  • High Traffic Location with Excellent Visibility – More Than 25,000 Vehicles Per Day on North JK Powell Blvd (US-701 ALT)
  • Strong Demographics – More Than 11,900 People within a 5-Mile Radius of the Property with Average Household Income Exceeding $75,000 Annually
  • Over 7.2 Million Square Feet of Industrial & Office Space and 2.5 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 790 Businesses & 7,900 Employees
  • Strategically Positioned Adjacent to Whiteville High School & Central Middle School with More Than 1,100 Combined Students Currently Enrolled
  • Approximately 1.4 Miles from the 154-Bed Columbus Regional Healthcare System Hospital with Over $389 Million in Total Patient Revenue in 2023 and a Staff of More Than 2,000 Healthcare Professionals
  • Approximately 5-Miles from Southeastern Community College with Over 1,200 Students Enrolled & More Than 100 Faculty Members