Speedway, Winterville, North Carolina

4985 Old Tar Road no-imageVIEW MAP

Property Information

Price: $1,573,418

Cap Rate: 5.50%
NOI: $86,538
Lease Term: 12.5 Years
Lease Type: Absolute NNN Lease
Building Size: Approximately 1,795 Square Feet
Status: Available
Lead Broker Information:

Dylan O’Hara



Property Description

Investment Highlights

  • 12 Year Absolute NNN Lease with 11.5+ Years Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Two (5-Year) Options to Renew
  • Rare Uncapped Rental Increases Based on the Current CPI% During Each Option Period, 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
  • Successful Operating History at the Site – 1,795 Square Feet C-Store Situated on a Large 1.292-Acre Parcel Containing 9 Parking Spaces & 6 Gas Pumps
  • High Traffic Location with Excellent Hard-Corner Visibility – More Than 5,300 Vehicles Per Day on Old Tar Road & 4,900 Vehicles Per Day on Worthington Road
  • Excellent Demographics – More Than 75,000 People in a 5-Mile Radius with Average Household Income Exceeding $125,000 within a 1-Mile Radius of the Property
  • High Daytime Population of More Than 3,400 Businesses & 27,500 Employees
  • Situated Near a Food Lion Grocery Store That Has Seen Over 546,000 Visits During the Last Calendar Year
  • Strategically Positioned Adjacent to Christ Covenant School with More Than 370 Students Currently Enrolled
  • Strong Multi-Family Density with Over 12,000 Apartment Units Located within a 5-Mile Radius of the Property