Speedway, Winterville, North Carolina

4985 Old Tar Road no-imageVIEW MAP

Property Information

Price: $1,949,446
Cap Rate: 5.50%
NOI: $107,219.52
Lease Term: 10 Years Remaining
Lease Type: Absolute NNN Lease
Building Size: Approximately 1,795 Square Feet
Year Built: 1997
Status: Available
Lead Broker Information:

Dylan O’Hara

dylan@realcapitalinvestments.com

918-208-1565
Marketing Package

Property Description

Investment Highlights

  • Absolute NNN Lease with 10 Years Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Two (5-Year) Options to Renew
  • Rare, Uncapped CPI Rental Increases Every 5 Years During the Initial Term and in Each Option Period, Providing an Unprecedented Hedge Against Inflation
  • Corporately Guaranteed Lease by Speedway, a Best-in-Class Gas Station & C-Store Chain 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 27+ Year Operating History at the Site – Formerly Operated as a Wilco Hess Prior to Being Acquired by Speedway in 2014 – Long Term Commitment to Site with 20 Year Lease Extension in 2015
  • Intrinsic Value – Large 1.29-Acre Parcel with 9 MPD’s (18 Fueling Pumps) and 1 High Flow Diesel Pump
  • High Traffic Location with Excellent Hard-Corner Visibility – More Than 13,000 Vehicles Per Day on Old Tar Road & Over 10,000 Vehicles Per Day on Worthington Road
  • Excellent Demographics – More Than 82,000 People in a 5-Mile Radius with Average Household Income Exceeding $105,000 within a 3-Mile Radius of the Property
  • High Daytime Population of More Than 3,600 Businesses & 28,500 Employees within a 5-Mile Radius of the Property
  • Situated Near a Food Lion Grocery Store That Has Seen Over 546,000 Visits During the Last Calendar Year
  • Strong Multi-Family Density with Over 12,000 Apartment Units Located within a 5-Mile Radius of the Property