Offering Memorandum
Property Highlights
- PORTFOLIO SALE LEASEBACK OF SIX (6) FUEL & CONVENIENCE KIOSK RETAIL PROPERTIES LOCATED IN MINNESOTA
- ALL OF THE PROPERTIES ARE OUTPARCELS TO WALMART SUPERCENTERS AND SITUATED ON MAJOR THOROUGHFARES
- PREVIOUSLY OPERATED AS MURPHY USA STATIONS, THE STORES HAVE AN ESTABLISHED TRACK RECORD OF PROFITABILITY
- TENANT RECENTLY ACQUIRED THE LOCATIONS AND IS CONVERTING TO BP To Go GAS STATIONS
- AT CLOSING, BP WILL ENTER INTO AN ABSOLUTE TRIPLE-NET (NNN) MASTER LEASE WITH PURCHASER
- 15-YEAR PRIMARY TERM WITH 10% RENT INCREASES EVERY 5 YEARS AND FOUR (4) FIVE-YEAR OPTIONS TO RENEW
- Price: $7,858,000
- Lot Size: .75
- Cap Rate: 7.00%
- Lease Type: Absolute Triple Net (NNN)
- Year Built: 2016
- Building SF: 1,200
- Status: Sold
- Guarantor: Franchisee