Chandler, AZ - 76 Gas Station

Description:

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding 76 Gas Station property located in Chandler, Arizona (Phoenix MSA). The tenant, LV Petroleum, LLC, recently signed a brand new 20-year lease with 4 (20-year) options to extend, demonstrating their commitment to the site. The lease features annual 3% rental increases throughout the initial term, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. 76 Gas Station is a well-known and established gas station chain with over 2,000 locations across the country. LV Petroleum, LLC is an experienced developer and operator of convenience stores and gas stations in Nevada and Arizona. Fee simple ownership of a convenience store qualifies for bonus depreciation (see page 16 for details).
Potential financing available (see Page 17).

The subject property is strategically located at the signalized, hard-corner intersection of N. Power Road and E. Brown Road, which averages a combined 47,600 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and two monument signs, and has multiple points of ingress/egress. The asset is ideally situated in a local retail corridor shared with well-known and established tenants including Walmart Neighborhood Market, Walgreens, Goodwill, and Burger King. Other national/credit and regional retail tenants nearby include Walmart Supercenter, Target, The Home Depot,Ross Dress for Less, T.J. Maxx, Fry’s, Petsmart, Staples, Hobby Lobby, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 334,000 residents and 42,000 employees with an affluent average household income of $125,495, providing a direct consumer base from which to draw.