Rocky Mount, NC - Quarles Fueling

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Quarles Fueling investment property located in Rocky Mount, North Carolina. The tenant, GPM Empire LLC recently signed a brand new 10 year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Quarles Fueling is located near the signalized, hard corner intersection of US Highway 301 Bus. and State Highway 97 which combine to average 20,800 vehicles passing by daily. US Highway 301 Bus. is a major retail thoroughfare serving the city of Rocky Mount. The Quarles Fueling is located in a regional distribution hub featuring tenants such as Acme, Pfizer, and many others. The asset is in close proximity to Golden East Crossing, with national/credit tenants including Ross, JCPenney, Belk, Buffalo Wild Wings, Olive Garden, and Applebee’s. The property is less than 2 miles from a Walmart Supercenter anchored center that features national/credit tenants such as Five Below, pOpshelf, Planet Fitness, Chick-fil-A, Taco Bell, and many others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Target, Sam’s Club, Lowe’s, Tractor Supply Co, ALDI, Chipotle and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 51,100 residents and 32,300 employees with an average household income of $69,386.