Kernersville, 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 Kernersville, 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 S Park Drive and State Highway 66 with a combined 29,200 vehicles passsing by daily. State Highway 66 is the major retail thoroughfare serving the city of Kernersville. The Quarles Fueling is located in between Interstate 40 and US Highway 421 which combine to average over 121,700 VPD. The asset is located in the center of a primary distribution corridor featuring national/credit tenants such as Fedex, Amazon, Old Dominion, Ashley Furniture, ABF Freight, and many others. Additionally, the property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Target, Food Lion, Harris Teeter, Dollar Tree, Chick-fil-A, McDonald’s, Petco, Crumbl, Planet Fitness and more, fur ther increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 65,300 residents and 29,400 employees with an average household income of $107,646.