Available $3,417,170 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NNN LEASE STRUCTURE
Zero Landlord responsibilities for operating or capital expenses
- RENT INCREASES BETWEEN OPTIONS
Rent increases between each of the seven 5-year renewal options
- CORPORATE BACKED LEASE
Corporate guaranteed lease by QuikTrip Corporation, one of the nation’s largest privately held companies with annual revenues in excess of $11.4 billion
- POSITIONED AT SIGNALIZED INTERSECTION
Positioned at the signalized intersection of West Valencia Road and South Camino de la Tierra with combined daily traffic counts of over 37,600 vehicles per day
- DENSELY POPULATED AREA
Densely populated area with over 48,000 residents within a three mile radius and 125,000 residents within a five mile radius
THE SUBJECT PROPERTY IS A 4,514 SQUARE FOOT QUIKTRIP LOCATED IN TUCSON, ARIZONA. QUIKTRIP HAS LEASED THE PROPERTY FOR A 16 YEAR TERM WHICH COMMENCED IN 2012, LEAVING APPROXIMATELY SEVEN YEARS REMAINING ON THEIR INITIAL LEASE TERM. THERE ARE STRUCTURED RENT INCREASES BETWEEN EACH OF THE SEVEN 5-YEAR RENEWAL OPTIONS. THE LEASE IS ABSOLUTE NET PROVIDING FOR ZERO LANDLORD RESPONSIBILITIES.
QuikTrip is one of the nation’s leading convenience store operators, with approximately $11.4 billion in annual revenues which are generated from the over 850 locations they operate. These revenues place QuikTrip on the Forbes listing of largest privately held companies.
Located at the signalized intersection of West Valencia Road and S Camino de la Tierra, the property features excellent access and exposure along one of the area’s main traffic corridors with combined daily traffic counts in excess of 37,600 vehicles per day. QuikTrip is positioned one block west of Manzanita Plaza, an 116,000 square foot retail center anchored by Safeway, Family Dollar, Aaron Rents and more. Additionally, the property is situated approximately two and a half miles east on Valencia Road of Casino del Sol, an award winning casino and spa resort with conference center. This densely populated area is home to over 48,000 residents within a three mile radius and over 125,000 residents within a five mile radius.
- Price: $3,417,170
- Cap Rate: 6.15%
- Lease Term: 7 Years Remaining
- Building Size: 4,514 SF
- Lot Size: 1.68 Acres
- Status: Available