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Gilbert, AZ - 76 Gas Station
777 W. Ray Raod | Gilbert, AZ 85233
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, newly-remodeled 76 Gas Station property located in Gilbert, 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. Fee simple ownership of a convenience store qualifies for bonus depreciation (see page 21 for details).
Location
The subject property is strategically located at the signalized, hard-corner intersection of W Ray Road and S Cooper Road, averaging a combined 57,000 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and several large monument signs. The property is ideally situated in a retail corridor with numerous national and regional tenants nearby, including Walmart Neighborhood Market, Safeway, EOS Fitness, Goodyear, Fry’s, Autozone, Walgreens, and 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 344,000 residents and 134,000 employees, providing a direct consumer base from which to draw. Residents within 1 mile of the subject property boast an affluent average household income of $136,361.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215