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Mesa, AZ - 76 Gas Station
6806 E Brown Rd | Mesa, AZ 85207
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, 76 Gas Station property located in Mesa, Arizona (Phoenix MSA). The tenant, LV Petroleum, LLC, has approximately 18 years of lease term remaining 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 1,700 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 20 for details).
Location
The subject property is strategically located at the signalized, hard-corner intersection of N. Power Road and E. Brown Road, which averages a combined 42,700 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large monument sign, and has multiple points of ingress/egress. Furthermore, the asset is ideally situated near a dense, regional retail corridor featuring numerous national/credit tenants including Target, Safeway, The Home Depot, Petsmart, Walgreens, Planet Fitness, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The property is located within close proximity to Red Mountain High School (3,460 students), as well as Fremont Junior High School (980+ students), and Salk Elementary School (540+ students), providing an immediate gas station/c-store option for families and staff. The 5-mile trade area is supported by over 223,800 residents and 66,000 employees with an affluent average household income of $110,863, providing a direct consumer base from which to draw.
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