RaceTrac | 7+yrs Remain Corp Abs NNN | 8454 New Wilkinsville Rd
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RaceTrac | 7+yrs Remain Corp Abs NNN 8454 New Wilkinsville Rd
4,005 SF Retail Building Millington, TN 38053 $3,194,000 ($798/SF) 5.25% Cap Rate
Investment Highlights
- Corporate Guaranteed | 7+ Years Remaining | Scheduled Rental Increases | Options to Extend
- Signalized, Hard Corner Intersection | Primary Thoroughfare | Nearby Shopping Centers | Excellent Visibility & Access
- Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
- Accelerated Depreciation | No Income Tax State
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, RaceWay investment property located in Millington, TN. The tenant, RaceTrac Petroleum, Inc has 7+ years remaining on their 15 year lease with 7 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.50% 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 an out of state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,005 SF
Building Class
B
Year Built/Renovated
2000/2005
Price
$3,194,000
Price Per SF
$798
Cap Rate
5.25%
NOI
$167,700
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.24 AC
Opportunity Zone
Yes
Zoning
B-2
Parking
20 Spaces (4.99 Spaces per 1,000 SF Leased)
Frontage
90 FT on Wilkinsville
Amenities
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Raceway
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Raceway | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | M0-115-0-0878 | Improvements Assessment | $331,280 |
| Land Assessment | $330,720 | Total Assessment | $662,000 |
PROPERTY TAXES
Parcel Number
M0-115-0-0878
Land Assessment
$330,720
Improvements Assessment
$331,280
Total Assessment
$662,000
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RaceTrac | 7+yrs Remain Corp Abs NNN | 8454 New Wilkinsville Rd
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