GPM Investments (dba Roadrunner) | 393 W Mills St
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GPM Investments (dba Roadrunner) 393 W Mills St
5,223 SF Retail Building Columbus, NC 28722 $3,149,030 CAD ($603 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 12 Years Remaining | GPM Investments | 10% Rental Increases
- Ideally positioned off I-26 (44,000 VPD), providing users with direct on/off ramp access
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- $90,173 average household income
EXECUTIVE SUMMARY
• There are 12 years remaining on this original 15-year lease with 4 (5-year) options to extend
• The lease is signed by GPM Investments dba Roadrunner, the nation’s
sixth-largest convenience store chain, boasting an expansive network
of approximately 3,200 locations. This network is comprised of diverse components, including around 1,400 company-operated stores, roughly 121 proprietary cardlock locations, and an additional 1,660 dealer sites, all of which are supplied with fuel
• There are 10% rental increases every 5 years throughout the initial term and during options, steadily growing the NOI while providing a proper hedge against inflation
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• The site is strategically fronting W Mills St averaging 13,000 VPD
• Ideally positioned off I-26 (44,000 VPD), providing users with direct on/off ramp access
• Surrounding retailers in the trade area include Food Lion, Family Dollar, McDonald’s, Wendy’s, and more
• The asset has excellent visibility and access
• More than 11,000 residents and 5,000 employees support the trade area
• $90,173 average household income
• The lease is signed by GPM Investments dba Roadrunner, the nation’s
sixth-largest convenience store chain, boasting an expansive network
of approximately 3,200 locations. This network is comprised of diverse components, including around 1,400 company-operated stores, roughly 121 proprietary cardlock locations, and an additional 1,660 dealer sites, all of which are supplied with fuel
• There are 10% rental increases every 5 years throughout the initial term and during options, steadily growing the NOI while providing a proper hedge against inflation
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• The site is strategically fronting W Mills St averaging 13,000 VPD
• Ideally positioned off I-26 (44,000 VPD), providing users with direct on/off ramp access
• Surrounding retailers in the trade area include Food Lion, Family Dollar, McDonald’s, Wendy’s, and more
• The asset has excellent visibility and access
• More than 11,000 residents and 5,000 employees support the trade area
• $90,173 average household income
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,223 SF
Building Class
C
Year Built
1998
Price
$3,149,030 CAD
Price Per SF
$603 CAD
Cap Rate
6%
NOI
$188,982 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.25 AC
Zoning
C - Commercial
Parking
43 Spaces (8.23 Spaces per 1,000 SF Leased)
Frontage
189 ft on W Mills St
AMENITIES
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | P60-33 | Improvements Assessment | $1,438,645 CAD |
| Land Assessment | $898,566 CAD | Total Assessment | $2,337,211 CAD |
PROPERTY TAXES
Parcel Number
P60-33
Land Assessment
$898,566 CAD
Improvements Assessment
$1,438,645 CAD
Total Assessment
$2,337,211 CAD
CONTACTS
-
Patrick Nutt -
William Wamble -
Andrew Fallon -
Philip Wellde -
SRS Real Estate Partners
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GPM Investments (dba Roadrunner) | 393 W Mills St
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