Phillips 66 Multi-Tenant Service Station | 795 Michigan Rd
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Phillips 66 Multi-Tenant Service Station 795 Michigan Rd
5,314 SF 100% Leased Retail Building Plymouth, IN 46563 $3,537,075 CAD ($666 CAD/SF) 7.02% Cap Rate
Investment Highlights
- Multi-tenant Phillips 66 Service Station & Arby's Quick Service Restaurant
- Two (2) Triple Net Leases; both tenants still in their 20-year lease term with attractive options to extend their lease term
- Property is across the street from a well-performing McDonald's and the next QSR is over 5 miles away
- Moody's Credit Rating: Phillips 66 - Baa1 & Inspire Brands (Arby's Parent Company) - B2
- Strong Demographics - Average Household Income in Excess of $82,357 Within a 5-Mile Radius
- Recently Renewed 5-year Lease From Arby’s showing commitment to the location
Executive Summary
Franklin Street is pleased to exclusively present for sale a premier investment opportunity featuring a multi-tenant property comprising a Phillips 66 Service Station and an Arby’s Quick Service Restaurant, strategically located in a thriving area with robust economic demographics and high traffic visibility. Both national, credit tenants with strong corporate guarantees. Located in Plymouth, Indiana at a 7.02% cap rate this is a great investment for an investor looking for a stable cash flow.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
5,314 SF
Building Class
C
Year Built/Renovated
1981/2010
Price
$3,537,075 CAD
Price Per SF
$666 CAD
Cap Rate
7.02%
NOI
$248,320 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.06
Lot Size
2.17 AC
Zoning
C - Commercial
Parking
40 Spaces (7.53 Spaces per 1,000 SF Leased)
Frontage
393 ft on South Michigan street
Amenities
- 24 Hour Access
- Corner Lot
- Pylon Sign
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Arby's
- Accommodation and Food Services
- -
- -
- -
- Phillips 66
- Services
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Arby's | Accommodation and Food Services | - | - | - | ||
| Phillips 66 | Services | - | - | - |
PROPERTY TAXES
| Parcel Number | 50-52-95-404-424.000-010 | Improvements Assessment | $437,380 CAD |
| Land Assessment | $92,683 CAD | Total Assessment | $530,063 CAD |
PROPERTY TAXES
Parcel Number
50-52-95-404-424.000-010
Land Assessment
$92,683 CAD
Improvements Assessment
$437,380 CAD
Total Assessment
$530,063 CAD
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Phillips 66 Multi-Tenant Service Station | 795 Michigan Rd
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