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Auto Service - Gas-Conv

Mountain Express Oil Company

6229 Turner Lake Rd, Covington, GA 30014

Listing Price: $2,766,487

Cap Rate
5.75%
Tenant Name
Mountain Express Oil
Years Remaining On Lease
17.4
Gross SF
3,321
Guarantor
Corporate Guarantee
Rentable SF
3,321
Price/Gross SF
$833.03
Lease Type
Absolute Net
Rent Per Square Feet
$47.93

Investment Overview

Marcus & Millichap is pleased to exclusively present to qualified buyers at 6229 Turner Lake Rd, located in Covington, Georgia. The Subject Property consists of 3,321 SF and currently functions as a Gulf Gas Station with an absolute NNN lease. Mountain Express Oil Company operates the property, with a corporate guarantee. 18 Years remain on the current lease term, with 2% annual increases and Four (4) – Five (5) Year renewal options. Mountain Express Oil Company owns and controls more than 200 gas stations and provides fuel to more than 600 stations across 19 states under several significant oil and regional fuel brands. Mountain Express has connections with ExxonMobil, BP, Amoco, Shell, Chevron, Texaco, Sunoco, Valero, Gulf, CITGO, Diamond Shamrock, Marathon, Arco, Phillips 66, ConocoPhillips, and 76Motiva. Mountain Oil recently completed a $205-million debt financing, with proceeds being allocated to refinance its existing credit facilities and support its growth objectives over the next several years, focusing on the Northeast in states such as New Jersey and Pennsylvania. The property is located at the intersection of Turner Lake Road, which sees approximately 9,650 VPD, and Brown Bridge Road, which sees about 14,100 VPD. The Subject Property is located 32 miles from Atlanta, Georgia, and has nearly 170,000 residents within a 10-mile radius.

Investment Highlights

  • Absolute NNN Lease – No Landlord Responsibilities or Expenses
  • Corporate Guarantee Through Mountain Express Oil
  • 2 Percent Annual Rent Increases – 18 Years Remaining on Lease Term
  • Multiple Points of Access – Turner Lake Road and Brown Ridge Road Provide Excellent Visibility.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Financing By

Auto Service - Gas-Conv

Mountain Express Oil Company

Listing Price: $2,766,487

Cap Rate
5.75%
Tenant Name
Mountain Express Oil
Years Remaining On Lease
17.4
Gross SF
3,321
Guarantor
Corporate Guarantee
Rentable SF
3,321
Price/Gross SF
$833.03
Lease Type
Absolute Net
Rent Per Square Feet
$47.93

Investment Highlights

  • Absolute NNN Lease – No Landlord Responsibilities or Expenses
  • Corporate Guarantee Through Mountain Express Oil
  • 2 Percent Annual Rent Increases – 18 Years Remaining on Lease Term
  • Multiple Points of Access – Turner Lake Road and Brown Ridge Road Provide Excellent Visibility.

Investment Overview

Marcus & Millichap is pleased to exclusively present to qualified buyers at 6229 Turner Lake Rd, located in Covington, Georgia. The Subject Property consists of 3,321 SF and currently functions as a Gulf Gas Station with an absolute NNN lease. Mountain Express Oil Company operates the property, with a corporate guarantee. 18 Years remain on the current lease term, with 2% annual increases and Four (4) – Five (5) Year renewal options. Mountain Express Oil Company owns and controls more than 200 gas stations and provides fuel to more than 600 stations across 19 states under several significant oil and regional fuel brands. Mountain Express has connections with ExxonMobil, BP, Amoco, Shell, Chevron, Texaco, Sunoco, Valero, Gulf, CITGO, Diamond Shamrock, Marathon, Arco, Phillips 66, ConocoPhillips, and 76Motiva. Mountain Oil recently completed a $205-million debt financing, with proceeds being allocated to refinance its existing credit facilities and support its growth objectives over the next several years, focusing on the Northeast in states such as New Jersey and Pennsylvania. The property is located at the intersection of Turner Lake Road, which sees approximately 9,650 VPD, and Brown Bridge Road, which sees about 14,100 VPD. The Subject Property is located 32 miles from Atlanta, Georgia, and has nearly 170,000 residents within a 10-mile radius.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

Financing By

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