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Auto Service - Gas-Conv

Chevron Gas Station I Absolute NNN

10940 Farm to Market Rd 1488, Magnolia, TX 77354

Listing Price: $3,709,000

Cap Rate
5.50%
Tenant Name
Chevron
Years Remaining On Lease
9.8
Guarantor
Corporate Guarantee
Rentable SF
4,792
Lease Type
Absolute Net
Rent Per Square Feet
$42.57

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net leased Chevron Gas Station with Subway Restaurant & Zipps Liquor, located in Magnolia, Texas. Built in 2001, this 5,500-square foot building is situated on 1.50 acres of land with great visibility from FM 1488 Frontage. With over 50 locations in the greater Houston area, this strong regional gas station tenant recently signed a 10 year lease with five year options and 10 percent rent increases. Both Zipps Liquor and Subway Restaurant tenants each have over four years remaining on the current lease with five year options and 10 percent rent increases remaining, as well. The property is 100 percent occupied with NNN leases, providing investors with a stabilized investment.

Investment Highlights

  • Absolute NNN
  • Strong Regional Tenant
  • Excellent Visibility
  • Stabilized Gas Station with 100% Occupancy
  • Long-Term Tenants

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Chevron Gas Station I Absolute NNN

Listing Price: $3,709,000

Cap Rate
5.50%
Tenant Name
Chevron
Years Remaining On Lease
9.8
Guarantor
Corporate Guarantee
Rentable SF
4,792
Lease Type
Absolute Net
Rent Per Square Feet
$42.57

Investment Highlights

  • Absolute NNN
  • Strong Regional Tenant
  • Excellent Visibility
  • Stabilized Gas Station with 100% Occupancy
  • Long-Term Tenants

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net leased Chevron Gas Station with Subway Restaurant & Zipps Liquor, located in Magnolia, Texas. Built in 2001, this 5,500-square foot building is situated on 1.50 acres of land with great visibility from FM 1488 Frontage. With over 50 locations in the greater Houston area, this strong regional gas station tenant recently signed a 10 year lease with five year options and 10 percent rent increases. Both Zipps Liquor and Subway Restaurant tenants each have over four years remaining on the current lease with five year options and 10 percent rent increases remaining, as well. The property is 100 percent occupied with NNN leases, providing investors with a stabilized investment.

Exclusively Listed By

Financing By

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