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Auto Service - Gas-Conv

BP

2625 Alexandria Pike, Highland Heights, KY 41076

Listing Price: $5,233,528

Cap Rate
6.15%
Tenant Name
CrossAmerica Partners
Years Remaining On Lease
7.8
Guarantor
Corporate Guarantee
Rentable SF
2,578
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$124.85

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an BP Gas Station & Convenience Store located at 2625 Alexandria Pike in Highland Heights, Kentucky. The site consists of roughly 2,578 rentable square feet of building space on estimated 1.01-acre parcel of land. BP Gas Station is subject to an original 20-year absolute triple-net (NNN) lease, which commenced November 17th, 2010. The current annual rent is $321,862 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.

Investment Highlights

  • 8-Years Remaining on an Original 20-Year Triple-Net (NNN) Lease
  • Attractive 2% Annual Rental Increases
  • Corporate Guarantee from CrossAmericaPartners LP

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KY: 242197

    Kentucky

Listing Price: $5,233,528

Cap Rate
6.15%
Tenant Name
CrossAmerica Partners
Years Remaining On Lease
7.8
Guarantor
Corporate Guarantee
Rentable SF
2,578
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$124.85

Investment Highlights

  • 8-Years Remaining on an Original 20-Year Triple-Net (NNN) Lease
  • Attractive 2% Annual Rental Increases
  • Corporate Guarantee from CrossAmericaPartners LP

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an BP Gas Station & Convenience Store located at 2625 Alexandria Pike in Highland Heights, Kentucky. The site consists of roughly 2,578 rentable square feet of building space on estimated 1.01-acre parcel of land. BP Gas Station is subject to an original 20-year absolute triple-net (NNN) lease, which commenced November 17th, 2010. The current annual rent is $321,862 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KY: 242197

    Kentucky

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