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Auto Service - Gas-Conv

CEFCO Gas/C-Store | New Build 15-Year Abs. NNN Lease | Excellent Tenant Financials

2704 SpringHill Ave, Mobile, AL 36607

Listing Price: $6,000,000

Cap Rate
5.50%
Tenant Name
Fikes Wholesale, Inc., a Texas Corporation
Gross SF
5,000
Guarantor
Corporate Guarantee
Rentable SF
5,000
Price/Gross SF
$1,200.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$66.00

Investment Overview

Fikes Wholesale, Inc. -- parent company of CEFCO -- is a privately held company headquartered in Temple, Texas that has been in business since the 1950s and has grown to a more than $1.6 billion company with 200+ stores and 3,000+ employees in seven states, making it among the largest privately-held convenience store chains in the United States. Mobile is the county seat of Mobile County, Alabama and is the fourth-most populous city in the state, after Huntsville, Birmingham, and Montgomery. Considered one of the Gulf Coast’s cultural centers, Mobile has several art museums, a symphony orchestra, professional opera, professional ballet company, and a large concentration of historic architecture. The city is known for having the oldest organized Carnival or Mardi Gras celebrations in the country.

Investment Highlights

  • Brand New 15 Year Absolute Triple-Net (NNN) Corporate Lease
  • Guaranteed by Fikes Wholesale, Inc. with 2021 Revenue in Excess of $1.5 Billion
  • 7.5 Percent Rental Increases Every Five Years
  • Site Includes 16 Fueling Stations (8 Pumps) and an On-Site ATM
  • Signalized Hard Corner Location Visible to 54,700+ Cars/Day at the Corner of SpringHill Avenue and Mobile Street
  • 144,124 Residents and 192,054 Daytime Employees within a Five-Mile Radius
  • Easy Freeway Access - Located One Mile Off the I-65 Freeway
  • Within a 15-Minute Drive of Over 18,000 Students at University of South Alabama, Spring Hill College, and Bishop State Community College

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Auto Service - Gas-Conv

CEFCO Gas/C-Store | New Build 15-Year Abs. NNN Lease | Excellent Tenant Financials

Listing Price: $6,000,000

Cap Rate
5.50%
Tenant Name
Fikes Wholesale, Inc., a Texas Corporation
Gross SF
5,000
Guarantor
Corporate Guarantee
Rentable SF
5,000
Price/Gross SF
$1,200.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$66.00

Investment Highlights

  • Brand New 15 Year Absolute Triple-Net (NNN) Corporate Lease
  • Guaranteed by Fikes Wholesale, Inc. with 2021 Revenue in Excess of $1.5 Billion
  • 7.5 Percent Rental Increases Every Five Years
  • Site Includes 16 Fueling Stations (8 Pumps) and an On-Site ATM
  • Signalized Hard Corner Location Visible to 54,700+ Cars/Day at the Corner of SpringHill Avenue and Mobile Street
  • 144,124 Residents and 192,054 Daytime Employees within a Five-Mile Radius
  • Easy Freeway Access - Located One Mile Off the I-65 Freeway
  • Within a 15-Minute Drive of Over 18,000 Students at University of South Alabama, Spring Hill College, and Bishop State Community College

Investment Overview

Fikes Wholesale, Inc. -- parent company of CEFCO -- is a privately held company headquartered in Temple, Texas that has been in business since the 1950s and has grown to a more than $1.6 billion company with 200+ stores and 3,000+ employees in seven states, making it among the largest privately-held convenience store chains in the United States. Mobile is the county seat of Mobile County, Alabama and is the fourth-most populous city in the state, after Huntsville, Birmingham, and Montgomery. Considered one of the Gulf Coast’s cultural centers, Mobile has several art museums, a symphony orchestra, professional opera, professional ballet company, and a large concentration of historic architecture. The city is known for having the oldest organized Carnival or Mardi Gras celebrations in the country.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

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