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Murphy Express (20-Year Ground Lease)

3331 34th St, Lubbock, TX 79413

Listing Price: $1,796,000

Cap Rate
4.90%
Tenant Name
Murphy Express
Years Remaining On Lease
19.4
Gross SF
2,800
Guarantor
Corporate Guarantee
Rentable SF
2,800
Price/Gross SF
$641.43
Lease Type
Ground Lease
Rent Per Square Feet
$31.43

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Murphy Express ground lease in Lubbock, Texas. The property consists of a 2,800-square-foot, freestanding building that sits on approximately 0.57 acres of land. The lease features 8 percent rental escalations every five years during the primary term, as well as each option thereafter.

Investment Highlights

  • New 20-Year Ground Lease with 8 Percent Rental Escalations Scheduled Every Five Years
  • Near Texas Tech University - Largest Employer in the Metro with Nearly 21,000 Jobs and 40,666 Students Enrolled
  • Signalized Hard Corner Location on Indiana Avenue and 34th Street; Combined Traffic Counts Exceed 54,111 Vehicles per Day
  • Corporate Guarantee by Murphy Oil USA, Inc. (NYSE: MUSA)
  • 2022 Construction
  • More than 229,030 Residents Within a Five-Mile Radius

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Murphy Express (20-Year Ground Lease)

Listing Price: $1,796,000

Cap Rate
4.90%
Tenant Name
Murphy Express
Years Remaining On Lease
19.4
Gross SF
2,800
Guarantor
Corporate Guarantee
Rentable SF
2,800
Price/Gross SF
$641.43
Lease Type
Ground Lease
Rent Per Square Feet
$31.43

Investment Highlights

  • New 20-Year Ground Lease with 8 Percent Rental Escalations Scheduled Every Five Years
  • Near Texas Tech University - Largest Employer in the Metro with Nearly 21,000 Jobs and 40,666 Students Enrolled
  • Signalized Hard Corner Location on Indiana Avenue and 34th Street; Combined Traffic Counts Exceed 54,111 Vehicles per Day
  • Corporate Guarantee by Murphy Oil USA, Inc. (NYSE: MUSA)
  • 2022 Construction
  • More than 229,030 Residents Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Murphy Express ground lease in Lubbock, Texas. The property consists of a 2,800-square-foot, freestanding building that sits on approximately 0.57 acres of land. The lease features 8 percent rental escalations every five years during the primary term, as well as each option thereafter.

Exclusively Listed By

Financing By

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