Skip to main content

Auto Service - Gas-Conv

Express Lane / CrossAmerica Partners | 20+ year operating history | Surrounding Parcels Available

1602 W Tharpe St, Tallahassee, FL 32303

Listing Price: $956,000

Cap Rate
7.50%
Tenant Name
Express Lane / CrossAmerica Partners
Years Remaining On Lease
1.6
Guarantor
Corporate Guarantee
Rentable SF
4,200
Lease Type
NNN Ground Lease
Rent Per Square Feet
$17.07

Investment Overview

Express Lane / CrossAmerica Partners Lease Information • Long Operating History - Since 2001 • Absolute NNN Ground Lease - No Landlord responsibilities • One 5-year option remaining • 10% rent bumps in option periods • CrossAmerica Partners (NYSE: CAPL) acquired Express Lane Inc. in December of 2012 Long

Investment Highlights

  • • Long Operating History - Since 2001 • Absolute NNN Ground Lease - No Landlord responsibilities •One 5-year option remaining • 10% rent bumps in option
  • CrossAmerica Partners (NYSE: CAPL) acquired Express Lane Inc. in December of 2012
  • • Located on the signalized intersection of Tharpe St. (18,600 VPD) and High Rd. (12,000 VPD). •Built in customer base: Florida State University (1.5-miles) Amos Godby High School (0.2-miles)

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

Express Lane / CrossAmerica Partners | 20+ year operating history | Surrounding Parcels Available

Listing Price: $956,000

Cap Rate
7.50%
Tenant Name
Express Lane / CrossAmerica Partners
Years Remaining On Lease
1.6
Guarantor
Corporate Guarantee
Rentable SF
4,200
Lease Type
NNN Ground Lease
Rent Per Square Feet
$17.07

Investment Highlights

  • • Long Operating History - Since 2001 • Absolute NNN Ground Lease - No Landlord responsibilities •One 5-year option remaining • 10% rent bumps in option
  • CrossAmerica Partners (NYSE: CAPL) acquired Express Lane Inc. in December of 2012
  • • Located on the signalized intersection of Tharpe St. (18,600 VPD) and High Rd. (12,000 VPD). •Built in customer base: Florida State University (1.5-miles) Amos Godby High School (0.2-miles)

Investment Overview

Express Lane / CrossAmerica Partners Lease Information • Long Operating History - Since 2001 • Absolute NNN Ground Lease - No Landlord responsibilities • One 5-year option remaining • 10% rent bumps in option periods • CrossAmerica Partners (NYSE: CAPL) acquired Express Lane Inc. in December of 2012 Long

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower