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Auto Service - Gas-Conv

Citgo C-Store & Gas (NASDAQ: ARKO) | Low Price Point | Absolute Net Lease | Bonus Depreciation

4300 Nine Mile Rd, Richmond, VA 23231

Listing Price: $1,207,385

Cap Rate
6.50%
Tenant Name
Citgo
Years Remaining On Lease
6.1
Gross SF
1,425
Guarantor
Franchisee Guarantee
Rentable SF
1,425
Price/Gross SF
$847.29
Lease Type
Absolute Net
Rent Per Square Feet
$55.07

Investment Overview

Richmond, Virginia, is a city rich in history and brimming with modern charm. As the capital of Virginia, it is a cultural and economic hub with deep roots in American history, playing a pivotal role in both the Revolutionary and Civil Wars. Today, Richmond blends its historical legacy with vibrant urban living.

The city is renowned for its beautifully preserved historic districts, such as Church Hill, where cobblestone streets and colonial-era architecture transport visitors back in time. The Virginia State Capitol, designed by Thomas Jefferson, and the iconic Monument Avenue are testaments to Richmond’s historical significance.

Richmond’s thriving arts and culinary scenes make it a destination for locals and tourists alike. The Virginia Museum of Fine Arts is a centerpiece of the arts community, featuring extensive collections that span centuries and cultures. Meanwhile, the city’s food and drink culture has gained national attention, with a mix of innovative restaurants, craft breweries, and farmers’ markets showcasing the best of local flavors.

Outdoor enthusiasts appreciate the James River, which flows through the heart of Richmond. Its parks and trails offer opportunities for kayaking, hiking, and cycling, blending urban convenience with natural beauty. Belle Isle, in particular, is a favorite for its scenic views and outdoor activities.

Richmond is also an educational and economic powerhouse, home to institutions like Virginia Commonwealth University and the University of Richmond. The city’s economy thrives on sectors such as finance, law, and manufacturing, while its central location along Interstate 95 makes it a key player in regional commerce.

Investment Highlights

  • Corporate Backed Absolute Net Lease (Zero Landlord Obligations) Featuring 9% Rental Increases at Each Option. Strong Commitment to the Location - Tenant Exercised and Extended the Term.
  • Positioned Along Area's Retail & Traffic Corridor: Features Easy Access and Excellent Visibility to Daily Traffic Counts Exceeding 25k Vehicles. In Close Proximity to Interstate-64 (80k+ VPD).
  • Significant Tax Benefits - Subject Property Qualifies for Tax Savings via Accelerated Depreciation and Cost Segregation. 35+ Year Historical Occupancy as a Gas Station.
  • Along Nine Mile Road - a Vital Corridor Connecting Eastern Richmond Neighborhoods to Downtown. It serves as a Primary Artery for Commuters, linking Residential Areas to the City's Economic and Cultural Hubs.
  • ARKO Corp. (Nasdaq: ARKO), a Fortune 500 Company, is a Leading U.S. Convenience Store Operator and Fuel Wholesaler, running 1,550 Stores and supplying fuel to over 1,800 Dealer Sites via GPM Investments, LLC.
  • Densely Populated Area: Features more than 191k People Residing within a 5-Mile Radius. Richmond has Experienced Notable Population Growth in Recent Years, Reflecting its Increasing Appeal as a Place to Live and Work.
  • The Site Benefits from its Close Proximity to Downtown Richmond - Home to a Variety of Museums, Theaters, Music Venues, and Restaurants, Providing Residents and Visitors with a Wide Range of Activities to Enjoy.
  • About a Mile From White Oak Village - a Sprawling Outdoor Shopping Center Anchored by Lowe's, Target, Petsmart and multiple other Big-Box Tenants, Chain Restaurants & a Hotel.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • David Kern

    First Vice President Investments

    (858) 373-3185

    Email David

    License(s): CA: 01878012

    San Diego Downtown

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

Auto Service - Gas-Conv

Citgo C-Store & Gas (NASDAQ: ARKO) | Low Price Point | Absolute Net Lease | Bonus Depreciation

Listing Price: $1,207,385

Cap Rate
6.50%
Tenant Name
Citgo
Years Remaining On Lease
6.1
Gross SF
1,425
Guarantor
Franchisee Guarantee
Rentable SF
1,425
Price/Gross SF
$847.29
Lease Type
Absolute Net
Rent Per Square Feet
$55.07

Investment Highlights

  • Corporate Backed Absolute Net Lease (Zero Landlord Obligations) Featuring 9% Rental Increases at Each Option. Strong Commitment to the Location - Tenant Exercised and Extended the Term.
  • Positioned Along Area's Retail & Traffic Corridor: Features Easy Access and Excellent Visibility to Daily Traffic Counts Exceeding 25k Vehicles. In Close Proximity to Interstate-64 (80k+ VPD).
  • Significant Tax Benefits - Subject Property Qualifies for Tax Savings via Accelerated Depreciation and Cost Segregation. 35+ Year Historical Occupancy as a Gas Station.
  • Along Nine Mile Road - a Vital Corridor Connecting Eastern Richmond Neighborhoods to Downtown. It serves as a Primary Artery for Commuters, linking Residential Areas to the City's Economic and Cultural Hubs.
  • ARKO Corp. (Nasdaq: ARKO), a Fortune 500 Company, is a Leading U.S. Convenience Store Operator and Fuel Wholesaler, running 1,550 Stores and supplying fuel to over 1,800 Dealer Sites via GPM Investments, LLC.
  • Densely Populated Area: Features more than 191k People Residing within a 5-Mile Radius. Richmond has Experienced Notable Population Growth in Recent Years, Reflecting its Increasing Appeal as a Place to Live and Work.
  • The Site Benefits from its Close Proximity to Downtown Richmond - Home to a Variety of Museums, Theaters, Music Venues, and Restaurants, Providing Residents and Visitors with a Wide Range of Activities to Enjoy.
  • About a Mile From White Oak Village - a Sprawling Outdoor Shopping Center Anchored by Lowe's, Target, Petsmart and multiple other Big-Box Tenants, Chain Restaurants & a Hotel.

Investment Overview

Richmond, Virginia, is a city rich in history and brimming with modern charm. As the capital of Virginia, it is a cultural and economic hub with deep roots in American history, playing a pivotal role in both the Revolutionary and Civil Wars. Today, Richmond blends its historical legacy with vibrant urban living. The city is renowned for its beautifully preserved historic districts, such as Church Hill, where cobblestone streets and colonial-era architecture transport visitors back in time. The Virginia State Capitol, designed by Thomas Jefferson, and the iconic Monument Avenue are testaments to Richmond’s historical significance. Richmond’s thriving arts and culinary scenes make it a destination for locals and tourists alike. The Virginia Museum of Fine Arts is a centerpiece of the arts community, featuring extensive collections that span centuries and cultures. Meanwhile, the city’s food and drink culture has gained national attention, with a mix of innovative restaurants, craft breweries, and farmers’ markets showcasing the best of local flavors. Outdoor enthusiasts appreciate the James River, which flows through the heart of Richmond. Its parks and trails offer opportunities for kayaking, hiking, and cycling, blending urban convenience with natural beauty. Belle Isle, in particular, is a favorite for its scenic views and outdoor activities. Richmond is also an educational and economic powerhouse, home to institutions like Virginia Commonwealth University and the University of Richmond. The city’s economy thrives on sectors such as finance, law, and manufacturing, while its central location along Interstate 95 makes it a key player in regional commerce.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • David Kern

    First Vice President Investments

    (858) 373-3185

    Email David

    License(s): CA: 01878012

    San Diego Downtown

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

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