Auto Service - Gas-Conv
Speedway - Legacy Location with Long-Term Operating History
354 Main St, Gloucester, MA 01930
Listing Price: $4,761,905
Cap Rate
5.25%
Tenant Name
Speedway
Years Remaining On Lease
14.6
Guarantor
Corporate Guarantee
Rentable SF
700
Lease Type
Absolute Net
Rent Per Square Feet
$357.14
Investment Overview
354 Main St, Gloucester, MA
Speedway - Legacy Location with Long-Term Operating History
Investment Highlights
- 15-YEAR ABSOLUTE-NET LEASE EXTENSION: The Lease Was Recently Extended By 15 Years In April Of 2025 Showing How Committed The Tenant Is To This Location.
- LEGACY LOCATION WITH LONG-TERM OPERATING HISTORY: The Property Has Continuously Operated As A Gas Station For Over 50 Years And Has Been A Hess/Speedway Location Since The 1990's.
- 10% RENT ESCALATIONS EVERY 5 YEARS: Contractual Rent Escalations At 10% Every Five Years Provide Reliable Upside Income Through Term Renewal.
- COMPACT, WELL-MAINTAINED ASSET | 700 SF BUILDING ON 1.15 ACRES: Built In 1976, The Property Includes A Small Building Footprint (700 SF) With Generous Land For Strong Visibility, Parking, And Fuel Operations.
- BEST-IN-CLASS OPERATOR BACKED BY THE LARGEST GAS/CONVENIENCE STORE CHAIN IN THE WORLD: Speedway, LLC Is A Wholly Owned Subsidiary of 7-Eleven, Inc. Who Is The Leading C-Store Operator In The World With 85,000 Stores Across 20 Countries.
- RARE OPPORTUNITY TO ACQUIRE A 100% BONUS DEPRECIATION ELIGIBLE PROPERTY IN NEW ENGLAND: The Property Should be Subject to 100% Bonus Depreciation, However Please Consult With Your Tax Professional To Verify.
- GLOUCESTER TRAFFIC AND COMMUNITY PRESENCE: Located On Main Street In Gloucester, Within A High-Traffic, Well-Established Retail Corridor, Appealing To Both Local Residents And Tourist Influx.
Exclusively Listed By
Broker of Record
Auto Service - Gas-Conv
Speedway - Legacy Location with Long-Term Operating History
Listing Price: $4,761,905
Cap Rate
5.25%
Tenant Name
Speedway
Years Remaining On Lease
14.6
Guarantor
Corporate Guarantee
Rentable SF
700
Lease Type
Absolute Net
Rent Per Square Feet
$357.14
Investment Highlights
- 15-YEAR ABSOLUTE-NET LEASE EXTENSION: The Lease Was Recently Extended By 15 Years In April Of 2025 Showing How Committed The Tenant Is To This Location.
- LEGACY LOCATION WITH LONG-TERM OPERATING HISTORY: The Property Has Continuously Operated As A Gas Station For Over 50 Years And Has Been A Hess/Speedway Location Since The 1990's.
- 10% RENT ESCALATIONS EVERY 5 YEARS: Contractual Rent Escalations At 10% Every Five Years Provide Reliable Upside Income Through Term Renewal.
- COMPACT, WELL-MAINTAINED ASSET | 700 SF BUILDING ON 1.15 ACRES: Built In 1976, The Property Includes A Small Building Footprint (700 SF) With Generous Land For Strong Visibility, Parking, And Fuel Operations.
- BEST-IN-CLASS OPERATOR BACKED BY THE LARGEST GAS/CONVENIENCE STORE CHAIN IN THE WORLD: Speedway, LLC Is A Wholly Owned Subsidiary of 7-Eleven, Inc. Who Is The Leading C-Store Operator In The World With 85,000 Stores Across 20 Countries.
- RARE OPPORTUNITY TO ACQUIRE A 100% BONUS DEPRECIATION ELIGIBLE PROPERTY IN NEW ENGLAND: The Property Should be Subject to 100% Bonus Depreciation, However Please Consult With Your Tax Professional To Verify.
- GLOUCESTER TRAFFIC AND COMMUNITY PRESENCE: Located On Main Street In Gloucester, Within A High-Traffic, Well-Established Retail Corridor, Appealing To Both Local Residents And Tourist Influx.
Investment Overview
354 Main St, Gloucester, MA
Exclusively Listed By
Broker of Record
-
Thomas Shihadeh
Vice President/Regional Manager
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