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BP Gas

508 Avon Belden Rd, Avon Lake, OH 44012

Listing Price: $1,933,000

Cap Rate
6.40%
Tenant Name
BP Gas
Years Remaining On Lease
8.9
Gross SF
1,661
Guarantor
Corporate Guarantee
Rentable SF
1,661
Price/Gross SF
$1,163.76
Lease Type
Absolute Net
Rent Per Square Feet
$74.49

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, BP Gas, located in Avon Lake, Ohio. BP Gas has an absolute triple-net lease with 10 years remaining. The subject property has increased tax savings and cash flow with a 15-year accelerated depreciation schedule. There is a convenience store and an eight-pump canopied gas station situated on half an acre.

Investment Highlights

  • BP Gas Absolute Triple-Net Lease with 10 Years Remaining in Avon Lake, Ohio (Cleveland MSA)
  • Two Percent Annual Rent Increases in Base Term and Options Provides Inflation Hedge and Substantial Net Operating Income Growth Over Hold Period
  • Fee-Simple Absolute Triple-Net Lease Structure – Zero Landlord Responsibilities and Ability to Depreciate Improvements
  • Increased Tax Savings and Cash Flow – 15-Year Accelerated Depreciation Schedule
  • Eight-Pump Gas Station and Convenience Store with Four Points of Ingress/Egress on to Both Avon Belden Road and Walker Road Providing Maximum Accessibility
  • Full Corporate Guaranty from Publicly-Traded CrossAmerica Partners LP (NYSE: CAPL) and Several Subsidiaries
  • Tenant Fully Indemnifies Landlord for Any and All Environmental and Hazardous Materials Issues – Tenant's Covenants Survive the Expiration of the Lease

Exclusively Listed By

Listing Price: $1,933,000

Cap Rate
6.40%
Tenant Name
BP Gas
Years Remaining On Lease
8.9
Gross SF
1,661
Guarantor
Corporate Guarantee
Rentable SF
1,661
Price/Gross SF
$1,163.76
Lease Type
Absolute Net
Rent Per Square Feet
$74.49

Investment Highlights

  • BP Gas Absolute Triple-Net Lease with 10 Years Remaining in Avon Lake, Ohio (Cleveland MSA)
  • Two Percent Annual Rent Increases in Base Term and Options Provides Inflation Hedge and Substantial Net Operating Income Growth Over Hold Period
  • Fee-Simple Absolute Triple-Net Lease Structure – Zero Landlord Responsibilities and Ability to Depreciate Improvements
  • Increased Tax Savings and Cash Flow – 15-Year Accelerated Depreciation Schedule
  • Eight-Pump Gas Station and Convenience Store with Four Points of Ingress/Egress on to Both Avon Belden Road and Walker Road Providing Maximum Accessibility
  • Full Corporate Guaranty from Publicly-Traded CrossAmerica Partners LP (NYSE: CAPL) and Several Subsidiaries
  • Tenant Fully Indemnifies Landlord for Any and All Environmental and Hazardous Materials Issues – Tenant's Covenants Survive the Expiration of the Lease

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, BP Gas, located in Avon Lake, Ohio. BP Gas has an absolute triple-net lease with 10 years remaining. The subject property has increased tax savings and cash flow with a 15-year accelerated depreciation schedule. There is a convenience store and an eight-pump canopied gas station situated on half an acre.

Exclusively Listed By

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