Auto Service - Gas-Conv

Chevron Station

3745 Portland Rd, Newberg, OR 97132

Listing Price: $4,249,000

Cap Rate
6.50%
Gross SF
4,809
Guarantor
Limited Corporate Guarantee
Rentable SF
4,809
Price/Gross SF
$883.55
Lease Type
Absolute Net
Rent Per Square Feet
$57.43

Investment Overview

Chevron Station in Newberg, Oregon, is a multi-use site that includes twelve fuel pump stations, an ExtraMile convenience store, automated car wash, and a United States Postal Service drop-off location. The entire site is being offered by the current landlord and operator on a NNN basis, with a new commitment of ten years to begin at the close of escrow. The absolute NNN lease will include zero landlord responsibilities as to the maintenance of the property, real property taxes, insurance, utilities, or roof and structure, and is designed to accommodate investors interested in an entirely passive cash-flowing asset. The lease will feature 0.5% annual rental increases through the primary term and option periods.

Chevron Station consists of a 2,600 square foot convenience store, a 2,100 square foot automated car wash structure, and easily accessible exterior fuel bays. The site is highly visible from Pacific Highway and is located at a four-way intersection with traffic counts in excess of 37,000 vehicles per day. The location of the property on the eastern side of Newberg provides a strategic advantage as it is the first station in town visible to those traveling through Newberg from the Portland area. The site also benefits from its proximity to important Newberg landmarks including George Fox University, Newberg High School, and the Providence Newberg Medical Center, an adjacent 56-acre facility that was the first Gold LEED certified hospital in the entire country. Chevron Station is within a quarter-mile of two large shopping centers anchored by Fred Meyer and Safeway, and an upcoming development project named Crestview Crossing that will feature over 300 new residential units scheduled for 2021 completion.

Business at the site is extraordinarily healthy, boasting a three-year average of just under 150,000 gallons of fuel pumped per month. The Chevron Station lease will be executed and secured by Saphire Services, LLC, an experienced 7-unit operator, along with a personal guarantee from the companys ownership.

Investment Highlights

  • 10-Year Term from COE
  • 0.5% Annual Rental Increases
  • Company and Personal Guaranty
  • 6.65% Average Cap Rate over Initial Term
  • High Production Site | 145,000+ Gallons/Month
  • Absolute NNN Lease

Exclusively Listed By

Auto Service - Gas-Conv

Chevron Station

Listing Price: $4,249,000

Cap Rate
6.50%
Gross SF
4,809
Guarantor
Limited Corporate Guarantee
Rentable SF
4,809
Price/Gross SF
$883.55
Lease Type
Absolute Net
Rent Per Square Feet
$57.43

Investment Highlights

  • 10-Year Term from COE
  • 0.5% Annual Rental Increases
  • Company and Personal Guaranty
  • 6.65% Average Cap Rate over Initial Term
  • High Production Site | 145,000+ Gallons/Month
  • Absolute NNN Lease

Investment Overview

Chevron Station in Newberg, Oregon, is a multi-use site that includes twelve fuel pump stations, an ExtraMile convenience store, automated car wash, and a United States Postal Service drop-off location. The entire site is being offered by the current landlord and operator on a NNN basis, with a new commitment of ten years to begin at the close of escrow. The absolute NNN lease will include zero landlord responsibilities as to the maintenance of the property, real property taxes, insurance, utilities, or roof and structure, and is designed to accommodate investors interested in an entirely passive cash-flowing asset. The lease will feature 0.5% annual rental increases through the primary term and option periods.

Chevron Station consists of a 2,600 square foot convenience store, a 2,100 square foot automated car wash structure, and easily accessible exterior fuel bays. The site is highly visible from Pacific Highway and is located at a four-way intersection with traffic counts in excess of 37,000 vehicles per day. The location of the property on the eastern side of Newberg provides a strategic advantage as it is the first station in town visible to those traveling through Newberg from the Portland area. The site also benefits from its proximity to important Newberg landmarks including George Fox University, Newberg High School, and the Providence Newberg Medical Center, an adjacent 56-acre facility that was the first Gold LEED certified hospital in the entire country. Chevron Station is within a quarter-mile of two large shopping centers anchored by Fred Meyer and Safeway, and an upcoming development project named Crestview Crossing that will feature over 300 new residential units scheduled for 2021 completion.

Business at the site is extraordinarily healthy, boasting a three-year average of just under 150,000 gallons of fuel pumped per month. The Chevron Station lease will be executed and secured by Saphire Services, LLC, an experienced 7-unit operator, along with a personal guarantee from the companys ownership.

Exclusively Listed By

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