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Exxon Gas & C-Store | 20Yr Abs Net SaleLeaseback | Tunica Resorts - Popular Casino Destination in US

2244 Casino Strip Resort Blvd, Tunica Resorts (Outside Memphis), MS 38664

Listing Price: $4,500,000

Cap Rate
6.00%
Tenant Name
Exxon
Years Remaining On Lease
20.2
Gross SF
4,423
Guarantor
Franchisee Guarantee
Rentable SF
4,423
Price/Gross SF
$1,017.41
Lease Type
Absolute Net
Rent Per Square Feet
$61.04

Investment Overview

Memphis is a city along the Mississippi River in southwestern Shelby County, Tennessee. Its 2020 population was 633,104, making it Tennessee's second-most populous city behind Nashville, the nation's 28th-largest, and the largest city proper situated along the Mississippi River. Greater Memphis is the 42nd-largest metropolitan area in the United States, with a population of 1,348,260 in 2017. The city is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas, Mississippi, and the Missouri Bootheel. Memphis is the seat of Shelby County, Tennessee's most populous county. One of the more historic and culturally significant cities of the southern United States, Memphis has a wide variety of landscapes and distinct neighborhoods. Memphis is a regional center for commerce, education, media, art, and entertainment. It has long had a prominent music scene, with historic blues clubs on Beale Street originating the unique Memphis blues sound in the early 20th century. The city's music has continued to be shaped by a multicultural mix of influences: the blues, country, rock and roll, soul, and hip-hop. Memphis-style barbecue has achieved international prominence, and the city hosts the World Championship Barbecue Cooking Contest, which attracts over 100,000 visitors to the city annually.

Investment Highlights

  • 20 Year Absolute Net Sale Leaseback Featuring 5% Rental Increases Every 5 Years throughout the Initial Term and Options. High Barrier to Entry Location.
  • Ran Management Group of Companies has been in the Business for more than 20 Years, currently Operating in Memphis, Arkansas, and Mississippi with an Aim to Expand and Grow Continuously.
  • This Location is Substantially Below Replacement Cost. Recession and Covid-19 Resistant Retailer with Attractive Industry Dynamics. Qualifies for Accelerated Depreciation.
  • Signalized Hard Corner Location - Features Easy Access and Excellent Visibility. Within Tunica Resorts - Ranked as one of the Largest Casino-Gambling Destination in the Nation.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Auto Service - Gas-Conv

Exxon Gas & C-Store | 20Yr Abs Net SaleLeaseback | Tunica Resorts - Popular Casino Destination in US

Listing Price: $4,500,000

Cap Rate
6.00%
Tenant Name
Exxon
Years Remaining On Lease
20.2
Gross SF
4,423
Guarantor
Franchisee Guarantee
Rentable SF
4,423
Price/Gross SF
$1,017.41
Lease Type
Absolute Net
Rent Per Square Feet
$61.04

Investment Highlights

  • 20 Year Absolute Net Sale Leaseback Featuring 5% Rental Increases Every 5 Years throughout the Initial Term and Options. High Barrier to Entry Location.
  • Ran Management Group of Companies has been in the Business for more than 20 Years, currently Operating in Memphis, Arkansas, and Mississippi with an Aim to Expand and Grow Continuously.
  • This Location is Substantially Below Replacement Cost. Recession and Covid-19 Resistant Retailer with Attractive Industry Dynamics. Qualifies for Accelerated Depreciation.
  • Signalized Hard Corner Location - Features Easy Access and Excellent Visibility. Within Tunica Resorts - Ranked as one of the Largest Casino-Gambling Destination in the Nation.

Investment Overview

Memphis is a city along the Mississippi River in southwestern Shelby County, Tennessee. Its 2020 population was 633,104, making it Tennessee's second-most populous city behind Nashville, the nation's 28th-largest, and the largest city proper situated along the Mississippi River. Greater Memphis is the 42nd-largest metropolitan area in the United States, with a population of 1,348,260 in 2017. The city is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas, Mississippi, and the Missouri Bootheel. Memphis is the seat of Shelby County, Tennessee's most populous county. One of the more historic and culturally significant cities of the southern United States, Memphis has a wide variety of landscapes and distinct neighborhoods. Memphis is a regional center for commerce, education, media, art, and entertainment. It has long had a prominent music scene, with historic blues clubs on Beale Street originating the unique Memphis blues sound in the early 20th century. The city's music has continued to be shaped by a multicultural mix of influences: the blues, country, rock and roll, soul, and hip-hop. Memphis-style barbecue has achieved international prominence, and the city hosts the World Championship Barbecue Cooking Contest, which attracts over 100,000 visitors to the city annually.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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