Investment Overview

Marcus & Millichap is pleased to present for sale “Jackson Gate South”, which consists of three commercial buildings totaling 12,450 rentable square-feet on a 1.05 acre lot. The subject property is currently 94-percent occupied by three tenants on “Triple-Net (NNN)” Leases, and has a history of being over 90-percent occupied since its construction in 2008. Jackson Gate South is located at the signalized intersection of Highway 49 and Jackson Gate Road, just north of the intersection of Highway 88 & Highway 49. The subject property is visible from the intersection of Highway 88 and 49, and has multiple points of ingress and egress making the property easily accessible for the roughly 21,000 vehicles that pass the site each day. As a result of this strong location, multiple regional and national retailers have chosen the surrounding area for store locations. Retailers in the surrounding area include Safeway, Lowe’s, Starbucks, Carl’s Jr., Jack-In-The-Box, America’s Tire, PNC Bank, etc. (see included aerial photo). The current tenants of the property are O’Reilly Auto Parts, SpeeDee Oil Change & Auto Service, and a local Hair Salon. O'Reilly Auto and SpeeDee Lube have been operating at this site for nearly 15 years. Collectively, these three tenants occupy 100 percent of the available square footage. The initial terms of O’Reilly and SpeeDee leases expire July 31st, 2028. SpeeDee Lube had an original 20-year lease, and O'Reilly had a 15-year initial term but just renewed for another five years showing commitment to the location. Both tenants have Two Five-Year Options, each of which contain rental increases. The Hair Salon just signed a new five-year lease which expires in 2/27, and has no option to renew. Offered at $5,260,000 or a 6.15-percent cap rate, this offering presents an investor with the opportunity to acquire a low management asset with an attractive yield.