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 ~90+ percent occupied and above 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 & 49, and has multiple point of ingress & 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 & SpeeDee Lube have been operating at this site for over fifteen years. In 2022, O'Reilly recently renewed their lease early. Collectively, these three tenants occupy 94% percent of the available square footage. The initial terms of O’Reilly & SpeeDee leases expire on 08/28, and 10/28, respectively. Both tenants have Two Five-Year Options, each of which contains rental increases. The Hair Salon signed a new 5-Year Lease which expires on 2/27, and has no option to renew. Offered at $4,650,000 or a 6.59-percent cap rate, this offering presents an investor with the opportunity to acquire a low management asset with an attractive yield.