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Auto Service - Gas-Conv

Kangaroo Express Sale Leaseback

1030 W South Blvd, Montgomery, AL 36105

Listing Price: $3,888,900

Cap Rate
5.40%
Tenant Name
Kangaroo Express
Gross SF
2,982
Guarantor
Franchisee Guarantee
Rentable SF
2,982
Price/Gross SF
$1,304.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$70.42

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Interstate location directly off I-65 (±72,046 VPD) - Strategically positioned as first gas/c-store on west side of I-65 - Limited gas/c-store competition in immediate trade area - Flat topography with strong visibility - Multiple points of ingress/egress - Strong traffic counts of ±18,410 VPD along W. South Blvd. - Large canopy with 16 fueling stations - Tenant to invest ±$250k on c-store remodel - Endcap of c-store subleased to Subway › Lowers tenant’s occupancy costs & drives more traffic to site › Tenant to provide a master lease OPTIMAL LEASE STRUCTURE - Attractive 20-year sale-leaseback - Four (4), 5-year renewal options - 1.5% rent escalations every year throughout entire lease - Triple net (NNN) lease with NO landlord responsibilities - Tax advantages with accelerated & bonus depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Alimentation Couche-Tard franchisee - Expanding ±135 unit operator across 6 states (AL, AR, GA, LA, SC, TN) - 26+ year operating history - Alimentation Couche-Tard is an international brand with 15,000+ locations in 20 countries (corporate) MONTGOMERY, AL ADVANTAGE - Home to Alabama’s state capital - Gross Metro Product of $18.6 B (2019) - Low cost of living at 8% below national average (per Forbes) - Major industries include education and defense - Home to Maxwell Air Force Base › Educational and technological center of the US Air Force › Average fiscal economic impact of ±$2.6 B annually › Mission critical military installation as home to Air University › 17,000+ military, civil service, and contracted personnel & 34,000 students - Other Top Employers › Baptist Health: ±4,300 employees › Hyundai Motor Manufacturing Alabama, LLC: ±3,500 employees › Assembly plant for Sonata and Elantra sedans and Santa Fe SUV › HMMA and its suppliers have an annual economic impact of $4.82 B to the State of AL’s economy › ALFA Insurance Companies: ±2,500 employees

Investment Highlights

  • - Interstate location directly off I-65 (±72,046 VPD)
  • - Triple net (NNN) lease with NO landlord responsibilities
  • - Tax advantages with accelerated & bonus depreciation due to fee simple ownership

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Auto Service - Gas-Conv

Kangaroo Express Sale Leaseback

Listing Price: $3,888,900

Cap Rate
5.40%
Tenant Name
Kangaroo Express
Gross SF
2,982
Guarantor
Franchisee Guarantee
Rentable SF
2,982
Price/Gross SF
$1,304.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$70.42

Investment Highlights

  • - Interstate location directly off I-65 (±72,046 VPD)
  • - Triple net (NNN) lease with NO landlord responsibilities
  • - Tax advantages with accelerated & bonus depreciation due to fee simple ownership

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Interstate location directly off I-65 (±72,046 VPD) - Strategically positioned as first gas/c-store on west side of I-65 - Limited gas/c-store competition in immediate trade area - Flat topography with strong visibility - Multiple points of ingress/egress - Strong traffic counts of ±18,410 VPD along W. South Blvd. - Large canopy with 16 fueling stations - Tenant to invest ±$250k on c-store remodel - Endcap of c-store subleased to Subway › Lowers tenant’s occupancy costs & drives more traffic to site › Tenant to provide a master lease OPTIMAL LEASE STRUCTURE - Attractive 20-year sale-leaseback - Four (4), 5-year renewal options - 1.5% rent escalations every year throughout entire lease - Triple net (NNN) lease with NO landlord responsibilities - Tax advantages with accelerated & bonus depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Alimentation Couche-Tard franchisee - Expanding ±135 unit operator across 6 states (AL, AR, GA, LA, SC, TN) - 26+ year operating history - Alimentation Couche-Tard is an international brand with 15,000+ locations in 20 countries (corporate) MONTGOMERY, AL ADVANTAGE - Home to Alabama’s state capital - Gross Metro Product of $18.6 B (2019) - Low cost of living at 8% below national average (per Forbes) - Major industries include education and defense - Home to Maxwell Air Force Base › Educational and technological center of the US Air Force › Average fiscal economic impact of ±$2.6 B annually › Mission critical military installation as home to Air University › 17,000+ military, civil service, and contracted personnel & 34,000 students - Other Top Employers › Baptist Health: ±4,300 employees › Hyundai Motor Manufacturing Alabama, LLC: ±3,500 employees › Assembly plant for Sonata and Elantra sedans and Santa Fe SUV › HMMA and its suppliers have an annual economic impact of $4.82 B to the State of AL’s economy › ALFA Insurance Companies: ±2,500 employees

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

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