STNL Investment Property

Retail-Commercial for Sale
Catylist Listing ID: 29835045
Property Subtypes: Convenience Store, Free-Standing Building, Service Station/Gas Station
Building Size (RSF): 3,838 SF
Gross Building Area: See Agent
Gross Land Area: 28,500 SF
Sale Price: $205,000
Unit Price: $53.41 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Stripes Convenience Store
Sale Terms: Cash to Seller
Cap Rate: 10.4%
Last Updated: 5/12/2018

Overview / Comments

Free Standing Retail Building leased to the same tenant over 33 years. The property consists of 3,838 sqft which has been divided to facilitate Stripes convenience with fuel sales and tenant operated Laundry Facility. The tenant has occupied the property since 1982. This is a NNN lease (except for structure), 10.4% CAP, current term expires August 2022. Additional information available to qualified buyers.

The Tenant, originally known as Town & Country Food Stores, was purchased by Stripes Stores in 2007. Stripes Stores is a chain of 580+ convenience stores in Texas, New Mexico and Oklahoma. These locations are former Circle K and Town & Country Food Stores. Other convenience store brands they operate under include IceBox and Quick Stuff. It is one of the largest non-refining operators of convenience stores in the USA.
Many locations offer Chevron, Conoco, Exxon, Phillips 66, Shell, Texaco, Valero, and unbranded gasoline; most locations previously sold gasoline under the CITGO name, when the chain was Circle K. More than 300 locations also feature the proprietary Laredo Taco Company brand of Mexican fast food, or Country Cookin’ branded fast food. In 2014, they were acquired by Energy Transfer Partners, the parent company of the east coast gas brand Sunoco.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $3,537 (Annual)
Potential Rental Income $21,300 (Annual)
Net Operating Income $21,300 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: San Angelo
County: Tom Green
Taxing Authority: Tom Green
Tax ID/APN: 03-13800-0010-008-00
Zoning: CG-CH
Property Located Between: Corner of Pulliam and N. Schroeder Ave.
Side of Street: South
Road Type: Paved
Property Visibility: Excellent
Feet of Frontage: 140
Traffic/Vehicle Count: 6,200
Tenancy: Single Tenant
Year Built: 1975
Roof Type: Gable
Construction/Siding: Brick
Zoning Description: Split Zoning of General to Heavy Commercial
Lot Frontage: 140
Lot Depth: 190
Legal Description: Lot 8-10 except west 10' of lot 8, Block 10, Bell Addition

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,445 38,918 81,951
Median Age: 35.67 34.14 34.32
Households: 1,662 14,186 31,227
The information presented herein is provided as is, without warranty of any kind. Neither Catylist nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.