For Sale
$2,492,138

120 Montmorenci RdRidgway, PA 15853

High-yield, 20-year NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a thriving, 2,600 square foot gas station in Ridgway, Pennsylvania. Located at 120 Montmorenci Rd, this property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $199,371. The property sits on a 0.48-acre lot and benefits from high daily traffic counts exceeding 13,906 vehicles. The current tenant, Fuel On, is a growing 36-unit operator with a strong financial history, providing a secure and reliable income stream. The 20-year absolute NNN lease includes annual rent bumps of 2.5%, effectively hedging against inflation. The lease structure is exceptionally favorable to the landlord, with the tenant responsible for all property maintenance, insurance, and taxes, creating a truly passive investment. Four 5-year lease options further enhance the long-term stability of this investment. The property also qualifies for accelerated depreciation and bonus depreciation, offering significant tax advantages. Financial records for the past three years are available for review, showcasing the consistent profitability of this location. This is a rare opportunity to acquire a high-performing, low-maintenance asset with significant long-term growth potential. The asking price is $2,492,138, representing a price per square foot of $958.51.

Highlights

  • Fee-simple ownership of a 2,600 SF gas station in Ridgway, PA, with an 8% cap rate and $199,371 NOI.
  • Lease guaranteed by a growing, 36-unit operator with available corporate financials.
  • Property boasts a strong financial history with three years of financials available for review.
  • 2.5% annual rent increases protect against inflation.
  • 20-year absolute NNN lease; tenant responsible for all property expenses.
  • Qualifies for accelerated and bonus depreciation (60% in Year 1).

Property Details for 120 Montmorenci Rd

Property type
Retail properties, Gas stations
Square Feet
2,600 SF
Lot Size (sq. ft)
20,909 SF

Location Insight

City
Ridgway
County
Elk
State
Pennsylvania
Latitude
41.42147025
Longitude
-78.73899582
120 Montmorenci Rd, Ridgway, Pennsylvania

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120 Montmorenci Rd
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