For Sale
$4,102,000

900 Sunset DrJohnson City, TN 37604

High-yield, NNN-leased convenience store.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a fee-simple ownership of a thriving convenience store and gas station located at 900 Sunset Dr, Johnson City, TN 37604. The property, built in 1996 and renovated in 2021, boasts a substantial 4,348 square feet on a 2.44-acre lot. Currently leased to GPM Investments (dba Roadrunner), a credit-rated tenant with an S&P rating of B+ and NASDAQ symbol ARKO, this property offers an absolute NNN lease with zero landlord responsibilities. The 15-year lease, commencing April 30, 2022, and expiring April 29, 2037, has a remaining term of approximately 12.4 years, providing significant long-term stability. The lease includes four 5-year renewal options and features a 10% rent increase every five years, ensuring consistent NOI growth and inflation protection. The property generates a substantial NOI of $246,149, resulting in a compelling 6.00% cap rate. The asking price is $4,102,000. This is an ideal, management-free investment opportunity in a state with no state income tax. The property's APN is 090045D A 03100. This is a turnkey investment with a strong tenant and a proven track record. The tenant is responsible for all common area maintenance (CAM), taxes, and insurance.

Highlights

  • 13+ years remaining on a 15-year lease.
  • Leased to GPM Investments (Roadrunner), a top-6 national convenience store chain.
  • 10% rental increases every 5 years.
  • Absolute NNN lease; fee simple ownership; no landlord responsibilities; located in a state with no state income tax.

Property Details for 900 Sunset Dr

Property type
Retail properties, Grocery and convenience stores
Year Built/Renovated
1996/2021
Lot Size (sq. ft)
106,286 SF

Location Insight

City
Johnson City
County
Washington
State
Tennessee
Latitude
36.3335394
Longitude
-82.3898702
900 Sunset Dr, Johnson City, Tennessee

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
900 Sunset Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message