4280 Benson HwyTucson, AZ 85706

Property Details for 4280 Benson Hwy

Year built

1971

Lot size

0.97 AC

Property size (Sq ft)

2,323 SF

Property type

Retail properties

Property subtype

Gas stations

Description

This exceptional investment opportunity presents a 2,323-square-foot Quik Mart gas station located at 4280 E Benson Hwy, Tucson, AZ 85706. Boasting a prime location on a hard corner with easy I-10 freeway access (80,000 cars daily), this property benefits from high visibility and significant traffic flow. The property sits on a 0.97-acre lot and was built in 1971. Currently operating under a NNN lease with a corporate guarantee from Southwest Convenience SPE, LLC, the lease features a substantial remaining term of 18.4 years, expiring April 30, 2043, with commencement on April 5, 2023. The lease includes 10% rent bumps every five years and multiple 4 and 5-year renewal options, ensuring consistent income growth. The current asking price is $2,783,000, representing a 6.00% cap rate and a price per square foot of $1,198.02. The property generates a Net Operating Income (NOI) of $167,000. This investment is further enhanced by its eligibility for significant tax benefits, including 60% year-one bonus depreciation or 15-year accelerated depreciation per IRS 1250 property designation. The strong tenant, Quik Mart, is the largest independent convenience store retailer in the Tucson Metropolitan Statistical Area, serving a dense population of 589,555 residents within a 10-mile radius. This presents a compelling opportunity for long-term, stable returns in a thriving market. The 100% occupancy rate underscores the property's desirability and the tenant's commitment to the location.

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.1416

Longitude

-110.902

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