354 Main St - Service Station FOR SALE
Gloucester, MA 01930 |
354 Main St
Gloucester, MA 01930
HIGHLIGHTS
- 15-YEAR ABSOLUTE-NET LEASE EXTENSION: The Lease Was Recently Extended By 15 Years In April 2025 Showing How Committed The Tenant Is To This Location.
- LEGACY LOCATION WITH LONG-TERM OPERATING HISTORY: The Property Has Continuously Operated As A Gas Station For Over 50 Years.
- 10% RENT ESCALATIONS EVERY 5 YEARS: Contractual Rent Escalations At 10% Every Five Years Provide Reliable Upside Income Through Term Renewal.
- COMPACT, WELL MAINTAINED ASSET | 700 SF BUILDING ON 16,529 SF LOT: The Property Includes A Small Building Footprint With Generous Land.
- BEST-IN-CLASS OPERATOR BACKED BY THE LARGEST GAS/CONVENIENCE STORE CHAIN IN THE WORLD: Speedway, LLC Is A Wholly Owned Subsidiary of 7-Eleven, Inc.
- RARE OPPORTUNITY TO ACQUIRE A 100% BONUS DEPRECIATION ELIGIBLE PROPERTY IN NEW ENGLAND: The Property Should be Subject to 100% Bonus Depreciation.
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
Speedway - New 15-Year Term
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Service Station
ADD'L SUBTYPES
Convenience Store, Service Station
TOTAL BUILDING SIZE
700
STORIES
1
YEAR BUILT
1976
SPRINKLERS
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PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
GLOU-000051-000057
