6099 Gulfway Dr - Service Station FOR SALE
Groves, TX 77619 |
$4,400,000 USD
678-713-4959
6099 Gulfway Dr
Groves, TX 77619
HIGHLIGHTS
- Pinnacle Oil & Gas is a familyowned and operated business. Pinnacle operates 70+ locations.
- Tenant is responsible for taxes, insurance, maintenance, roof, structure, HVAC, utilities, and all operating expenses.
- This site qualifies for attractive depreciation benefits, providing additional value to a stable, longterm net lease investment.
- This purpose built 3,956 SF convenience store, selling Chevron Fuel, is historically a revenue driving store and a key component.
- ~13 years remaining on an original 15-year lease with 10% rental increases every 5 years and 4 x 5 year renewal options, creating durable income.
- Close proximity to several major oil refineries, creating a large workforce population and a need for convenience store services.
OVERVIEW
Sands Investment Group is pleased to present the exclusive listing for a Pinnacle Oil & Gas Triple Net Lease C-Store located at 6099 Gulfway Drive in Groves, TX 77619. The approximately 4,000 SF convenience store sits on over 0.50-acre parcel of land. This convenience store is subject to a 15-year Triple Net Lease (NNN) lease, which commenced 12/23/2023. The current annual rent is $330,000 and has a scheduled increase of 10% in just under three years.
In Cooperation With Sands Investment Group Austin, LLC - Lic. #9004706 BoR: Max Freedman - Lic. TX #644481
FOR SALE DETAILS
PRICE
$4,400,000 USD
PRICE/SF
$1,112 USD /SF
CAP RATE
7.5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Pinnacle Oil & Gas - Groves, TX
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Service Station
ADD'L SUBTYPES
Convenience Store, Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2000
SPRINKLERS
-
PARKING SPACES
9
LAND DETAILS
LAND ACRES
0.52 AC
LAND SF
22,651 SF
ZONING
None
APN/PARCEL ID
031950-000-002800-00000
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678-713-4959
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678-713-4959
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