Your email has been sent.
Murphy USA 140 Us Highway 321 NW 2,824 SF Retail Building Hickory, NC 28601 $2,523,000 ($893.41/SF) 5.35% Cap Rate
Investment Highlights
- Strong lease fundamentals - 8% rental increases every 5 years of initial term.
- High growth and affluent trade area - average growth rate of 1.22% annually.
- 1 Mile from Appalachian State University's Hickory Campus.
- Investment grade tenant - Murphy USA has a market cap of $10.45B with over 1,700 locations.
- Positioned in a dense industrial node. 3.7M SF of industrial space within 1-mile radius.
Executive Summary
- 10% rental increases every 5 years of initial term
- 8% rental increases every 5 years during options periods
- Absolute NNN Ground lease providing no Landlord Responsibilities
- Four (4) - Five (5) year option periods
INVESTMENT GRADE TENANT
- Murphy USA has a Market Cap of over $10.45B
- Has over 1,700 locations
- Corporate Lease with a strong investment tenant
HIGH GROWTH AND AFFLUENT TRADE AREA
- Site is positioned in high growth Hickory, NC
- The Murphy Oil is located in between three large North Carolina Cities, Charlotte, Asheville, and Winston-Salem
- The town of Hickory, NC has seen rapid growth over the past few years with an average growth rate of 1.22% annually
POSITIONED IN A DENSE INDUSTRIAL NODE
- Within a 1-mile radius of the Murphy Oil is more than 3.7MSF of industrial Space
- Nearby National Industrial Employers Include: Pepsi Bottling Group, Trane Supply, Master Tech Auto Supplies, Performance Food Group, United Beverages (Broke ground on a 67,000 Sqft expansion)
- Nearby retailers include: McDonalds, Dunkin’, Starbucks, and more
NEARBY ECONOMIC DEVELOPMENT
- Located 1-mile from the Appalachian State University - Hickory Campus
- More than 500 students attend this location
- More than 21K students were enrolled in fall 2024 at all campuses
- There are proposed plans between the city of Hickory and Appalachian State University to create an additional 30 acre satellite campus
HICKORY, NC DEMOGRAPHIC GROWTH INDICATORS
- The city of Hickory, NC is recognized as the economic center of the Catawba River Valley
- Hickory has 2 universities driving growth (LenoirRhyne and App State)
- Average household income within 5-miles of the site is over $86K and population in the same radius is over 68K
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 2,824 SF
- -
- Triple Net
- Dec 2044
Murphy USA is a U.S.-based independent retailer of motor fuel and convenience merchandise, founded in 1996 and headquartered in El Dorado, Arkansas. The company originated as part of Murphy Oil Corporation before becoming a standalone publicly traded business in 2013 following a corporate spin-off. Its retail network includes Murphy USA, Murphy Express, and QuickChek branded stores, serving customers across numerous states with fuel, beverages, snacks, and other convenience items. Over the years, the company has pursued growth through new store development, enhanced merchandising, and acquisitions such as the purchase of QuickChek, which broadened its foodservice capabilities. Murphy USA operates through a high-volume, low-margin model, strategically locating many of its sites near major retailers to capitalize on customer traffic. The organization is publicly traded under the ticker symbol MUSA.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 2,824 SF | - | Triple Net | Dec 2044 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 2793208033080000 | Improvements Assessment | $878,100 |
| Land Assessment | $272,500 | Total Assessment | $1,150,600 |
Property Taxes
Presented by
Murphy USA | 140 Us Highway 321 NW
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.