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Sinclair | 15yr NNN w/ Increases 1972 E 700 S 4,698 SF Retail Building Clearfield, UT 84015 $6,750,000 ($1,436.78/SF) 6.30% Cap Rate
INVESTMENT HIGHLIGHTS
- 15 Years Remaining | Options To Extend | Scheduled Increases
- Near On/Off Ramps of I-15 (114,200 VPD) | Hill Air Force Base | Signalized, Hard Corner Intersection (Combined 38,900 VPD)
- NNN | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area | Salt Lake City MSA |Direct Consumer Base
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in premier, long term NNN, Sinclair Gas Station investment property located in Clearfield, Utah. The tenant, Clearfield Sinclair Operating, LLC, has approximately 15 years remaining on its lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases in years 8, 11, and 16 throughout the remainder of the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. The Sinclair brand is a highly reputable brand in the energy business with over 1,600 stations.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,698 SF
Building Class
B
Year Built
2020
Price
$6,750,000
Price Per SF
$1,436.78
Cap Rate
6.30%
NOI
$424,976
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.48 AC
Zoning
C-2 - Commercial
Parking
17 Spaces (3.62 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Sinclair is committed to creating products that help fill up the lives of their customers, their team and their country. A privately held, vertically integrated oil company, they're involved in all aspects of their industry, from oil and gas exploration to motor fuel distribution. They have executive offices in Salt Lake City, Utah; two refineries in Wyoming; and over 1,500 branded Sinclair stations in 29 states.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 09-419-0101 | Improvements Assessment | $787,078 |
| Land Assessment | $978,204 | Total Assessment | $1,765,282 |
PROPERTY TAXES
Parcel Number
09-419-0101
Land Assessment
$978,204
Improvements Assessment
$787,078
Total Assessment
$1,765,282
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Sinclair | 15yr NNN w/ Increases | 1972 E 700 S
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