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Speedway - New 15-Year Term 354 Main St 700 SF Retail Building Gloucester, MA 01930 $4,761,905 ($6,802.72/SF) 5.25% Cap Rate
INVESTMENT 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.
- 10% RENT ESCALATIONS EVERY 5 YEARS: Contractual Rent Escalations At 10% Every Five Years Provide Reliable Upside Income Through Term Renewal.
- 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.
- LEGACY LOCATION WITH LONG-TERM OPERATING HISTORY: The Property Has Continuously Operated As A Gas Station For Over 50 Years.
- COMPACT, WELL MAINTAINED ASSET | 700 SF BUILDING ON 16,529 SF LOT: The Property Includes A Small Building Footprint With Generous Land.
- RARE OPPORTUNITY TO ACQUIRE A 100% BONUS DEPRECIATION ELIGIBLE PROPERTY IN NEW ENGLAND: The Property Should be Subject to 100% Bonus Depreciation.
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Retailer
- -
- -
- -
Speedway is a U.S.-based convenience store and fuel station chain founded in 1952. Headquartered in Irving, Texas, the company operates thousands of locations across 34 states, offering gasoline, diesel, and a wide range of convenience products. Originally part of Marathon Petroleum, Speedway was acquired by Seven & I Holdings, the parent company of 7-Eleven, in 2021. The brand is known for its Speedy Rewards loyalty program and services such as car washes and ATMs. Speedway ranks among the largest convenience store chains in the country, focusing on high-volume self-service stations and integrated retail operations.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Retailer | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | GLOU-000051-000057 | Improvements Assessment | $225,400 |
| Land Assessment | $372,100 | Total Assessment | $597,500 |
PROPERTY TAXES
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Speedway - New 15-Year Term | 354 Main St
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