Cap Rate: 6.75%
Net Operating Income: $234,800
Square Footage: 2,294
Lot Size: 0.6 AC
This is an absolute net leased C-Store offering in Fort Wayne, IN. This Marathon Petroleum branded station has a new 20 year absolute NNN lease and calls for 1.75% annual increases in rent. The lease is corporately guaranteed by a leading 462-unit operator.
Fort Wayne is a city in the U.S. state of Indiana and the seat of Allen County, United States. Located in northeastern Indiana, the city is 18 miles (29 km) west of the Ohio border and 50 miles (80 km) south of the Michigan border.The city’s population was 270,402 as of the 2019 Census estimate making it the second-most populous city in Indiana after Indianapolis, and the 75th-most populous city in the United States. It is the principal city of the Fort Wayne metropolitan area, consisting of Allen, Wells, and Whitley counties, a combined population of 419,453 as of 2011. Fort Wayne is the cultural and economic center of northeastern Indiana. In addition to the three core counties, the combined statistical area (CSA) includes Adams, DeKalb, Huntington, Noble, and Steuben counties, with an estimated population of 615,077.