Cap Rate: 6.00%
Net Operating Income: $208,000
This is an absolute net leased C-Store offering in Memphis, Tennessee. This Mountain Express 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.
Memphis is a city along the Mississippi River in southwestern Shelby County, Tennessee, United States. Its 2019 estimated population was 651,073, making it Tennessee’s second-most populous city behind Nashville, the nation’s 28th-largest, and the largest city proper situated along the Mississippi River. Greater Memphis is the 42nd-largest metropolitan area in the United States, with a population of 1,348,260 in 2017. The city is the anchor of West Tennessee and the greater Mid-South region, which includes portions of neighboring Arkansas, Mississippi, and the Missouri Bootheel. Memphis is the seat of Shelby County, Tennessee’s most populous county. One of the more historic and culturally significant cities of the southern United States, Memphis has a wide variety of landscapes and distinct neighborhoods.