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Murphy USA 140 Us Highway 321 NW 2,824 SF Retail Building Hickory, NC 28601 $3,521,906 CAD ($1,247.13 CAD/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
Since 1996, Murphy USA has been the place people go to save on the gas that fuels their lives. From the lowest prices on gas to exclusive deals on your family’s favorite snacks and drinks, they’re always going the extra mile to help you buy smarter and drive farther. Welcome to Murphy USA. Murphy USA stations are uniquely positioned near the parking lots of one of the world’s largest retailers, Walmart. Murphy Express are stand-alone locations, typically larger than a Murphy USA. Most Murphy Express locations offer coffee, fountain and frozen drinks, free ATMs, and many other convenience items. QuickChek is reinventing Fresh Convenience. Their team members are local to the communities they serve and are passionate about providing the very best in fresh.
| 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 | $1,233,160 CAD |
| Land Assessment | $382,685 CAD | Total Assessment | $1,615,845 CAD |
PROPERTY TAXES
Presented by
Murphy USA | 140 Us Highway 321 NW
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