Log In/Sign Up
Your email has been sent.
1679 West State St 1,200 SF Retail Building Pleasant Grove, UT 84062 $2,612,232 CAD ($2,176.86 CAD/SF) 5% Cap Rate
Investment Highlights
- Long-Term 20-Year Absolute Net Ground Lease with Murphy Oil USA, Inc., a Fortune 500 fuel retailer
- Absolute Net Ground Lease structure eliminating all landlord responsibilities / Hard corner location State Street N 1650 W, a primary Pleasant Grove
- Four (4) Five-Year Renewal Options extending long-term occupancy potential through 2041
- Attractive 8% Rental Increases every five years providing built-in NOI growth / Approximately 10 years remaining on the primary lease term
- Outparcel Walmart Neighborhood Market & built-in daily consumer traffic / Passive investment opportunity & contractual rent growth zero LL Obligation.
- Located within the Provo-Orem MSA, one of the fastest-growing metro areas in the United States
Executive Summary
Murphy Oil USA, Inc. ranks among the largest independent fuel retailers in the United States, operating 1,772 retail fuel stations across 27 states with a strategic focus on high-volume, low-cost locations adjacent to Walmart stores. The company delivers a full range of fuel products — including gasoline, diesel, ethanol, and biodiesel — alongside convenience merchandise, positioning itself as a price leader in every market it serves. Murphy USA is publicly traded on the NYSE under the ticker symbol MUSA and is a recognized Fortune 500 company.
Founded in 1996 as a subsidiary of Murphy Oil Corporation, Murphy USA launched its first station near a Walmart location, pioneering a co-tenancy model that drives consistent, high-traffic fuel sales. In 2013, it was spun off as an independent publicly traded company, allowing it to pursue accelerated growth through new store development and strategic acquisitions, including the QuickChek convenience format. The subject property lease is a corporate obligation of Murphy Oil USA, Inc. — not a franchisee — providing investors with direct credit exposure to the parent entity.
With annual revenues of approximately $19.4 billion and a proven 30-year operating history, Murphy USA represents one of the most creditworthy tenants in the net lease investment market.
Founded in 1996 as a subsidiary of Murphy Oil Corporation, Murphy USA launched its first station near a Walmart location, pioneering a co-tenancy model that drives consistent, high-traffic fuel sales. In 2013, it was spun off as an independent publicly traded company, allowing it to pursue accelerated growth through new store development and strategic acquisitions, including the QuickChek convenience format. The subject property lease is a corporate obligation of Murphy Oil USA, Inc. — not a franchisee — providing investors with direct credit exposure to the parent entity.
With annual revenues of approximately $19.4 billion and a proven 30-year operating history, Murphy USA represents one of the most creditworthy tenants in the net lease investment market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
1,200 SF
Building Class
B
Year Built
2017
Price
$2,612,232 CAD
Price Per SF
$2,176.86 CAD
Cap Rate
5%
NOI
$130,612 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
0.97 AC
Parking
24 Spaces (20 Spaces per 1,000 SF Leased)
Frontage
210’ on West State St
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 40-457-0011 | Improvements Assessment | $924,942 CAD |
| Land Assessment | $1,023,063 CAD | Total Assessment | $1,948,004 CAD |
Property Taxes
Parcel Number
40-457-0011
Land Assessment
$1,023,063 CAD
Improvements Assessment
$924,942 CAD
Total Assessment
$1,948,004 CAD
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
1679 West State St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.