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Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-Year Ground Lease)

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Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-Year Ground Lease) Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 1 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) CONTENTS Executive Summary………….. 3 Investment Highlights………. 4 Location Maps………………….. 5-7 Photos………………………………. 8 Property Description………… 9 Lease Summary………………… 10 Tenant Overview………………. 11 Market Overview……………… 12 Demographics………………….. 13 Brokerage Services Info…….. 14 Disclaimer For Information: The information contained herein was obtained from sources believed reli- able, however, Herrin Commercial Real Estate makes no guarantees, war- Sharon Herrin ranties or representations as to the completeness or accuracy thereof. [email protected] The presentation of this property is submitted subject to errors, omissions, 972-980-0400 change of price prior to prior sale or lease or withdrawal without notice. www.herrincommercial.com 2 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) EXECUTIVE SUMMARY Property: Murphy Express (Murphy Oil USA) Subject property is leased to Murphy Oil USA, a publicly- Gas Station and Convenience Store traded US corporation that operates over 1,400 gas sta- tion / convenience stores in 26 states. The property is Location: NEQ of Woodbridge Pkwy and ground leased to Murphy until 2030 and beyond that the State Highway 78 in Sachse, Texas tenant has five (5) renewal options of five (5) years each. Address: 8020 Woodbridge Parkway The lease is an absolute NNN lease so landlord has no re- Purchase Price: $1,550,000 sponsibilities thus creating a safe, passive income stream for the right investor. The property is located in Sachse, a NOI (2020 proj): $72,800 flourishing, high-growth suburb north and east of the Dal- Cap Rate: 4.70% las metroplex. Traffic counts in the local area exceed Lease Type: Ground Lease—Absolute NNN 35,000 vehicles per day on State Highway 78 and Wood- Lease Term: 15 years with five (5) options to bridge Parkway and median Household income within a 5- extend for five (5) years each mile radius exceeds $120,000 per year. Nearby retailers in- clude: Walmart, Enterprise, Sherwin-Williams, Spec’s, 7- Lease Start : June, 2015 Eleven, Church’s, Verizon, GNC and LA Fitness. Located a Lease Expiration: June, 2030 few miles north and south of Woodbridge on Highway 78 are many other retailers such as Kroger, Tom Thumb, CVS, Firestone, McDonald’s and others. For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 3 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) INVESTMENT HIGHLIGHTS 15-year lease with 11+ years remaining in original term. Lease includes five (5) renewal options of five (5) years each. Tenant, a US corporation, operates over 1,400 retail fueling stations in 26 states. The Murphy Express at this location is one of their 250 large-format facilities that offers a larger array of convenience store products and more fueling lanes than the original Murphy Oil format Located within rapidly developing retail sector of Sachse in Collin county near the intersection of State Highway 78 and Woodbridge Pkwy Adjacent to large and growing single-family and multi-family communities High traffic counts on all adjacent roads and highways Walmart Super Center directly across Woodbridge Pkwy is a major draw / traffic generator for all area merchants Texas is an income-tax-free state providing ideal location for 1031 Exchange asset For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 4 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) LOCATION MAPS—Dallas Northern Suburbs Subject Property For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 5 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) LOCATION MAPS—Regional FRISCO US 75 Central Expwy Lake Lavon PLANO State Hwy 78 MURPHY WYLIE Dallas North Pres George Tollway Bush Tpk Subject Property CARROLLTON RICHARDSON SACHSE Lake Ray ADDISON Hubbard ROCKWALL GARLAND DALLAS I-635 LBJ ROWLETT Fwy Interstate Hwy 30 For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 6 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) LOCATION MAPS — Local Neighborhood Subject Property For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 7 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) PHOTOS New Retail Development For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 8 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) PROPERTY DESCRIPTION Subject property, in NEQ of Woodbridge Parkway and State Highway 78, is located in the growing northern submarket of Sachse, Texas. It is located directly across Woodbridge Parkway from WalMart Super Center which has 305 employees. Retailers currently adjacent to Murphy Express are Enterprise Rental Car; Marvel Carwash; Verizon Wireless; Great Clips; Toplite Nail Spa; General Nutrition; Travis Rottman, DDS; and Massage Bliss & Cryo. The Murphy Express facility was constructed in 2015, is situated on .956 acres of land and has multiple access lanes from Woodbridge Parkway. Drive area pavement and curbs are all concrete. Additional retail and residential development continues at a fast pace in and around this quadrant. Zoning for this property is “PD-19” Planned Development District For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 9 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) LEASE SUMMARY Tenant Name: Murphy Oil USA, Inc Base Lease Term: 15 years Property Location: 8020 Woodbridge Parkway Renewal Options: Five (5) options of five Sachse, Texas 75048 (5) years each Rent Commencement: June 6, 2015 Annual Base Rent: Yrs 1-5 $70,000 Yrs 6-10 $75,600 Lease Expiration: June 30, 2030 Yrs 11-15 $81,648 Lease Type: 15-year Ground Lease, Annual Option Rent: Yrs 16-20 $88,180 absolute NNN Yrs 21-25 $95,234 Yrs 26-30 $102,853 Landlord Responsibilities: None Yrs 31-35 $111,081 Security Deposit: None Yrs 36-40 $119,968 For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 10 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) TENANT OVERVIEW Murphy USA is a publicly traded (NYSE: MUSA) American corporation operating a chain of retail gas stations that are primarily located in proximity to Walmart stores. It was founded as a spin-off of Murphy Oil in 2013. In 2018, it was ranked 279 on the Fortune 500 list of the largest United States corporations by revenue. Murphy USA operates more than 1,400 retail fueling stations in 26 US states. Over 1,100 locations are located near Walmart stores. As part of the company's new direction, more than 240 stations, also known as Murphy Express stores, are located independently. Murphy Express sites are typically large-format facilities (1,200- 3,400+ square feet) that offer a larger array of products and more fueling lanes than the original format. Most Murphy Express locations offer coffee, fountain and frozen drinks, free ATMs, and many other conven- ience items. Almost all stations feature a minimum of 12 fuel dispensing positions, assuring customers a quick and efficient fuel stop. And of course, customers will still recognize the competitive prices that have become the hallmark of Murphy USA. For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 11 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) MARKET OVERVIEW Subject property is surrounded by the high growth markets of Rowlett, North Garland, Wylie and Murphy. The major thoroughfare in the City of Sachse is State Highway 78 where traffic counts exceed 40,000 vehicles per day. Retailers in the immediate area include Spec’s, 7-Eleven, CVS, Walgreens, as well as Dollar General. President George Bush Turnpike and Firewheel Town Center are 3.5 miles to the southwest with over 125 re- tail stores including Macy’s, Dillard’s, AMC Theatres, and many others. The towns of Wylie and Murphy are located to the north and east where retailers Target, Michaels, Office Depot and many others are located. The eastern expansion of the President George Bush Turnpike will offer a multitude of new opportunities for busi- nesses and residents in Sachse. The newly completed widening of State Highway 78 through the city has also expanded the opportunity for new businesses to make Sachse home. Subject Property For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 12 Murphy Express 8020 Woodbridge Parkway Sachse, Texas 75048 (15-year Ground Lease) DEMOGRAPHICS — Population, Household and Income Data(1, 3, 5 mile radii) POPULATION 1-Mile 3-Miles 5-Miles 2010 Population 5,975 63,103 143,959 2019 Population(Esri forecasts) 9,539 80,688 182,775 2024 Population(Esri 5-year projection) 11,189 90,724 206,010 2019 Median Age 35.0 34.7 35.5 NUMBER OF HOUSEHOLDS 1-Mile 3-Miles 5-Miles 2010 Households 2,139 20,169 45,961 2019 Households 3,278 25,420 57,288 2024 Households (Esri 5-year projection) 3,799 28,372 64,267 2019 Average Household Size 2.91 3.17 3.19 INCOME 1-Mile 3-Miles 5-Miles 2019 Average Household Income $117,743 $114,053 $119,925 2024 Avg HH Income (Esri 5-year projection) $134,665 $129,890 $133,844 2019 Median Household Income $103,599 $100,634 $100,350 2019 Per Capita Income $39,859 $35,976 $37,720 Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024 For Information: Sharon Herrin [email protected] 972-980-0400 www.herrincommercial.com 13 Texas Real Estate Commission Information About Brokerage Services .
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