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Arco Am/Pm New 15 Year Absolute Nnn Lease Signalized Hard Corner

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Arco Am/Pm New 15 Year Absolute Nnn Lease Signalized Hard Corner INVESTMENT OPPORTUNITY ARCO AM/PM NEW 15 YEAR ABSOLUTE NNN LEASE SIGNALIZED HARD CORNER OCEANSIDE, CA OFFERED AT: $6,400,000 | 5.25% CAP OFFERED AT $2,027,000 | 6% CAP Actual Property EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW TABLE OF CONTENTS EXECUTIVE SUMMARY 4 Executive Summary 5 Investment Highlights 6 Lease Summary & Rent Overview 7 Lease Abstract PROPERTY INFORMATION 9 Location Maps 10 Property Photos 11 Aerials TENANT OVERVIEW 17 About Arco AM/PM AREA OVERVIEW 19 Oceanside Overview 20 San Diego County Overview 21 Demographics Confidentiality Agreement & Disclosures EXCLUSIVELY LISTED BY RYAN BARR RYAN BENNETT Principal Principal 760.448.2446 760.448.2449 TODD WALLER [email protected] [email protected] Principal 608.327.4001 [email protected] Actual Property ARCO AMPM | Oceanside, CA | 2 EXECUTIVE SUMMARY ARCO AM/PM Oceanside, CA Actual Property EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW • Offering Summary • Investment Highlights Lease Summary & Rent Schedule Lease Abstract -- OFFERING SUMMARY -- INVESTMENT HIGHLIGHTS PROPERTY OVERVIEW Offering Price: $6,400,000 Address: 1990 Oceanside Blvd Oceanside, CA 92054 Net Operating Income: $336,000 Property Size: 2,417 SF Cap Rate: 5.25% Land Size: 22,651 SF Price/SF: $2,647 Ownership: Fee Simple Lease Type: Absolute NNN Year Built: 1986 Lee & Associates is pleased to exclusively offer for sale the fee simple interest in an Arco AM/PM property located in the city of Oceanside, CA (the “Property”). Built in 1986, the building consists of a freestanding 2,417-square-foot retail building with an Arco gas station with eight (8) gas pumps. The subject property is leased to Arco AMPM, known for its low-priced gasoline and quick-service convenience stores. Arco is owned by the Marathon Petroleum Company, a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates more than 1,000 long-term supply contracts for direct dealer locations, primarily in Southern California, and largely under the ARCO brand. In 2019, the company reported revenues of $1.6 billion. The subject property is leased to an experienced Arco AM/PM operator and includes a strong personal lease guaranty. The new 15 year absolute NNN lease commenced in June 2020. The lease features 3% annual rent increases starting in Year 6 in the Primary Term and throughout the (2) 5-year Options, providing an investor with an ideal passive investment with outstanding rent growth. The site is strategically located across from the Sprinter Coaster station, the hybrid rail train that runs east and west between Escondido and Oceanside. With average weekday ridership of over 8,300 passengers per day, this popular commuter system sees a total of 2.5 million passengers each year. This translates into heavy walk-in & gas-up traffic at this location, resulting in sales of approximately $10 million. The subject property is located on the hard corner signalized intersection of Oceanside Blvd & Crouch St, offering outstanding visibility and access to combined traffic counts of nearly 53,000 CPD. Oceanside Blvd is a major east- west traffic thoroughfare carrying commuters to/from Interstate 5 less than one mile away. As the major north- south travel corridor through the state of California, Interstate 5 offers direct access to San Diego 38 miles to the south and north to Orange County. The subject property is located Oceanside, in North San Diego County, California. Perfectly situated between metropolitan San Diego and Los Angeles, Oceanside is centrally located in the heart of Southern California. Manufacturing, distribution, tourism and agriculture remain the region’s top industries, but in recent years, Oceanside has become home to biotech industries that are among the area’s fastest growing business sectors. North Oceanside is the home of Camp Pendleton, the largest U.S. Marine Corps Amphibious Training Base on the West Coast, and the largest employer in North San Diego County for more than 60 years. Camp Pendleton is home to more than 38,000 military personnel but sees a daytime population of 70,000 military and civilian personnel. Actual Property ARCO AMPM | Oceanside, CA | 4 EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW Offering Summary • Investment Highlights • Lease Summary & Rent Schedule Lease Abstract -- INVESTMENT HIGHLIGHTS -- ARCO AMPM: NEARLY 1,100 LOCATIONS IN WESTERN U.S. • PART OF MARATHON PETROLEUM COMPANY, LEADING ENERGY COMPANY WITH REPORTED REVENUES OF $1.6B (2019) The subject property is leased to Arco AMPM, known for its low-priced gasoline and quick-service convenience stores. Arco is owned by the Marathon Petroleum Company, a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates more than 1,000 long-term supply contracts for direct dealer locations, primarily in Southern California, and largely under the ARCO brand. In 2019, the company reported revenues of $1.6 billion. The subject property is leased to an experienced Arco AM/PM operator and includes a strong personal lease guaranty. HARD CORNER SIGNALIZED INTERSECTION • DENSE TRAFFIC COUNTS (52,500+ CARS PER DAY) • LESS THAN ONE MILE FROM ON/OFF RAMP TO INTERSTATE 5 • DIRECT ACCESS TO DOWNTOWN SAN DIEGO & ORANGE COUNTY The subject property is located on the hard corner signalized intersection of Oceanside Blvd & Crouch St, offering outstanding visibility and access to combined traffic counts of nearly 53,000 CPD. Oceanside Blvd is a major east- west traffic thoroughfare carrying commuters to/from Interstate 5 less than one mile away. As the major north- south travel corridor through the state of California, Interstate 5 offers direct access to San Diego 38 miles to the south and north to Orange County. NEW 15 YEAR ABSOLUTE NNN LEASE • PASSIVE INVESTMENT • ANNUAL 3% RENT INCREASES (STARTING YEAR 6) The new 15 year absolute NNN lease commenced in June 2020. The lease features 3% annual rent increases starting in Year 6 in the Primary Term and throughout the (2) 5-year Options, providing an investor with an ideal passive investment with outstanding rent growth. LOCATED ACROSS FROM SPRINTER RAIL STATION • AVG WEEKDAY RIDERSHIP OF 8,300 PASSENGERS (2.5 MILLION RIDERS EACH YEAR) • STRONG DRIVER OF FOOT & AUTO TRAFFIC • LENDS TO SUCCESS OF LOCATION The site is strategically located across from the Sprinter Coaster station, the hybrid rail train that runs east and west between Escondido and Oceanside. With average weekday ridership of over 8,300 passengers per day, this popular commuter system sees a total of 2.5 million passengers each year. This translates into heavy walk-in & gas- up traffic at this location, resulting in sales of approximately $10 million. LOCATED IN THE CITY OF OCEANSIDE • CENTRALLY LOCATED BETWEEN SAN DIEGO & LOS ANGELES COUNTIES • HOME OF CAMP PENDLETON, NORTH SAN DIEGO COUNTY’S LARGEST EMPLOYER Perfectly situated between metropolitan San Diego and Los Angeles, Oceanside is centrally located in the heart of Southern California. Manufacturing, distribution, tourism and agriculture remain the region’s top industries, but in recent years, Oceanside has become home to biotech industries that are among the area’s fastest growing business sectors. North Oceanside is the home of Camp Pendleton, the largest U.S. Marine Corps Amphibious Training Base on the West Coast, and the largest employer in North San Diego County for more than 60 years. Camp Pendleton is home to more than 38,000 military personnel but sees a daytime population of 70,000 military and civilian personnel. The facility’s Marines, Sailors and their families rely on the surrounding communities for retail goods and services not available on Base, creating an outstanding need for employment, housing and resources in neighboring Oceanside and other nearby cities. ARCO AMPM | Oceanside, CA | 5 EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW Offering Summary Investment Highlights • Lease Summary & Rent Schedule • Lease Abstract -- LEASE SUMMARY -- -- RENT SCHEDULE -- LEASE INFORMATION LEASE TERM TENANT: Highland Carco, Inc. dba ARCO AM/PM TERM START DATE END DATE NOI/YR NOI/MO GUARANTOR: Highland Cargo, Inc. (Franchisee) Years 1 - 5 7/14/2020 7/13/2025 $336,000 $28,000 LOCATIONS OPERATED: (3) 7-Elevens, (1) 76 Gas Station Year 6 7/14/2025 7/13/2026 $346,080 $28,840 BUILDING SIZE: 2,417 SF Year 7 7/14/2026 7/13/2027 $356,462 $29,705 LOT SIZE: 22,651 SF Year 8 7/14/2027 7/13/2028 $367,155 $30,596 RENT COMMENCEMENT: July 14, 2020 Year 9 7/14/2028 7/13/2029 $378,170 $31,514 LEASE EXPIRATION: July 13, 2035 Year 10 7/14/2029 7/13/2030 $389,515 $32,460 BASE TERM: 15 Years Year 11 7/14/2030 7/13/2031 $401,200 $33,433 REMAINING LEASE TERM: 15 Years Year 12 7/14/2031 7/13/2032 $413,236 $34,436 OPTIONS TO RENEW: (2) 5-Year Options Year 13 7/14/2032 7/13/2033 $425,633 $35,469 RENT INCREASES: 3% Annual Increases (starting Year 6) in Primary Term & Options Year 14 7/14/2033 7/13/2034 $438,402 $36,533 LEASE TYPE: Absolute NNN Lease Year 15 7/14/2034 7/13/2035 $451,554 $37,630 LANDLORD RESPONSIBILITIES: None OPTION PERIODS - (2) 5-YEAR OPTIONS ANNUAL RENT: $336,000 + NNN Expenses Option 1-Year 1 7/14/2035 7/13/2036 $465,100 $38,758 Year 2 7/14/2036 7/13/2037 $479,053 $39,921 Year 3 7/14/2037 7/13/2038 $493,424 $41,118 Year 4 7/14/2038 7/13/2039 $508,226 $42,352 Year 5 7/14/2039 7/13/2040 $523,473 $43,622 Option 2-Year 1 7/14/2040 7/13/2041 $539,177 $44,931 Year 2 7/14/2041 7/13/2042 $555,352 $46,279 Year 3 7/14/2042 7/13/2043 $572,012 $47,667 Year 4 7/14/2043 7/13/2044 $589,172 $49,097 Year 5 7/14/2044 7/13/2045 $606,847 $50,570 ARCO AMPM | Oceanside, CA | 6 EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW Offering Summary Investment Highlights Lease Summary & Rent Schedule • Lease Abstract • -- LEASE ABSTRACT -- 8 - Tenant shall make all arrangements for installation, upgrade or repair and pay for all gas, electricity, water, telephone, Internet, trash disposal, and any and all other utilities and services Utilities: provided or that may be provided to the Premises during the Term of this Lease.
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