EZ Mart | Hartshorne, OK

Retail

639 Pennsylvania Avenue Hartshorne, OK
Price:
$ 1,913,043
Property Size:
2,472 sqft
Cap Rate:
5.75
Lot Size:
0.38 acres
Units:
1
Year Built:
1998
Status:
Sale

100% GUARANTEED BY GPM INVESTMENTS, LLC. – 6TH LARGEST CONVENIENCE STORE CHAIN
Founded in 2003, GPM Investments, LLC is a wholly-owned subsidiary of ARKO Corp, which is headquartered in Richmond, VA. GPM has approximately 3,000 total locations and nearly 20 different gas station brands. The company is the 6th largest convenience store chain in the United States. In 2020, GPM Investments parent company entered into a merger transaction to form ARKO Corp., which is a publicly traded company on the Nasdaq Exchange. ARKO Corp. now owns 100% of GPM Investments, LLC.

LONG TERM LEASE – 15.5 YEARS REMAINING – ABSOLUTE NNN
GPM Investments, LLC. is operating under a long-term 20 year primary lease with 15.5-years remaining. The subject property offers an absolute NNN lease structure with absolutely no landlord obligations whatsoever. The subject property also offers rental increases of 1.3x CPI every 5 years, capped at 10%.

BENEFITS OF ACCELERATED DEPRECIATION
The subject property, which is a convenience store that sells gasoline, qualifies for accelerated depreciation. A retail motor fuel outlet is an IRS term that is used to define a specific class of real property (convenience store) which is eligible for accelerated depreciation allowing the property to be depreciated on a shorter schedule than the customary 39 years for non-residential real property.

2ND LARGEST CITY IN COUNTY – RIGHT ON U.S. HWY 270
The subject property is located in beautiful Hartshorne, Oklahoma which is the second largest city in Pittsburgh county which has close to 46,000 people. Hartshorne is located just 14 miles southeast of McAlester and 40 miles south of Lake Eufaula which is the largest lake in the state of Oklahoma both in water and land. The subject property sits right on U.S. highway 270 and sees over 8,100 vehicles per day.

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

D. Andrew Ragsdale, Esq.
Senior Managing Director
918.878.9535
Ken Hedrick
Executive Managing Director
918.878.9540
Jerry Hopkins
Executive Managing Director
918.878.9536
Phillip Butts
Senior Analyst
918.878.9534
Hayden Ashley
Analyst
9188789541

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