10324 Menaul Blvd NE

Very rare offering of absolute net lease with long term tenant in place PLUS an additional ground lease for the existing cell tower.  Gas station tenant has been in place 46+ years with current lease agreement running through 11/30/2029 and an additional 5 year option to extend through 11/30/2034 (extension includes 10% rent escalation). Tenant pays all expenses including property taxes, insurance, maintenance, repairs, utilities, etc.

If your client is looking for minimal landlord responsibilities with long term, stable tenancy this is the opportunity.  7.34% cap rate and up to three similar properties may be purchased as an absolute net lease portfolio.  All are Alon Gas Stations combined with DK Convenience Stores.