Royal Farms | 17 Yrs Remain on NNN GL | 10% Bumps

Listing Royal Farms | 17 Yrs Remain on NNN GL | 10% Bumps Price:$3,141,818 Status:For Sale On behalf of the ownership, is pleased to exclusively offer for sale a ground leased interest in this Royal Farm convenience store and fueling station in Newark, Delaware. The tenant, Two Farms Inc. doing business as Royal Farms, is subject to a new 20-year ground lease with a ten percent rental increase every five years of the base term. The subject property consists of 5.69 acres and is situated along the highly trafficked Pulaski Highway (Route 40) at its intersection with Pleasant Valley Road, which combine to have vehicle counts over 50,000 per day. The site has excellent visibility and full movement access off Route 40. Furthermore, the site will share cross easements with a newly constructed Concord Pet Supplies location as well as an additional pad which would be ideal for a drug store or bank. Privately owned and operated, Royal Farms is headquartered in Baltimore, Maryland. Founded in 1959, the company has evolved from a local convenience store chain into a regionally recognized brand with more than 200 locations in Maryland, Virginia, Delaware and Pennsylvania. Their prototype is very similar to that of Sheetz or Wawa, with a convenience store ranging from 4,000 to 5,600 SF and 8-10 multi-product fuel dispensers under canopy at a prime signaled corner pad with high traffic counts. Royal Farm’ s convenience stores also have a similar eat in section in its store and a car wash on the pad. It is estimated that each facilitate costs roughly $2,500,000 to construct and fixture which should give the potential purchaser comfort of the tenant’ s investment in the leasehold. Furthermore, when coupled with the brand’ s expanding presence and expansion strategy, the company will be well positioned for decades to come and a leader in the convenience/fuel industry.

Royal Farms | 17 Yrs Remain on NNN GL | 10% Bumps