140 Gardenia Dr Cheyenne, WY 82009
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High-yield NNN ground lease, strong tenant.
Property size:
4,282 SFProperty Features for 140 Gardenia Dr
General Information
- Property type
- Restaurants
- Square Feet
- 4,282 SF
- Lot Size
- 57,935 SF
Building Details
- Year Built
- 2010
- Buildings
- 1
Listing Agency: Bang Realty Listing Agent: Brian Brockman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 4,282 square foot Maverik gas station and convenience store in Cheyenne, Wyoming. Located on a 1.33-acre lot at a hard corner with high visibility near I-25, this property boasts 10 gas pumps and a 100% occupancy rate. The absolute NNN ground lease with a corporate guarantee provides significant security, featuring a remaining term of 17.1 years with ten 5-year renewal options. Rent increases by 7% every 5 years, offering a hedge against inflation. Built in 2010, the property generates a substantial NOI of $115,560, representing a 4.50% cap rate and a price per square foot of $599.72. The asking price is $2,568,000. The property benefits from excellent demographics, with over 67,585 people within a 5-mile radius and an average household income exceeding $109,000 within 1 mile. Maverik, a leading convenience store brand with over 800 locations, is known for its high-quality food offerings and strong customer loyalty program. This investment offers a compelling combination of strong tenant, long-term lease, and attractive financial metrics. A 7% rent increase is scheduled for the end of 2026.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Maverik Adventure's First ...
Gas Station
Location Insight
- Map
- Local Demand
- City
- Cheyenne
- County
- Laramie
- State
- Wyoming
- Longitude
- -104.8274017312
- Latitude
- 41.182221534485
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FAQs
What type of property is this?
Restaurant - High-yield NNN ground lease, strong tenant.
Where is this restaurant located?
The property is located at 140 Gardenia Dr Cheyenne, WY.
What is the asking price?
The asking price for this property is $2,568,000.
What are key features of this property?
This property features: Maverik-branded gas station and convenience store, 4,282 square feet on a 1.33-acre lot.; 17.1 years remaining on a 25-year NNN ground lease with corporate guarantee and ten 5-year renewal options; 7% rent increases every 5 years.; 7% rent increase scheduled for end of 2026.
