607 Twin Oaks Dr Johnson City, TN 37601-7614

Property Details for 607 Twin Oaks Dr

Year built

1998

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.02 lot acres

Property size

7,300 SF

Property type

Grocery and convenience stores

APN

055A H 00300

APU

055AH00300

Description

This exceptional investment opportunity presents a fee-simple ownership of a 7,491 square foot convenience store and gas station located at 607 Twin Oaks Dr, Johnson City, TN 37601. The property sits on a 2.02-acre lot at the intersection of Milligan Highway and Twin Oaks Drive, a high-traffic area averaging 12,800 vehicles per day. Its strategic location less than 2.5 miles from East Tennessee State University (10,000 students) and directly off I-26 (56,000 VPD) ensures consistent customer traffic. The property benefits from strong retail synergy with nearby businesses including Burger King, Arby's, Food City, and Walgreens. Further enhancing its appeal is an on-site Dunkin' drive-thru. The property is currently under a 15-year absolute NNN lease (commencing May 1, 2022, and expiring April 30, 2037), with a remaining term of 12.4 years. The lease includes 10% rent bumps every five years. The tenant, GPM Investments (S&P: B+, NASDAQ: ARKO), is credit-rated. The property boasts a 6.00% cap rate and a Net Operating Income (NOI) of $287,804. Built in 1998, this asset offers a compelling combination of location, tenant strength, and lease terms, making it an attractive investment prospect. The 5-mile trade area supports a population exceeding 73,000 residents and 64,000 employees, with an average household income of $71,927. This property offers a stable, high-performing investment with significant long-term potential.

Location Insight

City

Johnson City

County

Washington

State

Tennessee

Longitude

-82.3313

Latitude

36.3087

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments