Net Lease Quiktrip Property Profile and Cap Rates Date September 25, 2020
Net Lease Quiktrip – Typical Property and Lease Terms
| Price Range: | $3M - $5.5M |
| Cap Rate: | 5.75% - 6.00% |
| Net Income: | $175,000 - $325,000 |
| Price Per foot: | $650 PSF - $950 PSF |
| Building Size: | 5,250 SF |
| Lot Size: | 2 Acres |
| Escalations: | Fixed |
| Lease Term: | 15 Years |
| Lease Type: | NNN |
| Credit Rating: | NR |
Tenant Company Information:
The QuikTrip Corporation, more commonly known as QuikTrip (QT), is an American chain of convenience stores based in Tulsa, Oklahoma that primarily operates in the Midwestern, Southern, and Southeastern United States as well as in Arizona.
The first QuikTrip was opened in 1958 in Tulsa by Burt Holmes and Chester Cadieux. The company expanded outside of Oklahoma in 1968, and started selling gasoline in 1971.[1] Chester’s son, Chet, Jr., is the current CEO.
In 2005, QuikTrip and Chevron were the first two retailers to earn a “Top Tier” rating from General Motors, BMW, Honda, Volkswagen, Audi, and Toyota. The “Top Tier” rating exceeds the United States Environmental Protection Agency’s standards for gasoline additives.[2]
QuikTrip was ranked as one of the 100 Best Companies to Work For. In January 2006, QT ranked No. 21, ninth among companies classified as “mid-size”. In 2008, QT was ranked No. 27 on Fortune’s Top 100 list.[3] QuikTrip often uses this fact in recruiting new employees. QuikTrip also ranked No. 33 on Forbes magazine’s list of largest private companies in 2016
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