QuikTrip Mooresville, NC

Marcus & Millichap is pleased to present for sale this Fee Simple Absolute Net Leased QuikTrip located at 680 River Highway in Mooresville, North Carolina. The subject property consists of a freestanding building comprised of a 5,896sq.ft. convenience store, a dual row canopy with eight gas pumps and sixteen nozzles, and ample parking while situated on a large 2.30-acre parcel of land.
Strategically located on the Hard-Signalized Intersection of Morrison Plantation Parkway and River Highway, the property benefits from its high visibility to more than 28,000 vehicles per day. The property is also conveniently located just off the exit from Interstate-77 which sees daily vehicle counts in excess of 57,500. Adjacent to a Sam’s Club, a large Target anchored center, and across the street from an Ulta Beauty anchored center, QuikTrip further benefits from it’s ideal position along the area’s dense retail corridor. This strong retail corridor is home to a plethora of National and Regional retailers including but not limited to Sam’s Club, Five Guys, Target, Ross, Ulta Beauty, Dunkin, Best Buy, HomeGoods, PetSmart, Walgreens, CVS, Lowe’s, Walmart,
Hobby Lobby, McDonald’s, Chick-fil-A, and numerous others. This QuikTrip location serves an affluent market with average household incomes exceeding $129,000, $123,000, and $118,000 in the 1, 3 and 5-mile radiuses respectively.
Mooresville is a large town located in the southwestern section of Iredell County, North Carolina and part of the fast-growing Charlotte MSA with a total population of 2,200,000+. Numerous apartment complexes surround this QuikTrip location including The Palisades at Water’s Edge with 246 units, Bell Mooresville West with 192 units, Waypointe West Apartments with 192 units, Parian Apartments with 230 units, and Bell Lane Apartments with 260 units. As this is a fast growing area of North Carolina, many brand new home developments are also located nearby this property. Only a few minutes away is Gambill Forest by Lennar Homes with 200 brand new homesites for luxury homes. Also nearby is Forest Lake Townes by Tri Pointe with 120 brand new
townhomes and Sister’s Cove, a new village community with 40+ new homes.
The absolute NNN lease is backed by QuikTrip Corporate with annual revenues exceeding $10.5 Billion and has over 5+ years of initial term remaining with 7 Five-year options to extend.
The Quik Trip Corporation (QT) is an American chain of convenience stores based in Tulsa, Oklahoma that operates in the Midwestern, Southern and Southeastern United States as well as Arizona. Quik Trip was ranked as one of the 100 Best Companies to Work For and was ranked 27 on Fortune’s Top 100 List.
There are over 1,000 locations currently and offer products such as coffee, hoagies, prepared foods, gasoline, beverages and snacks. Services offered are Convenience Store, Gas Station and Fast Food. Revenue surpasses $10.5 Billion Annually and employs over 24,034 employees.


680 River Highway
Mooresville, NC 28117
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Price: $6,534,915
Year Built
Cap Rate 5.90%
NOI $385,859.00
Lease Expiration: June 30, 2028

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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Services Company (“Broker”) has been retained as the exclusive advisor and broker for the Seller (“Seller”) regarding the sale of the property known as QuikTrip Mooresville, NC, located in Mooresville, NC.

SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)

To receive an Offering Memorandum (“Offering Memorandum”) please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that he/she is aware that any Agent/Broker other than Marcus & Millichap, must be registered on this Confidentiality Agreement to be eligible to participate in the fee. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property’s Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller’s obligation thereunder have been satisfied or waived.

The Offering Memorandum and the contents, except such information, which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

Any rent or income information in this offering memorandum, with the exception of actual, historical rent collections, represent good faith projections of potential future rent only, and Marcus & Millichap makes no representations as to whether such rent may actually be attainable. Local, state, and federal laws regarding restrictions on rent increases may make these projections impossible, and Buyer and its advisors should conduct their own investigation to determine whether such rent increases are legally permitted and reasonably attainable.

No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.

By signing this Confidentiality and Buyer Registration Agreement you hereby authorize The Demo Group of Marcus & Millichap to contact you regarding this transaction, any other transaction, or for any other marketing purpose in the future.

Agreement and Electronic Records and Signature Notice

I hereby agree to the Agreement and represent that I am authorized to agree to the terms thereof and to act on behalf of the accepting party in the proposed transaction in the Agreement.

It is agreed by the parties that, notwithstanding the use herein of the words “writing,” “execution,” “signed,” “signature,” or other words of similar import, the parties intend that the use of electronic signatures and the keeping of records in electronic form be granted the same legal effect, validity, and enforceability as a signature affixed by hand or the use of a paper-based record keeping system.

This provision will be enforced to the extent and as provided for in any applicable law including the Electronic Signatures in Global and National Commerce Act, and any other similar state laws based on the Uniform Electronic Transactions Act.