NNN Gas Station

[Julie P.]

I have the opportunity for a purchase of a gas station with a new NNN lease for 5 years with 2 additional 5 year options. Nothing to do but collect the money.

Initial return would be 9% but build to 18% at the end of 15 years. 

What would be the due diligence on this type of property?  Is anyone interested in doing a wholesale for this property?

Thanks,

Julie

[Simon Campbell]

My initial question would be that of land contamination. Gas stations are notorious for contamination issues. I would want to know what testing has been done and if contamination is found, who would be liable for the clean up. Make sure you get this in writing.