Terrible Herbst Gas stations were founded in the 1930’s in Chicago but quickly expanded to most western states in the 1960’s. The name was enshrined and signified their moto of undercutting the competition at all costs and creating the C store model with loyalty programs which are copied to this day. The company had their own casino in Vegas at one point, and I believe have an off-road racing team. The company has over 200 stores in five western states and is still expanding with Edward Herbst’s sons running the show. Grear company and this is a great investment with very low risk. The main thing I like about this deal is the Gaming machines on-site which basically pay the rent, as well as the great C store and car wash. This travel center is next to the I15 and has great traffic counts of over 50,000 cars. https://www.terribleherbst.com
The large M2 lots of over 3 acres will always go up in value even through this deal ties up the land for 50 years! I would offer a 5.25% or 5.5% cap on this deal and look at it like a US treasury bond and give it for the grandkids.
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