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MOBILE GAS STATION FOR SALE- NEW 10-YEAR PURE NNN LEASE IN-PLACE WITH ANNUAL INCREASES!
Listing was updated at: 12/04/2018
Property Overview
Price/Rent PSF $ 1,399,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 4,572
Date Available 12/04/2018
Additional URL Link
Parking 12
Floors 1
Additional parameters Show
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Description

Location
LOCATED ON THE BUSIEST STREET IN ALL OF LAKELAND, FL! W. MEMORIAL BLVD. HAS A DAILY TRAFFIC COUNT OF OVER 37,000 PER DAY. AMAZING VISIBILITY WITH A NEW PYLON SIGN RECENTLY ADDED TO THE PROPERTY. BUSINESS DOES FANTASTIC AND JUST SIGNED A BRAND NEW 10-YEAR PURE NNN LEASE!

Sale
THIS NNN GAS STATION IS LOCATED DIRECTLY ON MEMORIAL BLVD., ON THE BUSIEST ROADS IN ALL OF LAKELAND, FL. CURRENTLY, THE PROPERTY HAS A 10-YEAR PURE NNN LEASE IN-PLACE. THIS LEASE WAS SINGED ON JULY 19, 2018 AND GOES THROUGH JULY 18, 2028. THE RENTAL RATE STARTED AT $8,800 IN 2018 AND WILL INCREASE EACH AND EVERY YEAR BY 3% UNTIL THE END OF THE 10-YEAR TERM. EVEN BETTER IS THE FACT THAT THE TENANT HAS (2) FIVE-YEAR OPTIONS TO EXTEND AFTER THE EXPIRATION OF THE INITIAL LEASE TERM. THIS GIVES THE BUYER LOCKED-IN SECURITY AND FANTASTIC RENTAL INCOME FOR THE NEXT 10+ YEARS.

THIS IS THE PERFECT INVESTMENTS OPPORTUNITY FOR SOMEONE LOOKING TO LOCK IN A STRONG LONG-TERM TENANT THAT WILL PRODUCE OVER $90,000 OF RENTAL INCOME FOR THE NEXT 10 YEARS.

THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CASH-ON-CASH RETURN OF OVER 10.44% AND A CAP RATE OF APPROXIMATELY 7.8%. WITH THE 3% RENTAL INCREASES PER YEAR, THIS NUMBER WILL ONLY GO UP AS TIME GOES ON. BY YEAR 5, THE BUYER WILL BE ABLE TO OBTAIN A CASH-ON-CASH RETURN OF OVER 14.31% AND A CAP RATE OF OVER 8.7%. IN THE FINAL YEAR OF THE LEASE, BEFORE ANY OF THE OPTIONS ARE EXERCISED, THE BUYER WILL BE ABLE TO OBTAIN A CASH-ON-CASH RETURN OF OVER 20% AND A CAP RATE OF OVER 10%. THIS IS A SAFE AND EASY WAY TO MAKE A 10%-20% CASH-ON-CASH RETURN FOR THE NEXT 10 YEARS! THE TENANT HAS AN EXTREMELY STRONG BUSINESS WHICH ONLY HELPS STRENGTH THIS DEAL!

ANOTHER MAJOR STRENGTH OF THIS ASSET IS HOW EASY IT IS TO MANAGE. WITH THE TENANT BEING RESPONSIBLE FOR ALL EXPENSES AND REPAIRS, THIS IS EXTREMELY EASY TO MAINTAIN AND MAINTAIN FOR A BUYER.

THIS FANTASTIC INVESTMENT OPPORTUNITY GETS EVEN BETTER AS THE CURRENT LEASE IN-PLACE IS PURE NNN AND THE OWNER IS NOT RESPONSIBLE FOR ANY EXPENSES AT THE PROPERTY. PER THE LEASE, THE TENANT IS RESPONSIBLE FOR ALL PROPERTY TAX, INSURANCE, CAM CHARGES, MAINTENANCE, APPLICABLE SALES TAX, AND ALL REPAIR AND MAINTENANCE AT THE PROPERTY. THE TENANT IS ALSO FULLY RESPONSIBLE FOR ALL REPAIRS AND MAINTENANCE ON THE HVAC UNIT AND THE ROOF, WHICH WERE REPLACED IN 2018.

FURTHERMORE, THE TENANT HAS AGREED TO REPAIR AND MAINTAIN IN GOOD ORDER THE CONDITION OF THE ROOF, OUTSIDE WALLS, FOUNDATION, STRUCTURAL PORTIONS, SEWAGE SYSTEMS, AS WELL AS THE PARKING LOT. THE TENANT IS ALSO RESPONSIBLE FOR ALL UTILITIES, TRASH, WATER, SEWER AND ALL SERVICES AND SERVICE AGREEMENTS IN-PLACE AT THE PROPERTY. THIS LEAVES THE BUYER IN A GREAT POSITION AS THEY ARE NOT ONLY FREE OF ANY EXPENSES BUT ANY REPAIRS AND MAINTENANCE AT THE PROPERTY AS WELL.



THIS PROPERTY IS IN FANTASTIC CONDITION AS THE OWNERS SIGNIFICANTLY UPGRADED THE PROPERTY PRIOR TO THE TENANT SIGNING THE LONG-TERM LEASE. RECENT UPDATES INCLUDE NEW HVAC SYSTEM (2018), NEW ROOF, NEW CANOPY, NEW FUEL TANKS & FUEL PUMPS, AS WELL AS, NEW EXTERIOR AND INTERIOR PAINT! THE INTERIOR OF THE FOOD MART HAS ALSO BEEN UPDATED IN THE PAST 12 MONTHS AND IS IN FANTASTIC CONDITION. A BUYER CAN EASILY PURCHASE THIS ASSET AND HAVE ZERO CAPEX EXPENSES FOR THE NEXT 10 YEARS!

Location

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