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Murphy Express 11600 NW South River Dr

2,824 SF Retail Building Medley, FL 33178 £2,654,157 (£940/SF) 5.25% Net Initial Yield

INVESTMENT HIGHLIGHTS

  • Corporate Guarantee From a Fortune 500 Company (NYSE: MUSA)
  • Rent Increases – 8% Every 5 Years
  • Larger Convenience Store – Murphy Express Offers More Products and Services Than the Average Service Station
  • 20-Year Brand New Ground Primary Lease Term
  • Sits In Hard Corner Signalized Intersection With 64,000+ Vehicles Per Day
  • Positioned Within Medley’s Primary Industrial Corridor | Proximity to Major Businesses, Including Rinker Plant and Titan America

EXECUTIVE SUMMARY

Marcus & Millichap is pleased to present the opportunity to purchase 11600 NW South River Drive, located in Medley (Miami), Florida.
The investment opportunity consists of a gas station with C-Store situated on just under one acre of land. Murphy USA has signed a new 20-year ground lease and has just completed the construction of the Station and C-Store. Murphy Express typically operates large-format facilities that offer a wider array of products and more fueling lanes than their original format, mirroring the functionality of a state-of-the-art service station. The subject property is strategically located on a hard corner signalized intersection, with a traffic count of 64,000+ vehicles per day. As a part of the Murphy USA family, this location is expected to continue serving the local community with its wide selection of popular convenience store products.
Medley is an industrially-focused town nestled in Miami-Dade County, Florida. Renowned for its industrial development, the town is a bustling hub of activity and growth. Situated 12 miles northwest of downtown Miami, Medley offers a unique blend of urban convenience and industry-oriented appeal. With the Miami Canal forming its border and an array of businesses including a Rinker plant and Titan America Pennsuco Cement Plant, Medley reflects an environment rich in industry and opportunity.
This is an outstanding opportunity to acquire a well-positioned retail property leased to a strong tenant in a densely populated region of Florida.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Service Station
Building Size
2,824 SF
Building Class
C
Year Built
2023
Price
£2,654,157
Price Per SF
£940
Net Initial Yield
5.25%
NOI
£139,343
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
0.97 AC
Frontage
49 ft on NW 116th Way

AMENITIES

  • Signalised Intersection

NEARBY MAJOR RETAILERS

Denny's
Checkers
TD Bank
Starbucks
Truist
US Century Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
22-2032-005-0010
Land Assessment
£1,581,670
Improvements Assessment
£534,488
Total Assessment
£2,116,158
  • Listing ID: 28642039

  • Date on Market: 02/06/2023

  • Last Updated:

  • Address: 11600 NW South River Dr, Medley, FL 33178

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