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18 Year Absolute NNN Lease Annual Increases 1194 NE Cleveland St

900 SF Retail Building Clearwater, FL 33755 £1,341,342 (£1,490/SF) 7% Net Initial Yield

Investment Highlights

  • Downtown Clearwater ensures high visibility, accessibility and steady stream of customers
  • 10% rent increases every five years with the next increase in 2026
  • Absolute NNN lease - tenant is responsible for all expenses at the property
  • Low property rent indicates substantial opportunity for growth and increased valuation
  • 18 years remaining on primary term
  • Recent renovations include new HVAC, new pumps, tank upgrades, new canopy and signage

Executive Summary

The Twist Capital Team of Colliers is pleased to offer for sale to qualified investors the opportunity to acquire this gas station and convenience store in Clearwater, Florida.
The site is strategically located at the intersection of NE Cleveland Street and Drew Street in a bustling urban area with high vehicular traffic and minutes away from Downtown Clearwater and the world-famous Clearwater Beach.
This exceptional asset epitomizes a unique investment opportunity amidst one of the fastest growing markets in Florida. Backed by a 20-year absolute NNN lease providing the new owner with a stable, predictable income stream, this investment opportunity is further enriched by the inclusion of a Go Market signature store within the premises. This convenience store diversification allows for a broader customer base by offering a variety of products ranging from quick snacks to essential goods, appealing to both the casual visitor and local residents.
Clearwater’s reputation as a rapidly growing market is bolstered by its tourist appeal, burgeoning population, and economic development, making investments in the area likely to reap benefits in operational revenues and long-term property appreciation. The property’s strategic location and stability provided by a solid tenant position this gas station as a compelling option for investors.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
900 SF
Building Class
C
Year Built/Renovated
1960/2022
Price
£1,341,342
Price Per SF
£1,490
Net Initial Yield
7%
NOI
£93,894
Tenancy
Single
Number of Floors
1
Building FAR
0.05
Lot Size
0.41 AC
Opportunity Zone
Yes
Zoning
CG - CG
Parking
12 Spaces (13.33 Spaces per 1,000 SF Leased)
Frontage
287 ft on Drew

Amenities

  • 24 Hour Access
  • Bus Route
  • Corner Lot
  • Dedicated Turn Lane
  • Pylon Sign
  • Signage
  • Signalised Intersection
  • Monument Signage
  • Air Conditioning

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Shell
  • -
  • -
  • -
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease End
Shell - - - -
Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Fifth Third Bank
Fit Body Boot Camp
Starbucks
Anytime Fitness
Bank of America
Regions Bank
Publix Super Markets
Club Pilates
Chase Bank
CKO Kickboxing

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
15-29-15-03060-003-0010
Land Assessment
£243,481
Improvements Assessment
£202,515
Total Assessment
£445,997
  • Listing ID: 31491097

  • Date on Market: 12/04/2024

  • Last Updated:

  • Address: 1194 NE Cleveland St, Clearwater, FL 33755

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