8% Cap Rate- Shell Gas Station & Supermarket! | 4619 Main St
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8% Cap Rate- Shell Gas Station & Supermarket! 4619 Main St
5,245 SF Retail Building Holt, FL 32564 £2,349,900 (£448/SF) 8.10% Net Initial Yield
Investment Highlights
- SHELL GAS STATION WITH BROWNS SUPERMARKET AND A SINGLE-FAMILY HOME IN THE REAR OF THE PROPERTY!
- 10% RENTAL INCREASES EVERY 5 YEARS! (AVG 20-YEAR CAP RATE: 10%) 2024 CAP RATE: 8% (IN-PLACE) 2029 CAP RATE: 9% 2034 CAP RATE: 10% 2039 CAP RATE: 11%
- ONLY GAS STATION WITHIN A 10-MILE RADIUS DIRECTLY OFF OF HIGHWAY I-10!
- 20-PURE NNN LEASE IN PLACE, WITH THE MONTHLY RENTAL RATE STARTING AT $20,0000 PER MONTH!
- SELLER WILL CARRY BACK UP TO ($500,000), AT 6% IR, INTEREST-ONLY, WITH A 2-YEAR BALLOON!
- RECENT RENOVATIONS: A NEW CANOPY, NEW PUMPS, NEW LIGHTING, NEW SIGNAGE, A NEW DELI COUNTER, & A STATE-OF-THE-ART CHECK-OUT COUNTER PLANNED FOR 2024!
Executive Summary
(8% Cap Rate)-SHELL GAS STATION AND BROWNS SUPERMARKET FOR SALE!
THIS INVESTMENT OPPORTUNITY CONSISTS OF A NEWLY REMODELED SHELL GAS STATION, A LARGE SUPERMARKET, AND A 4-BEDROOM SINGLE-FAMILY HOME IN THE REAR OF THE PROPERTY. LOCATED IN THE FAMOUS FLORIDA PANHANDLE ON US HWY 90, THE PROPERTY SITS JUST (.3 MILES) OFF OF BUSY INTERSTATE 10 (I-10)! SELLER FINANCING IS AVAILABLE (SEE P.5) FOR FULL DETAILS!
THE PROPERTY SITS ON A LARGE .63-ACRE SITE AND HAS BEEN RECENTLY UPDATED IN THE PAST YEAR! WITH THE NEW 20-YEAR PURE NNN LEASE THAT WILL BE SIGNED AT CLOSING, THE PROPERTY WILL BOAST A CAP RATE OF OVER 8% AT CLOSING! THE PROPERTY SITS AT AN INTERSECTION DIRECTLY OFF OF I-10 (EXIT 45) AND IS THE ONLY SERVICE STATION ON EXIT 45. IN FACT, THERE IS NO OTHER GAS STATION WITHIN ALMOST 10 MILES OF THE PROPERTY, CREATING A MASSIVE AMOUNT OF BUSINESS FOR THIS LOCATION. BROWNS SUPERMARKET, WHICH IS ATTACHED TO THE SERVICE STATION, IS A STAPLE IN THE LOCAL COMMUNITY AND HAS BEEN IN OPERATION FOR OVER 50 YEARS!
CURRENTLY, THE PROPERTY HAS A NEW 20-YEAR PURE NNN LEASE IN PLACE. THE LEASE WILL BE SIGNED AT CLOSING. THE RENTAL RATE STARTS AT $20,000 (PER MONTH) IN 2024 AND WILL INCREASE BY 10% EVERY 5 YEARS UNTIL THE END OF THE 20-YEAR TERM. THE TENANT ALSO HAS (2) FIVE-YEAR OPTIONS TO EXTEND AFTER THE EXPIRATION OF THE INITIAL LEASE TERM. THIS GIVES THE BUYER LOCKED-IN SECURITY & FANTASTIC RENTAL INCOME FOR THE NEXT 20+ YEARS. THE LEASE IS FULLY GUARANTEED BY THE OPERATOR & BACKED BY A SHELL GAS AGREEMENT THROUGHOUT THE LEASE.
THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CAP RATE OF 8%. WITH THE RENTAL INCREASES EVERY 5 YEARS BUILT INTO THE CURRENT LEASE, THIS NUMBER WILL ONLY GROW! BY 2029, THE BUYER WILL EASILY SURPASS A CAP RATE OF 9% & THIS WILL RISE, 5 YEARS LATER, TO A CAP RATE OF 10%. BY THE FINAL YEARS OF THE LEASE, THE CAP RATE WILL SURPASS 12%, WHICH IS AN AMAZING RETURN FOR A NNN ASSET THAT IS HANDS-OFF FOR THE BUYER!
THIS INVESTMENT OPPORTUNITY CONSISTS OF A NEWLY REMODELED SHELL GAS STATION, A LARGE SUPERMARKET, AND A 4-BEDROOM SINGLE-FAMILY HOME IN THE REAR OF THE PROPERTY. LOCATED IN THE FAMOUS FLORIDA PANHANDLE ON US HWY 90, THE PROPERTY SITS JUST (.3 MILES) OFF OF BUSY INTERSTATE 10 (I-10)! SELLER FINANCING IS AVAILABLE (SEE P.5) FOR FULL DETAILS!
THE PROPERTY SITS ON A LARGE .63-ACRE SITE AND HAS BEEN RECENTLY UPDATED IN THE PAST YEAR! WITH THE NEW 20-YEAR PURE NNN LEASE THAT WILL BE SIGNED AT CLOSING, THE PROPERTY WILL BOAST A CAP RATE OF OVER 8% AT CLOSING! THE PROPERTY SITS AT AN INTERSECTION DIRECTLY OFF OF I-10 (EXIT 45) AND IS THE ONLY SERVICE STATION ON EXIT 45. IN FACT, THERE IS NO OTHER GAS STATION WITHIN ALMOST 10 MILES OF THE PROPERTY, CREATING A MASSIVE AMOUNT OF BUSINESS FOR THIS LOCATION. BROWNS SUPERMARKET, WHICH IS ATTACHED TO THE SERVICE STATION, IS A STAPLE IN THE LOCAL COMMUNITY AND HAS BEEN IN OPERATION FOR OVER 50 YEARS!
CURRENTLY, THE PROPERTY HAS A NEW 20-YEAR PURE NNN LEASE IN PLACE. THE LEASE WILL BE SIGNED AT CLOSING. THE RENTAL RATE STARTS AT $20,000 (PER MONTH) IN 2024 AND WILL INCREASE BY 10% EVERY 5 YEARS UNTIL THE END OF THE 20-YEAR TERM. THE TENANT ALSO HAS (2) FIVE-YEAR OPTIONS TO EXTEND AFTER THE EXPIRATION OF THE INITIAL LEASE TERM. THIS GIVES THE BUYER LOCKED-IN SECURITY & FANTASTIC RENTAL INCOME FOR THE NEXT 20+ YEARS. THE LEASE IS FULLY GUARANTEED BY THE OPERATOR & BACKED BY A SHELL GAS AGREEMENT THROUGHOUT THE LEASE.
THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CAP RATE OF 8%. WITH THE RENTAL INCREASES EVERY 5 YEARS BUILT INTO THE CURRENT LEASE, THIS NUMBER WILL ONLY GROW! BY 2029, THE BUYER WILL EASILY SURPASS A CAP RATE OF 9% & THIS WILL RISE, 5 YEARS LATER, TO A CAP RATE OF 10%. BY THE FINAL YEARS OF THE LEASE, THE CAP RATE WILL SURPASS 12%, WHICH IS AN AMAZING RETURN FOR A NNN ASSET THAT IS HANDS-OFF FOR THE BUYER!
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,245 SF
Year Built/Renovated
1965/2024
Price
£2,349,900
Price Per SF
£448
Net Initial Yield
8.10%
NOI
£190,342
Tenancy
Single
Number of Floors
1
Building FAR
0.19
Lot Size
0.63 AC
Zoning
Supermarkets - Supermarket/Gas Station
Parking
37 Spaces (7.05 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Corner Lot
- Fenced Lot
- Food Court
- Freeway Visibility
- Pylon Sign
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Accent Lighting
- Car Charging Station
- Recessed Lighting
- Monument Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 33-3N-25-2500-0094-0000 | Improvements Assessment | £137,769 |
| Land Assessment | £85,920 | Total Assessment | £223,689 |
PROPERTY TAXES
Parcel Number
33-3N-25-2500-0094-0000
Land Assessment
£85,920
Improvements Assessment
£137,769
Total Assessment
£223,689
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8% Cap Rate- Shell Gas Station & Supermarket! | 4619 Main St
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