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Shell 5980 Okeechobee Blvd

1,057 SF Retail Building West Palm Beach, FL 33417 £3,885,825 (£3,676/SF) 6.25% Net Initial Yield

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Investment Highlights

21-Year Absolute NNN Lease
Three Guarantors ($70MM+ Net Worth)
2.00% Annual Increases

~16+ Years Remaining
Two, 10-Year Options
28-Unit Operating LLC

Executive Summary

Embree Capital Markets is pleased to offer for sale to qualified investors a unique freestanding Shell gas stations and convenience stores. This is an opportunity for an investor to acquire well located gas stations in a personal income tax free state. The subject property received various property renovations in 2020. The absolute NNN leases feature 2.00% annual increases during their 21- year primary term and features two, 10-year extension options.

5980 Okeechobee Rd. West Palm Beach, FL - Shell V24

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Service Station

Building Size

1,057 SF

Building Class

Year Built/Renovated

1985/2020

Price

£3,885,825

Price Per SF

£3,676

Net Initial Yield

6.25%

NOI

£242,868

Tenancy

Single

Number of Floors

Building FAR

0.05

Land Acres

0.47 AC

Zoning

RH, CG - Residential High Density, General Commercial

Parking

6 Spaces (5.68 Spaces per 1,000 SF Leased)

Frontage

135 ft on Drexel

Amenities

Freeway Visibility

Pylon Sign

MAJOR TENANTS

Mining, Quarrying, and Oil and Gas Extraction
-
£225.26
Triple Net
Nov 2040

Shell is an international energy company with expertise in the exploration, production, refining and marketing of oil and natural gas, and the manufacturing and marketing of chemicals. They use advanced technologies and take an innovative approach to help build a sustainable energy future. They invest in power, including from renewable sources such as wind and solar. They also invest in electric vehicle charging and low-carbon fuels for transport, such as advanced biofuels and hydrogen