7% Cap Rate! New Chevron Station For Sale! (20 Year Pure Nnn Lease)

7950 Wire Rd, Zephyrhills, FL

$3,499,000

Price

2,400 sqft

Building Size

0.9314 acres

Lot Area

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Overview
Building Size
2,400 sqft
Lot Area
0.9314 acres
Occupancy
100%
Units
1
Year Built
1986
Floors
1
Parking Spots
20
Description

This Fully Remodeled 4 Pump Chevron Gas Station With A Signature "Harry's Food Mart" C Store Is Located In Beautiful Zephyrhills, Fl. The Property Sits At A Signalized Intersection With Heavy Traffic! This Station Is Located Directly Across The Street From The New 500+ Single Family Home Development Named "Abbott Park." This One Of A Kind Investment Opportunity Comes With A 4 Pump Station, A Fully Remodeled "Go Market" Food Mart, A New (20 Year) Lease, & Strong Historic Sales.

Currently, The Property Has A New 20 Year Pure Nnn Lease In Place. The Lease Will Be Signed At Closing & Run For A Full 20 Year Term. The Rental Rate Starts At $20,500 (Per Month) In 2024 And Will Increase By 5%, 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 & Backed By A Chevron Gas Agreement Throughout The Lease.

The Property Currently Boasts An In Place Cap Rate Of 7%. 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 7.5% & This Will Rise, 5 Years Later To Almost An 8% Cap Rate With An Upside For More After The Initial Term. By The Final Years Of The Lease The Cap Rate Will Surpass 9%, Which Is An Amazing Return For A Nnn Asset That Is Hands Off For The Buyer!

Currently, The Property Has A Brand New 20 Year Pure Nnn Lease In Place. The Lease Will Be Signed At Closing And Run For A Full 20 Year Term. The Rental Rate Starts At $20,500 (Per Month) In 2024 And Will Increase By 5%, Every 5 Years, Until The End Of The 20 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 20+ Years. The Lease Is Fully Guaranteed And Backed By A Chevron Supply Agreement Throughout The Life Of The Lease.

The Property Currently Boasts An In Place Cap Rate Of Approximately 7%. With The Rental Increases Every 5 Years Built Into The Current Lease, This Number Will Only Grow! By 2039, The Buyer Will Easily Surpass A Cap Rate Of 8.4%, And This Will Rise, 5 Years Later To Over A 9% Cap Rate With An Upside For More After The Initial Term.

This Is The Perfect Investment Opportunity For Someone Looking To Lock In A Strong Long Term Income, $20,500 Minimum Per Year, With A Strong And Proven Tenant. The Operator (Tenant) Many Other Gas Stations In The Surrounding Area And Has Been Running And Operating Gas Stations For Over 30 Years. They Are Seasoned Professionals Who Have A Strong Track Record And A Proven Business Model That Has Been Working For Years! One Major Advantage For An Investor Is How Easy This Asset Is To Manage. Due To The Fact That The Tenant Is Responsible For All Expenses, Including But Not Limited To All Property Repairs, Maintenance, Utilities, All Other Cam Charges, Property Taxes, And Insurance At The Property. This Asset Is Very Easy To Manage And Maintain For A Buyer Who Lives In The Area Or Even An Out Of State Investor!

It Is Virtually Impossible To Find Any Pure Nnn Chevron Gas Station On The Market Producing A 7% 9% Cap Rate Locked In For The Next 20 Years Anywhere Else. This Opportunity Will Not Last Long As The Security Of The Tenant Is In Place And The Rental Upside Is Impossible To Find Anywhere In This Market. The Recent Upgrades And Renovations Only Add To The Value Add Nature Of This Amazing Asset!

Located In The Heart Of Zephyrhills, Fl! On A Signalized Intersection!

Tenant Is Responsible For All Utilities

Highlights
  • BRAND NEW 4-PUMP CHEVRON STATION WITH FAMOUS "HARRY'S FOOD MART" C-STORE IN THE HEART OF ZEPHYRHILLS, FL!
  • LOCATED DIRECTLY ACROSS THE STREET FROM THE BRAND NEW "ABBOTT PARK" DEVELOPMENT!
  • THE "ABBOTT PARK" DEVELOPMENT IS A NEW COMMUNITY WITH OVER 514 SINGLE FAMILY HOMES!
  • 20-YEAR PURE NNN LEASE WITH TWO 5-YEAR OPTIONS! 5% RENTAL INCREASES EVERY 5 YEARS THROUGHOUT THE TERM OF THE LEASE.
  • 7% CAP RATE IN 2024!
  • 7.5% CAP RATE IN 2029! 8% CAP RATE IN 2034!
  • 8.4% CAP RATE IN 2039!
  • 9% CAP RATE IN 2044!
  • RECENT SITE RENOVATIONS INCLUDE NEW HVAC, NEW ROOF, NEW TANKS, NEW PUMPS, NEW CANOPY, NEW SIGNAGE, NEW PAINT, AND NEWLY RENOVATED INSIDE STORE WITH MANY INTERIOR UPDATES!
  • STRONG TENANT IN PLACE WITH OVER 35 YEARS OF GAS STATION OPERATION EXPERIENCE AND EXTREMELY STRONG FINANCIALS!
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