Gainesville, FL - Shell

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, recently renovated, Shell Gas Station and Car Wash investment property located in Gainesville, Florida. The tenant has over 16 years remaining on its lease with 2 (10-year) option periods to extend. The lease features 2% annual rental increases throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor in a state with no state income tax.

Shell is strategically located at the signalized, hard-corner intersection of SW Archer Road and SW 34th Street, a primary retail and commuter junction, with an average of 107,000 combined vehicles passing daily. The subject property benefits from excellent visibility and access with multiple points of ingress/egress, significant street frontage, and a large pylon sign. The subject property is located directly across from Butler Center, a massive super-regional mall spanning 2,000,000 square feet across 267 acres. It’s the fourth most visited super-regional mall in the nation, attracting over 10.5 million visitors annually (per Placer.ai). Hosting more than 150 tenants, including popular brands like Whole Foods Market, Publix, Target, Trader Joe’s, Walmart Supercenter, Dick’s Sporting Goods, Barnes & Noble, and many others, the property is a bustling hub of activity. Moreover, the property is in a dense residential corridor with nearby apartment complexes including The Reserve at Kanapaha (416 units), The Enclave (412 units), Stoneridge Apartments (366 units), Gainesville Place (349 units), and Aqua at Windmeadows (323 units), providing a strong consumer base to draw from. The investment is located less than 2 miles away from the University of Florida, the fifth largest public university campus in the United States, with over 60,000 students and 20,000 employees. The 5-mile trade area is supported by over 167,000 residents and 107,000 daytime employees, with average household incomes of $83,621.