Property Description

THIS FULLY REMODELED 8-PUMP MOBIL GAS STATION WITH A SIGNATURE "GO MARKET" C-STORE IS LOCATED ON THE BUSY HARD CORNER OF COWN AVE AND STATE ROAD 60 IN LAKELAND, FL! THE PROPERTY SITS ON BUSY STATE RD 60, THE LONGEST HIGHWAY IN FLORIDA!! THIS STATION IS LOCATED JUST MILES FROM DOWNTOWN LAKELAND IN A HIGHLY RESIDENTIAL AREA! GIVEN THE SITE'S AMAZING LOCATION, CUSTOMERS COME FROM ALL DIRECTIONS TO GET GAS AND BUY GOODS AT THE STATION!

THIS ONE-OF-A-KIND INVESTMENT OPPORTUNITY COMES WITH AN 8-PUMP STATION, A FULLY REMODELED "GO MARKET" FOOD MART, A NEW (20-YEAR) PURE NNN LEASE, STRONG HISTORIC SALES, AND A VERY SUCCESSFUL OPERATOR WHO HAS BEEN IN THE BUSINESS FOR OVER 35 YEARS & OPERATES/OWNES OVER 50 SITES IN FLORIDA!

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 $15,000 (PER MONTH) IN 2025 & WILL INCREASE BY 7.5% 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 MOBIL 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 2030, THE BUYER WILL EASILY SURPASS A CAP RATE OF 7.5% & THIS WILL RISE, 5 YEARS LATER TO A 8% CAP RATE. BY THE FINAL YEARS OF THE ORIGINAL LEASE, THE CAP RATE WILL SURPASS 9.2%, AN AMAZING RETURN FOR AN NNN ASSET THAT IS HANDS-OFF FOR THE BUYER.

THIS IS CURRENTLY THE ONLY PURE NNN GAS STATION FOR SALE IN THE LAKELAND MARKET, WITH VERY LIMITED INVENTORY AVAILABLE. THE SITE DOES FANTASTIC SALES, AND WITH THE RECENT UPGRADES AND STRONG TENANTS IN PLACE TO RUN OPERATIONS, THOSE NUMBERS SHOULD ONLY IMPROVE GOING FORWARD.

THIS IS THE PERFECT INVESTMENT OPPORTUNITY FOR SOMEONE LOOKING TO LOCK IN STRONG LONG-TERM INCOME ($180,000) MINIMUM PER YEAR WITH A STRONG AND PROVEN TENANT. THE OPERATOR (TENANT) HAS MANY OTHER GAS STATIONS IN THE SURROUNDING AREA AND HAS BEEN RUNNING AND OPERATING GAS STATIONS FOR OVER 35 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 CITGO GAS STATIONS IN THE FLORIDA MARKET PRODUCING A (7%-9.2%) CAP RATE LOCKED IN FOR THE NEXT 20 YEARS ANYWHERE ELSE.

THIS OPPORTUNITY WILL NOT LAST LONG, AS THE SECURITY OF THE TENANT 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!

Location Description

LOCATED IN TAMPA, FL, ON BUSY HWY 573, AND 78TH ST IN