7% CAP RATE! NEW CHEVRON STATION FOR SALE! (20-YEAR PURE NNN LEASE)

7950 Wire Rd, Zephyrhills, FL 33540

  • For Sale $3,499,000
  • Property Type Retail - Street Retail
  • Property Size 2,400 SF
  • Units 1
  • Lot Size 0.93 Acre
  • Parking Spaces Avail. 20
  • Property Tenancy Single Tenant
  • Year Built 1986
  • Year Renovated 2023
  • Date Updated Apr 22, 2024
LOCATED IN THE HEART OF ZEPHYRHILLS, FL! ON A SIGNALIZED INTERSECTION!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!

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

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!

Contacts

broker

David Rosenthal

Grimaldi Commercial Realty

(813) 882-0884

Location

Getting Around

  • Walk Score ®

    3/100 Car-Dependent
  • Bike Score ®

    30/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Zephyrhills, FL
  • Neighborhood Heather Park
  • Zip Code 33540
  • Market Tampa St Petersburg Clearwater

Points of Interest

  • Speedway

    0.84 miles

  • Speedway

    2.04 miles

  • Shell

    3.81 miles

  • Shell

    6.05 miles

  • Marathon

    7.06 miles

  • Shell

    7.08 miles

  • Citgo

    7.24 miles

  • Sunoco

    8.33 miles

  • RaceTrac

    8.91 miles

  • Flying J

    9.42 miles

  • Visitor Parking

    1.62 miles

  • Student Parking

    1.70 miles

  • Faculty Parking

    1.73 miles

  • Visitor Parking

    1.76 miles

  • Chick-fil-A

    0.69 miles

  • Arby's

    0.72 miles

  • Taco Bell

    0.87 miles

  • Golden Corral

    1.28 miles

  • Culver's

    1.68 miles

  • Sunrise Eatery

    2.18 miles

  • Manolo’s Ristorante

    2.72 miles

  • Saigon Cafe

    2.88 miles

  • Burger King

    3.86 miles

  • McDonald's

    4.81 miles

  • Publix

    0.44 miles

  • Walmart Supercenter

    0.78 miles

  • Publix

    3.90 miles

  • Walmart

    4.77 miles

  • Winn-Dixie

    4.79 miles

  • Publix

    5.53 miles

  • Publix

    8.01 miles

Frequently Asked Questions

What is the lease rate for 7% CAP RATE! NEW CHEVRON STATION FOR SALE! (20-YEAR PURE NNN LEASE)?

Rental asking rate at 7% CAP RATE! NEW CHEVRON STATION FOR SALE! (20-YEAR PURE NNN LEASE) is $1,749,500.00/YR.

What is the total square footage of 7% CAP RATE! NEW CHEVRON STATION FOR SALE! (20-YEAR PURE NNN LEASE)?

7% CAP RATE! NEW CHEVRON STATION FOR SALE! (20-YEAR PURE NNN LEASE) totals 2,400 square feet.

When was this property built?

7% CAP RATE! NEW CHEVRON STATION FOR SALE! (20-YEAR PURE NNN LEASE) was built in 1986.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker

broker

David Rosenthal

Grimaldi Commercial Realty

(813) 882-0884