7.4% CAP RATE! STARKE GULF GAS STATION! (NNN) 800 S Walnut St 3,850 SF Retail Building Starke, FL 32091 $5,200,000 ($1,350.65/SF) 7.40% Cap Rate

THIS FULLY REMODELED, 12-PUMP GULF GAS STATION AND A SIGNATURE "SPEEDYS" C-STORE IS LOCATED IN STARKE, FL! THE SITE SITS DIRECTLY ON US HWY 301, A MAJOR THROUGHWAY THAT RUNS ACROSS THE STATE OF FLORIDA. LOCATED DIRCELTY NEXT TO McDONALD’S, KFC, BURGER KING, ALDI, AND DUNKIN’ DOUGHNUTS. THE PROPERTY ALSO HAS 3-TRUCK PUMPS IN THE REAR, AS THERE IS A MASSIVE AMOUNT OF TRUCKS THAT DRIVE BY THIS LOCATION DAILY! THIS PROPERTY IS ELIGIBLE FOR 100% BONUS DEPRECIATION!
THIS ONE-OF-A-KIND INVESTMENT OPPORTUNITY COMES WITH A 12-PUMP STATION, A FULLY REMODELED "SPEEDY’S" FOOD MART, A NEW (20-YEAR) LEASE (W/ (2) - 5 YEAR OPTIONS), & STRONG HISTORIC SALES. THE CURRENT OPERATOR HAS BEEN IN THE BUSINESS FOR OVER 36 YEARS! THEY HAVE OVER 75 LOCATIONS AND HAVE AN IMPRESSIVE TRACK RECORD OPERATING SUCESSFULL GAS STATIONS IN THE STATE OF FLORIDA!
CURRENTLY, THE PROPERTY HAS A NEW 20-YEAR PURE NNN LEASE THAT WILL BE SIGNED AT CLOSING & RUN FOR A FULL 20-YEAR TERM. THE RENTAL RATE STARTS AT $32,000 (PER MONTH) IN 2026 AND WILL INCREASE BY 10% 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 BY THE OPERATOR & BACKED BY A GULF GAS AGREEMENT THROUGHOUT THE TERM OF THE LEASE.
THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CAP RATE OF 7.4%. WITH THE RENTAL INCREASES EVERY 5 YEARS BUILT INTO THE CURRENT LEASE, THIS NUMBER WILL ONLY GROW! BY 2031, THE BUYER WILL EASILY SURPASS A CAP RATE OF 8.1% & THIS WILL RISE, 5 YEARS LATERTO A CAP RATE OF OVER 9%. BY THE FINAL YEARS OF THE LEASE, THE CAP RATEWILL SURPASS 11.3%, WITH UPSIDE FOR MORE AFTER THE INITIAL TERM. THISIS AN AMAZING RETURN FOR A NNN ASSET THAT IS HANDS-OFF FOR THE BUYER IN ONE OF THE BEST LOCATIONS TO OWN A GAS STATION IN ALL OF FL DUE TO THE EXTREMELY HIGH VOLUME OF TUCK TRAFFIC IN THE AREA, MOVING GOODS FROM CENTRAL FLORIDA TO BOTH NORTH AND SOUTH FLORIDA DAILY!
THIS FULLY RENOVATED AND RE-BRANDED GULF STATION SITS RIGHT OFF OF US HWY 301. THE SITE BOASTS MASSIVE TRAFFIC COUNTS, AND THIS LOCATION DOES INCREDIBLE NUMBERS DUE TO THE HEAVY DAILY TRAFFIC OF COMMUTERS AS WELL AS LARGE TRUCKS DRIVING ALONG THEIR TRUCKING ROUTES ACROSS THE STATE OF FLORIDA!
CURRENTLY, THE PROPERTY HAS A BRAND-NEW 20-YEAR PURE NNN LEASE THAT WILL BE SIGNED AT CLOSING AND RUN FOR A FULL 20-YEAR TERM. THE RENTAL RATE STARTS AT $32,000 (PER MONTH) IN 2026 AND WILL INCREASE BY 10% 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 BY THE TENANT AND BACKED BY A GULF FUEL SUPPLY AGREEMENT THROUGHOUT THE LIFE OF THE LEASE.
THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CAP RATE OF 7.4%. WITH THE RENTAL INCREASES EVERY 5-YEARS BUILT INTO THE CURRENT LEASE, THIS NUMBER WILL ONLY GROW! BY 2036, THE BUYER WILL EASILY SURPASS A CAP RATE OF 9%, AND THIS WILL RISE 5 YEARS LATER TO OVER A 10.2% 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, ($384,000) 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 36 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, 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 GULF GAS STATION ON THE MARKET PRODUCING A (7.4%-11.3%) CAP RATE, 9.2% AVERAGE CAP RATE THROUGHOUT THE LEASE, LOCKED IN FOR THE NEXT 20 YEARS! 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 FUTURE VALUE OF THIS ASSET! RECENT RENOVATIONS INCLUDE BUT ARE NOT LIMITED TO A NEW ROOF, NEW HVAC, NEW UPDATED PUMPS, NEW CANOPY, NEW SECURITY SYSTEM, NEW PYLON SIGNAGE, NEW EXTERIOR & INTERIOR PAINT, FULLY REDONE "SPEEDYS" C-STORE, A SITE HISTORY ENVIRONMENTAL REPORT, & MUCH MORE!