Retail Space For Lease @ 1194 Ne Cleveland St

THIS INCREDIBLE SHELL GAS STATION IS LOCATED IN DOWNTOWN CLEARWATER, FL. MINUTES FROM WORLD-FAMOUS CLEARWATER BEACH! CLEARWATER, IS ONE OF THE FASTEST-GROWING MARKETS IN ALL OF FLORIDA. THIS ONE-OF-A-KIND INVESTMENT OPPORTUNITY COMES WITH A 4-PUMP SERVICE STATION, A NEW PURE NNN (20-YEAR) LEASE, AND A GO MARKET SIGNATURE STORE! THE PROPERTY SITS ON THE CORNER OF CLEVELAND AND DREW ST, TWO OF THE BUSIEST STREETS IN ALL OF CLEARWATER, FL!

THIS IS A SAFE AND EASY WAY TO MAKE A (6.2% TO 9%) RETURN FOR THE NEXT 20 YEARS! THE TENANT HAS AN EXTREMELY STRONG BUSINESS MODEL WITH PROVEN HISTORICAL SUCCESS IN THIS LOCATION AND A BRAND NEW 20-YEAR GAS AGREEMENT WITH SHELL! A BUYER WILL INSTANTLY OBTAIN A 6.2% CAP RATE ON DAY ONE, AND WITH THE INCREASES IN PLACE, A BUYER WILL OBTAIN A 7%+ CAP RATE BY YEAR 5! BY THE END OF THE LEASE, A BUYER WILL BE ABLE TO OBTAIN OVER AN 9% CAP RATE! THE RECENT UPGRADES AND THE ADDITION OF THE NEW GO MARKET STORE, MAKE THIS AN INCREDIBLE VALUE-ADD ASSET!

CURRENTLY, THE PROPERTY HAS A BRAND NEW 20-YEAR PURE-NNN LEASE IN PLACE. THE LEASE, WHICH WILL COMMENCE ON THE DAY OF CLOSING IN 2022, WILL PAY THE OWNER $10,000 PER MONTH INITIALLY AND INCREASE BY 10% EVERY 5 YEARS THROUGHOUT THE TERM OF THE LEASE. 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 WITHOUT LIFTING A FINGER. THE LEASE IS FULLY GUARANTEED BY THE TENANT AND BACKED BY A SHELL GAS AGREEMENT THROUGHOUT THE LIFE OF THE LEASE.

THIS IS THE PERFECT INVESTMENT OPPORTUNITY FOR SOMEONE LOOKING TO LOCK IN A STRONG LONG-TERM INCOME, $120,000 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 30 YEARS. THEY ARE SEASONED PROFESSIONALS WHO HAVE A STRONG TRACK RECORD AND A PROVEN BUSINESS MODEL THAT HAS BEEN WORKING FOR YEARS!

THE CURRENT STATION DOES AN AVERAGE OF APPROXIMATELY (110,000 GALLONS) PER MONTH AT THIS LOCATION, NOT TO MENTION THE AMAZING STORE SALES OF OVER ($70,000) PER MONTH. THIS WILL ONLY INCREASE WITH THE ADDITION OF THE NEW SIGNATURE "GO MARKET" STORE THAT WILL SIT IN THE REAR OF THE PROPERTY! THE UPDATED STORE WILL ONLY BOOST THE STORE SALES AT THIS LOCATION IN THE FUTURE!

THE PROPERTY CURRENTLY BOASTS AN IN-PLACE CAP RATE OF APPROXIMATELY 6.2% WITH RENTAL INCREASES EVERY FIVE YEARS BUILT INTO THE CURRENT LEASE. BY 2036, THE BUYER WILL EASILY SURPASS A CAP RATE OF 8.2% AND THIS WILL RISE 5 YEARS LATER TO A CAP RATE OF OVER 9% WITH AN UPSIDE FOR MORE AFTER THE INITIAL TERM. IT IS VIRTUALLY IMPOSSIBLE TO FIND ANY PURE NNN SHELL STATION ON THE MARKET PRODUCING A (6.2%-9%) CAP RATE LOCKED IN FOR THE NEXT 20 YEARS. THIS OPPORTUNITY WILL NOT LAST LONG AS THE RENTAL UPSIDE AND SECURITY OF THIS EXTREMELY STRONG TENANT IS A COMBINATION THAT IS IMPOSSIBLE TO FIND ANYWHERE IN THIS MARKET. This space offers accomodations for: free standing building.