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Updated: 07.25.24 Posted: 04.25.24 Status: Sold 02.14.23

Summary

Price $4,100,000
Built/Renov 2001/2024
Tenant SQRL
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,980
Lease Start 03-01-2023
#Units 350
Price/SF $2,070.71
Expiration 02-28-2043
Tenant Type Convenience/Gas
NOI $307,500
R. Term 17.10
Ownership Fee Simple
Rent/SF $155.30
Increases 2.5%/1/yrs
Pop 5Mi 86,400
Lot/AC 0.76
Options 4/5yrs/2.5%
AHHI 5Mi $97,422

Lease Highlights

  • SQRL has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2.5% annual rent escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

SQRL is strategically located at the signalized, hard-corner intersection of Belle Terre Parkway and Palm Coast Parkway SW, with access to a combined daily traffic count of 21,500 vehicles. The property boasts two points of ingress and cross access to an outparcel adjacent to a top-performing Publix, which has seen 939.2K visits in the past twelve months. Within a 1-mile radius, there is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: SQRL
  • Guarantor:Corporate
  • Company:SQRL Holdings, LLC
  • # Units:350
  • Stock:Private

About Tenant

SQRL Fuel operates gas stations with coffee shop-like convenience stores. Their brand focuses on being family-friendly and environmentally conscious as well as offering high-quality products,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,245 56,401 91,162
2023 Total Population : 8,035 54,046 86,460
2023 Employed Civilian Pop : 3,247 22,264 34,927
2023 Total Businesses : 683 1,762 2,387
2023 Average Household Income : $ 84,548 $ 90,892 $ 97,422
2023 Total Consumer Spending : $ 238 M $ 1734 M $ 2993 M
2023 Median Age : 52 50 51
2023 Total Households : 3,244 22,025 35,483
2023 Pop Age 25+: Bachelor's Degree : 1,152 7,394 12,865
2023 Average Home Value : $ 271,880 $ 322,584 $ 349,690
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Belle Terre Pkwy Cypress Point Pkwy 2008 16,676 0.12 mi
Belle Terre Pkwy Palm Coast Pkwy 2008 10,942 0.12 mi
Palm Coast Parkway West Belle Terre Pkwy 2022 17,500 0.18 mi
Palm Coast Parkway East Corporate Dr 2022 10,500 0.27 mi
Belle Terre Pkwy Pine Lakes Pkwy N 2008 36,621 0.29 mi
Palm Coast Pkwy Pine Cone Dr 2008 17,335 0.34 mi
Cypress Point Parkway Cypress Branch Way 2020 16,700 0.42 mi
Cypress Point Parkway Cypress Branch W 2022 17,100 0.42 mi
Palm Coast Parkway West Pine Cone Dr 2022 8,750 0.43 mi
Palm Coast Parkway West Pine Cone Dr 2021 7,750 0.43 mi

Listing Broker

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