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SQRL

117 Lake Beulah Drive, Lakeland, FL 33815

$1,965,000

Cap Rate 9.39%

$2,120,690

Cap Rate 8.70%

DOM: 166 Updated: 03.22.24 Posted: 08.24.23 Status: Sold 02.07.24

Summary

Price $1,965,000 $2,120,690
Built/Renov 1962/2023
Tenant SQRL
Cap Rate 9.39% 8.70%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,840
Lease Start 09-04-2023
#Units 139
Price/SF $691.90 $746.72
Expiration 09-03-2043
Tenant Type Convenience/Gas
NOI $184,500
R. Term 18.4
Ownership Fee Simple
Rent/SF $64.96
Increases 2.0%/1/yrs
Pop 5Mi 147,768
Lot/AC 0.53
Options 4/5yrs/2%
AHHI 5Mi $64,231

Gabriel Britti
Marcus & Millichap
Contact

Ronnie Issenberg
Marcus & Millichap
Contact

Lease Highlights

  • New 2023 renovations
  • SQRL recently signed a brand new 20-year lease with 4 (5-year) options to extend
  • Lease features a 2% annual rental increase throughout the initial term and during each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by SQRL Holdings, LLC

Location Description

This newly renovated SQRL service station and convenience store is strategically located at the signalized intersection of Lake Beulah Drive and West Main Street with access to 2,450 vehicles per day. The subject property consists of a 2,840 square foot retail space, a single row canopy with two fueling stations, four pumps, and ample parking on a .53-acre parcel. Neighboring national/credit...

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Key Features

  • Signalized intersection

  • Recent renovation

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Income tax free state

  • Brand new lease

  • Absolute NNN

  • Accelerated depreciation

  • Corporate Guarantee

    • ...

Links

SQRL Wikipedia Lakeland, Florida Zip Code 33815 Broker Site Page

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: SQRL
  • Guarantor:Corporate
  • Company:SQRL Holdings, LLC
  • # Units:139
  • 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 : 8,966 70,178 144,957
2023 Total Population : 8,243 69,153 143,495
2023 Employed Civilian Pop : 3,012 27,090 61,485
2023 Total Businesses : 942 3,406 6,733
2023 Average Household Income : $ 53,692 $ 69,177 $ 74,153
2023 Total Consumer Spending : $ 164 M $ 1671 M $ 3700 M
2023 Median Age : 40 39 39
2023 Total Households : 3,468 27,519 56,940
2023 Pop Age 25+: Bachelor's Degree : 800 6,889 14,777
2023 Average Home Value : $ 164,824 $ 227,422 $ 239,081
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
George Jenkins Blvd N Veterans Ave 2005 12,100 0.17 mi
George Jenkins Boulevard S Lincoln Ave 2021 16,700 0.21 mi
Lake Beulah Drive S Webster Ave 2021 2,400 0.23 mi
Olive Street S Cornelia Ave 2021 3,100 0.28 mi
West Lemon Street S Ohio Ave 2021 950 0.36 mi
West Main Street Dakota Ave 2021 2,400 0.42 mi
Kathleen Rd Lake Wire Dr 2005 12,500 0.43 mi
Sikes Boulevard Hartsell Ave 2021 26,500 0.44 mi
Sikes Blvd Oakhill St 2003 23,000 0.45 mi
Lake Wire Dr Prospect Dr 2003 30,500 0.48 mi

Listing Broker

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