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Views: 135 Updated: 05.20.24 Posted: 08.16.23 Status: Inactive 10.03.24

Summary

Price $4,115,000
Built/Renov 2022
Tenant Murphy Express | Murphy USA (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,824
Lease Start 09-09-2022
#Units 1,733
Price/SF $1,457.15
Expiration 09-30-2042
Tenant Type Convenience/Gas
NOI $185,000
R. Term 17.9
Ownership Ground Lease
Rent/SF $65.51
Increases 6.0%/4/yrs
Pop 5Mi 493,752
Lot/AC 1.51
Options 4/5yrs/6%
AHHI 5Mi $75,005

Lease Highlights

  • New 2022 construction
  • Murphy Express recently signed a brand new 20-year lease with 4 (5-year) options to extend
  • Lease features a 6% rental increase every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Murphy Oil USA, Inc. (NYSE: MUSA)

Location Description

This newly constructed Murphy Express is located at the signalized, hard corner intersection of Prospect Road and North State Road seeing 67,800 vehicles per day. The site is directly off of Florida's Turnpike (121,800 VPD), a major toll road that runs north-south through the state of FL, connecting many key cities and regions. Additionally, Fort Lauderdale Executive Airport is located...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Murphy USA Inc. (NYSE: MUSA) is an American corporation operating a chain of retail gas stations across the Southwest, Southeast, Midwest, and Northeast United States. Murphy USA, Inc. locations...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 18,318 194,002 501,761
2023 Total Population : 18,054 193,346 493,752
2023 Employed Civilian Pop : 9,431 102,686 259,436
2023 Total Businesses : 1,422 9,834 28,244
2023 Average Household Income : $ 65,819 $ 69,557 $ 75,005
2023 Total Consumer Spending : $ 392 M $ 4443 M $ 12471 M
2023 Median Age : 41 40 41
2023 Total Households : 6,789 73,120 190,801
2023 Pop Age 25+: Bachelor's Degree : 1,787 22,100 63,962
2023 Average Home Value : $ 265,119 $ 304,252 $ 315,843
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Hwy 441 Florida Tpke 2009 48,500 0.21 mi
State Road 7 NW 44th Ave 2021 50,000 0.23 mi
W Prospect Rd NW 56th St 2008 17,800 0.23 mi
State Road 7 NW 47th Trl 2021 40,000 0.27 mi
SR 91 NB NW 44th Ave 2021 6,700 0.31 mi
SR 91 SB NW 53rd St 2021 6,130 0.35 mi
Florida's Turnpike NW 53rd St 2021 6,700 0.36 mi
COMMERCIAL BLVD NW 44th Ave 2021 5,879 0.37 mi
86470120 RAMP W Commercial Blv 2021 14,600 0.40 mi
US Hwy 441 NW 47th Trl 2009 41,500 0.44 mi

Listing Broker

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