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Murphy Express (GL)
5480 North State Road 7, Fort Lauderdale, FL 33309
$4,115,000
Cap Rate 4.50%
Summary
| Price $4,115,000 | Built/Renov 2022 | Tenant Murphy Express (GL) |
| Cap Rate 4.50% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
2,824
| Lease Start
09-09-2022
| #Units
1,712
|
| Price/SF $1,457.15 | Expiration
09-30-2042
| Tenant Type Convenience/Gas |
| NOI $185,000 | R. Term 18.9 | 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...
...Features
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New construction
-
Signalized intersection
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Hard corner intersection
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High traffic 50M+ VPD
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Highway close
-
Top 100 MSA
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Income tax free state
-
Brand new lease
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Absolute NNN
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Traded and rated company
...
Maps
Tenant
- Tenant: Murphy Express
- Guarantor:Corp T and Rated
- Company:Murphy Oil USA, Inc.
- # Units:1,712
- Tenant S&P: BB+
- Moody’s: Ba1
- Stock:NYSE: MUSA
About Tenant
Murphy Oil USA, Inc. (NYSE: MUSA), dba “Murphy USA,” is an American corporation operating a chain of retail gas stations that are primarily located in proximity to Walmart stores. They market...
...
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 |
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 |
