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Views: 98 Updated: 05.04.24 Posted: 03.20.24 Status: Inactive 10.03.24

Summary

Price $5,923,000
Built/Renov 1993
Tenant Westar Gas Station
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,207
Lease Start 11-01-2021
#Units 40
Price/SF $4,907.21
Expiration 05-31-2045
Tenant Type Convenience/Gas
NOI $414,603
R. Term 20.7
Ownership Fee Simple
Rent/SF $343.50
Increases 2.0%/1/yrs
Pop 5Mi 340,404
Lot/AC 0.94
Options 2/10yrs
AHHI 5Mi $89,753

Lease Highlights

  • The tenant recently signed a brand-new 23-year lease
  • 2% annual rental increases throughout the initial term and CPI annual increases throughout options to extend
  • The lease is guaranteed by Trinity Petro LLC, an experienced gas station operator throughout South Florida
  • The lease includes 2 (10-year) options to extend

                                                                                                                                                                   
                                                                                                                                                                                                                                                             

Location Description

Westar Oil is strategically located at the signalized, hard corner intersection of N. Palm Avenue and Stirling Road, averaging a combined (57,000 VPD). The asset benefits from significant street frontage and multiple points of ingress/egress, providing convenience and ease for customers. Moreover, the property is near Cooper City High School (2,300+ students), further increasing consumer...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Westar Gas Station
  • Guarantor:Corporate
  • Company:Trinity Petro LLC
  • # Units:40
  • Stock:Private

About Tenant

Westar Gas Stations are a chain of gas stations and mini-marts operating in south Florida. Fourteen of the Westar locations are managed by Trinity Petro LLC., an experienced petroleum operator....


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 10,286 123,221 357,810
2022 Total Population : 10,339 123,228 355,214
2022 Employed Civilian Pop : 5,812 68,253 191,384
2022 Total Businesses : 464 6,622 18,154
2022 Average Household Income : $ 150,753 $ 117,516 $ 102,830
2022 Total Consumer Spending : $ 415 M $ 4455 M $ 11467 M
2022 Median Age : 43 40 39
2022 Total Households : 3,302 44,616 130,345
2022 Pop Age 25+: Bachelor's Degree : 2,116 21,443 53,268
2022 Average Home Value : $ 438,628 $ 406,878 $ 379,901
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SW 100th Ave SW 99th Ter 2009 16,500 0.12 mi
Stirling Rd SW 103rd Ave 2008 27,000 0.16 mi
SW 60th St SW 97th Ave 2008 29,000 0.21 mi
Stirling Road NW 97th Ave 2020 20,400 0.33 mi
North Palm Avenue Cayman St 2020 14,900 0.45 mi
Stirling Road Augusta Ave 2020 19,800 0.54 mi
Southwest 100th Avenue SW 52nd St 2020 18,400 0.71 mi
SW 90th Ave Dudley Rd 2008 9,300 0.72 mi
N Palm Ave Sheridan St 2008 19,300 0.77 mi
Sheridan St NW 102nd Ter 2009 24,500 0.98 mi

Listing Broker

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