$2,800,000
Details
Building Size : 1,200 Sq Ft
Lease Type : Ground Lease (Absolute NNN)
Lease Expiration : December 30, 2037 (17.8 Years Remaining)
Renewal Options : 4, 5-Year
Rental Increases : 10% Every 5-Years
Investment Highlights
2017 Construction with 8 fuel bays
Ideal 1031 Exchange | Great Price Point
Nearly 450,000 Residents in a 5-Mile Radius
Excellent Visibility Along NW 27th Ave with Exposure to nearly 54,000 VPD
Tremendous Long Term Security with a Highly Stable, Internet Resistant Tenant
Attractive 10% Rental Increases Every 5-Years Provide a Strong Hedge Against Inflation
20-Year Fee Simple Ground Lease (Zero Landlord Responsibilities), Plus 4, 5-Year Options
Surrounded by Dense Residential Neighborhoods - Miami Gardens is a Suburb within the Greater Miami MSA
Dade County is the Most Populus County in Florida and the 7th Most Populus County in the United States
1-Mile South of 65,300+ Capacity Miami Dolphins Hard Rock Stadium Featuring Millions of Annual Visitors - Home to the Miami Dolphins Hurricanes and Host to the Orange Bowl/Numerous Other Sports Events
Strong Retail Trade Corridor - Walmart Supercenter Pad Site. Surrounded by Numerous Other National Credit Tenants Including Aldi, Starbucks, 24 Hour Fitness, as well as a Brand New 269 unit Apartment Development
Corporate Guarantee by Murphy Oil USA, Inc. (NYSE: MUSA), feature annual revenues in excess of $11.59 billion, an investment grade credit rating of "BB+" by Standard & Poors, and operates more than 1,400 retail stations in 26 states.
Description
The subject is a corporately guaranteed Murphy Express with 8 MPD fueling stations located in Miami Gardens, FL. Built in 2017, the property benefits from its market positioning as an out parcel to a very busy Super Walmart and is 1-mile from the 65,000 seat Dolphins Stadium, home to the Miami Dolphins, the Orange Bowl and many other sporting and cultural events. The traffic count along NW 27th Ave is a very strong 54,000 VPD. The lease is an absolute net (no landlord responsibilities) ground lease and features 10% increases every 5 years with 17 years remaining in the primary term, plus 4, 5-year options. Murphy Oil USA, Inc. is a subsidiary of Murphy Oil USA, Inc (NYSE: MUSA), feature annual revenues in excess of $11.59 billion, an investment grade credit rating of “BB+” by S&Ps, and operates more than 1,400 retail stations in 26 states. The property is an ideal 1031 exchange providing tremendous security in a long term investment with a highly stable tenant.
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