890 W Commercial Blvd - Service Station FOR SALE


Oakland Park, FL 33309
$4,641,805 USD
847-562-8500
890 W Commercial Blvd, Oakland Park, FL for Sale
$4,641,805 USD
Service Station - FOR SALE
1/3
null | 6.15% Cap Rate

890 W Commercial Blvd
Oakland Park, FL 33309


HIGHLIGHTS

  • Positioned within the Miami MSA
  • Guaranties from the parent company & two high net worth individuals
  • Located at a crucial stop off along Interstate 95 (277,000 VPD)
  • 430,000+ people live within a five-mile radius
  • Nearby area attractions include Keiser University (17,000 students), Chase Stadium (Home to Inter Miami CF), BJ’s Wholesale Club, & many others
  • Thoroughly renovated in 2021

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Shell Gas Station property positioned within the Miami MSA in Fort Lauderdale, Florida. The property was renovated in 2021 to accommodate the tenant, Boca Gas, who subsequently signed a long-term lease extending through November 2040, demonstrating their commitment to the site. The lease is absolute triple net with no landlord responsibilities. There are 2% annual rental escalations throughout the primary term and two 10-year renewal options. The lease also features guaranties from the parent company, Pipeline Petroleum Banning LLC, and two high net worth individuals. Gas Station properties are eligible for bonus depreciation – Consult with your CPA for specifics. The property benefits from its prime location at the signalized intersection of Commercial Boulevard and Powerline Road, where over 104,000 vehicles pass by daily. Additionally, the property is strategically positioned near the exit and entrance ramps of Interstate 95, which sees 277,000 vehicles daily. The asset is surrounded by several establishments that generate consistent traffic through the corridor. Including Fort Lauderdale Executive Airport (FXE) which handles more than 80,000 aircrafts annually. Other nearby attractions include Keiser University (17,000 students), Chase Stadium (Home to Inter Miami CF), BJ’s Wholesale Club, and many others. The surrounding area boasts a dense population of 430,000 people within a five-mile radius, with an average household income of $98,494. Boca Gas, a dynamic consortium of companies headquartered in the vibrant city of Boca Raton, Florida, has quickly become a prominent player in the state’s energy landscape. Since its founding in 2018, Boca Gas has grown to operate a diverse portfolio of franchises, including well-known brands such as Shell, Chevron, Mobil, BP, Sunoco, and 76, strategically located across Florida. With a bold vision to expand its footprint, Boca Gas is ambitiously pursuing the acquisition of over 100 gas stations throughout the United States. Backed by a dedicated team of over 200 employees, Boca Gas is committed to delivering quality service and fueling the future of America’s energy needs.

FOR SALE DETAILS

PRICE

$4,641,805 USD

PRICE/SF

$4,391 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shell

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

B-2

APN/PARCEL ID

49-42-15-11-0010

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.