1698 Main St - Service Station FOR SALE


Chipley, FL 32428
$3,608,333 USD
847-562-0003
1698 Main St, Chipley, FL for Sale
$3,608,333 USD
Service Station - FOR SALE
1/2
null | 6% Cap Rate

1698 Main St
Chipley, FL 32428


HIGHLIGHTS

  • Quali?es for 100% bonus depreciation – Consult with your tax advisor
  • Positioned within the Panama City MSA
  • CrossAmerica Partners is publicly traded (NYSE: CAPL)
  • Long-term lease through June 2044
  • Absolute NNN – No landlord responsibilities
  • Located on a large 2+ acre lot with 9 Tesla Supercharging Stations

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CrossAmerica Partners property positioned within the Panama City MSA in Chipley, Florida. In 2024, CrossAmerica signed a 20-year lease through June 2044, demonstrating commitment to the site. The lease is absolute triple net and presents no landlord responsibilities. There are 7.5% rental escalations throughout the primary term and four 5-year renewal options. The lease is also corporately guaranteed by Lehigh Gas. As a fuel station asset, the property is eligible for 100% bonus depreciation. The property is located on a large 2.22-acre lot and contains 9 Tesla Supercharging stations. The 6,998 square-foot building is located along Main Street (15,800 vehicles per day) and bene?ts from the proximity to Interstate 10, which experiences over 21,500 vehicles per day. Interstate 10 connects Chipley to Tallahassee, FL and Mobile, AL. The property is located across from Walmart Supercenter, a major traffic driver for the area. Other retailers nearby include Tractor Supply Company, AutoZone, Verizon, Wendy’s, Dunkin’s, Arby’s, and several others. There are more than 20,000 people living within a ten-mile radius. Those of which earn an average household income of $69,707. The property is also minutes from Chipley High School (600 students) and Northwest Florida Community Hospital (59 beds). CrossAmerica Partners LP, headquartered in Allentown, Pennsylvania, is a leading wholesale distributor of motor fuels, a convenience store operator, and an owner and lessor of real estate used in the retail distribution of motor fuels in the United States. Formed in 2012 as Lehigh Gas Partners, the company rebranded to CrossAmerica Partners and launched its initial public offering on the New York Stock Exchange (NYSE: CAPL) in October 2012. Operating in 34 states, CrossAmerica distributes branded and unbranded petroleum to approximately 1,800 locations and owns or leases over 1,100 sites. The company has established long-term partnerships with major oil brands, including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf, CITGO, Marathon, and Phillips 66.

FOR SALE DETAILS

PRICE

$3,608,333 USD

PRICE/SF

$540 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CrossAmerica Partners (NYSE: CAPL)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.33 AC

LAND SF

101,495 SF

ZONING

C

APN/PARCEL ID

00000000-00-2341-0005

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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