6950 Okeechobee Blvd - Convenience Store FOR SALE


West Palm Beach, FL 33411- Golden Lakes
$5,653,846 USD
847-562-0003
6950 Okeechobee Blvd, West Palm Beach, FL for Sale
$5,653,846 USD
Convenience Store - FOR SALE
1/2
null | 6.5% Cap Rate

6950 Okeechobee Blvd
West Palm Beach, FL 33411
Golden Lakes


HIGHLIGHTS

  • Absolute NNN – No landlord responsibilities
  • Fuel station assets can qualify for bonus depreciation – Consult with your CPA
  • 20-year sale leaseback with 7% rental escalations every five years
  • Located along Okeechobee Blvd (67,000 VPD) and within proximity to Interstate 91 (71,000 VPD)
  • Dense retail corridor – The Home Depot, Publix, Walmart Neighborhood Market, Floor & Décor, Walgreens, CVS, Starbucks, & many others
  • Over 230,000 people live within a five-mile radius

OVERVIEW

The Boulder Group is pleased to exclusively market the sale leaseback of a single tenant FreshStop property positioned within the Miami MSA in West Palm Beach, Florida. The sale leaseback features a 20-year lease. The lease will be absolute triple net, presenting no landlord responsibilities. It also will contain 7% rental escalations every five years throughout the primary term and three 5-year renewal options. Additionally, Florida is an income tax free state. Fuel station assets can qualify for bonus depreciation – Consult with your CPA. The 4,325-square foot building is positioned along Okeechobee Boulevard, a heavily trafficked corridor with more than 67,000 vehicles per day. It is also near Interstate 91, which sees an additional 71,000 vehicles daily. The property is surrounded by major national retailers, including The Home Depot, Publix, Walmart Neighborhood Market, Floor & Décor, Walgreens, CVS, and Starbucks. Directly adjacent is The Point at Palm Beach Grove, a 245-unit apartment complex built in 2018, and the property sits across from the gated Riverwalk community. The surrounding area is densely populated, with over 230,000 residents within a five-mile radius, boasting an average household income exceeding $91,000. FreshStop is one of the fastest growing convenience store chains in the southeast with over 30 locations. Backed by a leadership team with over 70 years of combined industry expertise, FreshStop focuses on innovation, operational efficiency, and flawless customer service to outperform competitors. The company plans to grow through acquiring well-located stores and strategic development, utilizing its vertically integrated real estate and construction arm to execute growth plans independently, building on proven success in scaling platforms like Madison Capital Group and Links Car Wash.

FOR SALE DETAILS

PRICE

$5,653,846 USD

PRICE/SF

$1,307 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

FreshStop - Sale Leaseback

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

1.01 AC

LAND SF

43,995 SF

ZONING

CGSE

APN/PARCEL ID

00-42-43-28-01-002-0060

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 Policy.