The Boulder Group, a net leased investment brokerage firm, completed the sale of a CrossAmerica Partners convenience store and gas station located at 1698 Main Street in Chipley, Florida for $3,450,000.<\/p>\n
The property benefits from its location along Main Street (12,500 vehicles per day), just \u00bc mile north of I-10 (21,500 vehicles per day). Notable retailers nearby include Walmart, Tractor Supply Co, Dollar Tree, Wendy\u2019s, Waffle House, Domino\u2019s, KFC, Arby\u2019s, and multiple hotels. The surrounding area has a population of 20,870 people within a ten-mile radius, with an average household income of $63,601.<\/p>\n
The absolute net 20-year lease features a corporate guaranty. The tenant has over 19 years of lease term remaining with four 5-year renewal options. There are 7.5% rental increases every 5 years. This is a 2.33-acre site with 9 Tesla Supercharging stations. The property contains an operating Burger King restaurant on the premises.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The buyer is a Louisiana-based private investor and the seller is a commercial real estate development firm based in Alabama and Tennessee.<\/p>\n
CrossAmerica Partners is a leading U.S. wholesale distributor of motor fuels, operator of convenience stores, and owner and lessee of real estate used in the retail distribution of motor fuels. The company is publicly traded (NYSE: CAPL) and is headquartered in Allentown, PA. CrossAmerica Partners distributes petroleum for motor vehicles to approximately 1,800 locations and owns or leases approximately 1,100 sites. The company operates in 34 states.<\/p>\n
“Gas station properties rank among the top net lease investments for investors seeking to leverage bonus depreciation benefits” said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman of The Boulder Group, added, “Florida based real estate assets continue to garner significant interest from private investors.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The Boulder Group, a net leased investment brokerage firm, completed the sale of a CrossAmerica Partners convenience store and gas station located at 1698 Main Street in Chipley, Florida for $3,450,000. The property benefits from its location along Main Street (12,500 vehicles per day), just \u00bc mile north of I-10 (21,500 vehicles per day). Notable […]<\/p>\n","protected":false},"author":3,"featured_media":2911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[388],"tags":[],"class_list":["post-2910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-net-lease-sold"],"yoast_head":"\n