|Property Type||NNN||Total Lot Size||2.27 AC|
|Property Sub-type||Commercial||Zoning Description|
|Listing ID:||Date Created: 05/20/2020|
|Price||$3,778,000||Lot Size||2.27 AC|
FL Retail Advisors is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute triple-net leased, corporate guaranteed, Cumberland Farms with fuel station, investment property located in Rockledge, FL.
The tenant, Cumberland Farms LLC, has signed a brand new 20-year ground lease with six (5-year) options to extend with five percent (5.00%) increases in each. The lease features 7.50% rental increase in year 6, and 5.00% increases every five (5) years thereafter, steadily growing NOI and hedge against inflation. The lease is corporate guaranteed and is absolute triple-net with zero landlord responsibilities.
Brand new Interstate 95 diverging interchange (only second in the county) recently opened a few hundred feet west of the Subject. This interchange now allows commuters direct access to convenience store and fuel stations from the on and off ramp traffic. Current traffic counts on Interstate 95 exceed 75,000± vehicles per day.