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Shell

1194 Northeast Cleveland Street, Clearwater, FL 33755

$1,714,285

Cap Rate 7.00%

Views: 384 DOM: 128 Updated: 08.28.24 Posted: 05.02.24 Status: Active

Summary

Price $1,714,285
Built/Renov 1960/2022
Tenant Shell
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 900
Lease Start 07-18-2022
#Units 1
Price/SF $1,904.76
Expiration 07-17-2041
Tenant Type Convenience/Gas
NOI $120,000
R. Term 16.10
Ownership Fee Simple
Rent/SF $133.33
Increases 10.0%/5/yrs
Pop 5Mi 223,589
Lot/AC 0.41
Options 0/0yrs
AHHI 5Mi $85,457

Christopher Twist
Colliers NNN Investments
Contact

Lease Highlights

  • Shell has 17+ years remaining on the current lease term

  • The lease features 10% rental escalations every 5 years | Next increase in 2026
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Shell Indi Mart, LLC

Location Description

Shell is strategically located at the hard corner intersection of NE Cleveland Street and Drew Street, with access to a combined daily traffic count of 17,202 vehicles. The property is in a bustling urban area with high vehicular traffic, minutes from downtown Clearwater and the renowned Clearwater Beach. The 5-mile trade area is supported by a population of 223,589 residents with an average...

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Key Features

  • Recent renovation

  • Hard corner intersection

  • Build to suit

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Income tax free state

  • Long 15+ yr lease

  • Accelerated depreciation

  • Personal guarantee

    • ...

Links

Shell Wikipedia Shell plc Wikipedia Clearwater, Florida Zip Code 33755 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Shell
  • Guarantor:Franchisee
  • Company:Shell Indi Mart, LLC
  • # Units:1
  • Tenant S&P: A+
  • Moody’s: Aa2
  • Stock: NYSE: SHEL

About Tenant

Shell plc (NYSE: SHEL) is a British multinational oil and gas company formed in 1907 through the merger of the Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 14,575 94,670 224,762
2023 Total Population : 14,610 95,116 223,838
2023 Employed Civilian Pop : 6,139 45,732 108,160
2023 Total Businesses : 1,680 5,567 11,794
2023 Average Household Income : $ 65,765 $ 87,216 $ 85,442
2023 Total Consumer Spending : $ 365 M $ 3141 M $ 7868 M
2023 Median Age : 42 47 52
2023 Total Households : 6,315 41,384 105,878
2023 Pop Age 25+: Bachelor's Degree : 1,839 14,919 36,241
2023 Average Home Value : $ 415,082 $ 418,402 $ 362,309
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Drew St N Missouri Ave 2011 17,000 0.08 mi
Cleveland Street N Missouri Ave 2022 4,500 0.16 mi
Drew St N Greenwood Ave 2003 14,300 0.16 mi
Cleveland St N Missouri Ave 2011 7,000 0.17 mi
Cleveland St N Jefferson Ave 2003 23,500 0.18 mi
N Greenwood Ave Jones St 2011 4,001 0.21 mi
South Missouri Avenue Pierce St 2022 11,100 0.25 mi
Drew Street Booth Ave 2019 13,500 0.33 mi
S Missouri Ave Gould St 2011 14,678 0.40 mi
Drew St Fern Ave 2011 14,900 0.41 mi

Listing Broker

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