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SQRL

724 East Broadway Street, Fort Meade, FL 33841

$2,929,133

Cap Rate 8.50%

Views: 111 Updated: 04.09.24 Posted: 06.08.23 Status: Inactive

Summary

Price $2,929,133
Built/Renov 1990/2023
Tenant SQRL
Cap Rate 8.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 31,799
Lease Start 07-29-2022
#Units 139
Price/SF $92.11
Expiration 07-28-2042
Tenant Type Convenience/Gas
NOI $249,082
R. Term 17.10
Ownership Fee Simple
Rent/SF $7.83
Increases 2.0%/1/yrs
Pop 5Mi 9,276
Lot/AC 0.73
Options 4/5yrs/2%
AHHI 5Mi $57,080

Ronnie Issenberg
Marcus & Millichap
Contact

Gabriel Britti
Marcus & Millichap
Contact

Lease Highlights

  • 2023 remodel as a SQRL fuel station
  • Tenant has 19 years remaining on primary lease with 4 (5-year) options to extend
  • The lease features 2% annual rental increases
  • Absolute NNN lease with zero landlord responsibilities
  • Corporate guaranteed lease by SQRL Holdings, LLC
  • Income tax free state

Location Description

This newly remodeled 7,151 square foot service station is located at 724 East Broadway Street in Fort Meade, Florida which sees approximately 6829 VPD. There is a total of 9,276 people living within a 5-mile radius that earn an average household income of $57,080. Fort Meade is a city in Polk County Florida and it’s part of the Lakeland-Winter Haven Metropolitan Statistical Area. Mosaic...

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Key Features

  • Recent renovation

  • Strategically located

  • Strong tenant synergy

  • New development zone

  • Income tax free state

  • Long 15+ yr lease

  • Absolute NNN

  • Accelerated depreciation

  • Annual rent increases

  • Corporate Guarantee

    • ...

Links

SQRL Wikipedia SQRL Wikipedia Fort Meade, Florida Zip Code 33841 Broker Site Page

Documents

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: SQRL
  • Guarantor:Corporate
  • Company:SQRL Holdings, LLC
  • # Units:139
  • Stock:Private

About Tenant

SQRL Fuel operates gas stations with coffee-shop-like convenience stores. Their brand focuses on being family friendly and environmentally conscious as well as offering high quality products,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,398 5,583 6,541
2023 Total Population : 4,409 5,614 6,589
2023 Employed Civilian Pop : 1,522 1,978 2,396
2023 Total Businesses : 135 163 181
2023 Average Household Income : $ 70,848 $ 71,147 $ 72,603
2023 Total Consumer Spending : $ 104 M $ 135 M $ 160 M
2023 Median Age : 39 39 38
2023 Total Households : 1,632 2,131 2,479
2023 Pop Age 25+: Bachelor's Degree : 269 341 428
2023 Average Home Value : $ 195,206 $ 189,068 $ 192,402
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Broadway N Orange Ave 2021 6,700 0.12 mi
E Broadway St S Perry Ave 2005 7,100 0.18 mi
South Orange Avenue Cedar Ln 2021 1,050 0.44 mi
E Broadway St Florida Ave 2005 5,300 0.45 mi
N Charleston Ave Langford St 2005 17,400 0.64 mi
S Charleston Ave 1st St SE 2005 13,300 0.64 mi
6th Street Northeast N Pine Ave 2020 160 0.68 mi
N EDGEWOOD DR N Pine Ave 2021 200 0.70 mi
9th Street Northeast Patterson Cir 2021 1,450 0.78 mi
US 17 Hwy 17 2021 13,700 1.55 mi

Listing Broker

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