Auto Service - Gas-Conv
SQRL Service Station 20 Year NNN Lease 2% Annual Bumps
2500 Mayport Rd, Jacksonville, FL 32233
Listing Price: $2,521,739
Investment Overview
Marcus & Millichap is pleased to present for sale this free-standing, singletenant,
SQRL Fuel Station Portfolio located in Jacksonville, Florida. The fee
simple lease, backed by SQRL Fuel Corporate, has a 20-year lease with
2 percent annual rent increases with an expected rent commencement of
October 2022. The absolute net lease (NNN) offers a true passive income
investment opportunity with zero landlord responsibilities.
The subject property consists of a 1,848 square foot retail space, a single row
canopy with four fueling stations, eight pumps, and ample parking on a large
1.1 acre parcel.
It is strategically located at the signalized hard corner of Mayport Road and
Hwy. A1A. with exposure to high traffic counts of 42,200 vehicles per day.
The property benefits from the 39,616 residents in a 3-mile radius with an
average household income of $104,801. The area is projected to see strong
population growth of 6.68 percent by 2027.
The property is located on a busy corner of a high-traffic area, across from
a Fleet Landing Retirement Community, Wendy’s, Arby’s, and next to a large
Family Dollar.
All of the properties are being renovated as SQRL Fuel Stations. SQRL fuel
stations are clean, well lit, safe places to fill up or grab some food. The stations
will offer full service at the pump and inside, along with drive-thru convenience
store service. Clean parking lots and bathrooms can be expected at every SQRL
Fuel Station. These family friendly, coffee-shop-like convenience stores offer
products sourced from local businesses, and do not have any inappropriate
material on store shelves. Their focus on sustainability and environmentally
conscious building includes the use of LEED Certified materials and intermodal
or shipping containers. Customers can enjoy a smoothie at the juice bar, or
treat the entire family to some local ice cream while their electric vehicle
charges outside. Chick-fil-a like service and security is standard at all SQRL
locations.
The leases are guaranteed by an 85-unit operating entity, doing $100 million
in revenue and $20 million EBITDAR, plus a $120 million personal guarantee.
Due to the success of SQRL rollouts, the operator has plans to continue
expansion with an additional 70 units in its development pipeline.
Florida is an income tax free state.
Investment Highlights
- 20-Year Absolute Net Lease | Zero Landlord Responsibilities
- Being Remodeled as SQRL Fuel Station
- Florida is an Income Tax-Free State
- Signalized Intersection on Visible to High Traffic Counts of 42,200 VPD
- SQRL Puts an Emphasis on Service, Partners with Local Food Vendors, and Provides a Family Friendly Atmosphere
Auto Service - Gas-Conv
SQRL Service Station 20 Year NNN Lease 2% Annual Bumps
Listing Price: $2,521,739
Investment Highlights
- 20-Year Absolute Net Lease | Zero Landlord Responsibilities
- Being Remodeled as SQRL Fuel Station
- Florida is an Income Tax-Free State
- Signalized Intersection on Visible to High Traffic Counts of 42,200 VPD
- SQRL Puts an Emphasis on Service, Partners with Local Food Vendors, and Provides a Family Friendly Atmosphere
Investment Overview
Marcus & Millichap is pleased to present for sale this free-standing, singletenant, SQRL Fuel Station Portfolio located in Jacksonville, Florida. The fee simple lease, backed by SQRL Fuel Corporate, has a 20-year lease with 2 percent annual rent increases with an expected rent commencement of October 2022. The absolute net lease (NNN) offers a true passive income investment opportunity with zero landlord responsibilities. The subject property consists of a 1,848 square foot retail space, a single row canopy with four fueling stations, eight pumps, and ample parking on a large 1.1 acre parcel. It is strategically located at the signalized hard corner of Mayport Road and Hwy. A1A. with exposure to high traffic counts of 42,200 vehicles per day. The property benefits from the 39,616 residents in a 3-mile radius with an average household income of $104,801. The area is projected to see strong population growth of 6.68 percent by 2027. The property is located on a busy corner of a high-traffic area, across from a Fleet Landing Retirement Community, Wendy’s, Arby’s, and next to a large Family Dollar. All of the properties are being renovated as SQRL Fuel Stations. SQRL fuel stations are clean, well lit, safe places to fill up or grab some food. The stations will offer full service at the pump and inside, along with drive-thru convenience store service. Clean parking lots and bathrooms can be expected at every SQRL Fuel Station. These family friendly, coffee-shop-like convenience stores offer products sourced from local businesses, and do not have any inappropriate material on store shelves. Their focus on sustainability and environmentally conscious building includes the use of LEED Certified materials and intermodal or shipping containers. Customers can enjoy a smoothie at the juice bar, or treat the entire family to some local ice cream while their electric vehicle charges outside. Chick-fil-a like service and security is standard at all SQRL locations. The leases are guaranteed by an 85-unit operating entity, doing $100 million in revenue and $20 million EBITDAR, plus a $120 million personal guarantee. Due to the success of SQRL rollouts, the operator has plans to continue expansion with an additional 70 units in its development pipeline. Florida is an income tax free state.

