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Auto Service - Gas-Conv

SQRL Service Station 20 Year NNN Lease 2% Annual Bumps

5676 University Blvd W, Jacksonville, FL 32216

Listing Price: $3,083,333

Cap Rate
6.00%
Tenant Name
SQRL Fuel
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
2,400
Lease Type
Absolute Net
Rent Per Square Feet
$77.08

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 2,400 square foot retail space, a single row canopy with four fueling stations, eight pumps, and ample parking on a large 0.5 acre parcel. It is strategically located at the signalized corner of University Boulevard West, and Barnes Road S. It has exposure to high traffic counts of 39,500 vehicles per day. The property benefits from the 78,826 residents in a 3-mile radius with an average household income of $71,951. The area is projected to see explosive growth of 6 percent by 2027. 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 Stations
  • 2 Percent Annual Rent Increases | Strong Hedge Against Inflation
  • Signalized Intersection Just Before Interstate Highway Entrance Ramp
  • Busy Retail Corridor Visible to High Traffic Counts of 39,500 VPD
  • Strong Corporate Guarantee Backed by 85 Units, $100M Revenue, $20M EBITDAR & $120M Personal Guarantee
  • Florida is an Income Tax-Free State

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

SQRL Service Station 20 Year NNN Lease 2% Annual Bumps

Listing Price: $3,083,333

Cap Rate
6.00%
Tenant Name
SQRL Fuel
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
2,400
Lease Type
Absolute Net
Rent Per Square Feet
$77.08

Investment Highlights

  • 20 Year Absolute Net Lease | Zero Landlord Responsibilities
  • Being Remodeled as SQRL Fuel Stations
  • 2 Percent Annual Rent Increases | Strong Hedge Against Inflation
  • Signalized Intersection Just Before Interstate Highway Entrance Ramp
  • Busy Retail Corridor Visible to High Traffic Counts of 39,500 VPD
  • Strong Corporate Guarantee Backed by 85 Units, $100M Revenue, $20M EBITDAR & $120M Personal Guarantee
  • Florida is an Income Tax-Free State

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 2,400 square foot retail space, a single row canopy with four fueling stations, eight pumps, and ample parking on a large 0.5 acre parcel. It is strategically located at the signalized corner of University Boulevard West, and Barnes Road S. It has exposure to high traffic counts of 39,500 vehicles per day. The property benefits from the 78,826 residents in a 3-mile radius with an average household income of $71,951. The area is projected to see explosive growth of 6 percent by 2027. 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.

Exclusively Listed By

Financing By

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