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Murphy Express Ground Lease

5175 20th St, Vero Beach, FL 32966

Listing Price: $2,400,000

Cap Rate
5.00%
Tenant Name
Murphy Express
Years Remaining On Lease
19.20
Gross SF
2,756
Guarantor
Corporate Guarantee
Rentable SF
2,756
Price/Gross SF
$870.83
Lease Type
Ground Lease
Rent Per Square Feet
$43.54

Investment Overview

Marcus & Millichap is proud to exclusively market this Murphy Express absolute net ground leased investment property. The property is located on a major retail corridor in Vero Beach, a growing coastal municipality on the eastern shores of central Florida. The lot size is almost 1.3 acres and sits directly east of a Super Walmart and many other national tenants which pride constant draw to the service station and 2,756 SF convenience store. The site was built in late 2019 and has just over 19 years remaining on the base term of the lease. The ground lease is absolute net, with no management responsibilities. The tenant, Murphy Oil USA, Inc., is a very strong publicly traded company with over $14 Billion in annual revenue and almost 1,500 locations across the country and a BB+ credit rating. This is an ideal investment for Buyer looking for a long term corporate guaranteed income with no management responsibilities.

Investment Highlights

  • Lease Guaranteed by Murphy Oil USA, Inc a BB+ rated Public Company with $14 Billion in Annual Revenue and 1,500 Locations Nationally
  • Over 19 Years Remaining on New 20 Year Ground Lease
  • Low Rent and Price Point for Florida New Construction Gas Station Property

Exclusively Listed By

Auto Service - Gas-Conv

Murphy Express Ground Lease

Listing Price: $2,400,000

Cap Rate
5.00%
Tenant Name
Murphy Express
Years Remaining On Lease
19.20
Gross SF
2,756
Guarantor
Corporate Guarantee
Rentable SF
2,756
Price/Gross SF
$870.83
Lease Type
Ground Lease
Rent Per Square Feet
$43.54

Investment Highlights

  • Lease Guaranteed by Murphy Oil USA, Inc a BB+ rated Public Company with $14 Billion in Annual Revenue and 1,500 Locations Nationally
  • Over 19 Years Remaining on New 20 Year Ground Lease
  • Low Rent and Price Point for Florida New Construction Gas Station Property

Investment Overview

Marcus & Millichap is proud to exclusively market this Murphy Express absolute net ground leased investment property. The property is located on a major retail corridor in Vero Beach, a growing coastal municipality on the eastern shores of central Florida. The lot size is almost 1.3 acres and sits directly east of a Super Walmart and many other national tenants which pride constant draw to the service station and 2,756 SF convenience store. The site was built in late 2019 and has just over 19 years remaining on the base term of the lease. The ground lease is absolute net, with no management responsibilities. The tenant, Murphy Oil USA, Inc., is a very strong publicly traded company with over $14 Billion in annual revenue and almost 1,500 locations across the country and a BB+ credit rating. This is an ideal investment for Buyer looking for a long term corporate guaranteed income with no management responsibilities.

Exclusively Listed By

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