For Sale
$3,918,000

1506 Rock Springs RdApopka, FL 32712

High-yield, NNN leased Circle K.

Overview

Added:
Dec 11, 2024
Days on market:
114
Exceptional investment opportunity: A brand-new, 5,000 square foot Circle K convenience store and gas station in Apopka, Florida, is available for purchase. This property boasts a strong 4.85% cap rate and a substantial net operating income (NOI) of $190,000. The property sits on a 1.74-acre lot with 26 parking spaces and features a new 15-year absolute NNN lease with a credit-rated tenant, commencing May 1, 2024, and expiring May 1, 2039. The lease includes five 5-year renewal options and built-in rent bumps of 5% every 5 years, providing excellent protection against inflation and ensuring consistent income growth. The property is strategically located at 1506 Rock Springs Rd, Apopka, FL 32712, across from a Publix-anchored shopping center and near other national retailers such as Starbucks, Heartland Dental, UPS, H&R Block, and State Farm. This prime location in a high-growth area of Orange County, Florida, benefits from strong tenant synergy and high consumer traffic. The property's ground lease adds further investment security. This is a rare opportunity to acquire a newly constructed, high-performing asset with a long-term lease and significant upside potential. The property's address is 1506 Rock Springs Rd, Apopka, FL 32712. APN: 332028000000029.

Highlights

  • $3,918,000 asking price for a net-leased Circle K convenience store and gas station.
  • 15-year absolute NNN lease with five 5-year renewal options, commencing May 1, 2024.
  • Lease includes 5% rental increases every five years.
  • New construction, 5,000 square feet on a 1.74-acre lot with 26 parking spaces, located at 1506 Rock Springs Rd, Apopka, FL 32712.
  • Excellent location across from a Publix-anchored shopping center and near other national retailers.

Property Details for 1506 Rock Springs Rd

Property type
Retail properties, Grocery and convenience stores
Year Built
2024
Buildings
1
Lot Size (sq. ft)
75,794 SF

Location Insight

City
Apopka
County
Orange
State
Florida
Latitude
28.7062107
Longitude
-81.5096438
1506 Rock Springs Rd, Apopka, Florida

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1506 Rock Springs Rd
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