11600 South River DrMedley, FL 33178

Property Details for 11600 South River Dr

Year built

2023

Property size (Sq ft)

2,824 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 2,824 square-foot Murphy Express convenience store and gas station in Medley, Florida. Located at a hard-corner, signalized intersection boasting over 64,000 vehicles daily, this property benefits from high visibility and significant traffic volume. The property sits on a 42,294 square-foot lot and includes 16 gas pumps. A 20-year ground lease with a Fortune 500 corporate guarantee (NYSE: MUSA) commenced June 1, 2023, and includes 8% rent increases every five years, ensuring strong, consistent returns. The Net Operating Income (NOI) is $177,000, resulting in a 5.00% cap rate and a price per square foot of $1,253.54. The property's strategic location within Medley's primary industrial corridor, near major businesses like the Rinker Plant and Titan America, provides access to a large customer base of over 19,000 people within a one-mile radius. This larger-format Murphy Express offers a wider array of products and services than a typical service station, maximizing revenue potential. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio. The ground lease expires May 31, 2043. The property was built in 2023 and has an APN of 22-2032-005-0010. The asking price is $3,540,000.

Location Insight

City

Medley

County

Miami-Dade

State

Florida

Latitude

25.8787

Longitude

-80.3577

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