Skip to content
Classifieds

User Stats

19
Posts
3
Votes
Lawrence Gilbert
  • Las Vegas, NV
3
Votes |
19
Posts

PORTFOLIO OF 19 FEE SIMPLE FLORIDA GAS STATIONS!

Lawrence Gilbert
  • Las Vegas, NV
Posted Jun 29 2017, 13:30
Portfolio of 19 Fee Simple Florida gas stations for sale for a firm price of $14 million plus 5% fee

$14 Million is a great price because the appraised value of the portfolio during the Great Recession (2010) was over $21 million.


This is the largest portfolio of non-corporately owned and operated convenience/fuel facilities in the entire area of [Confidential Region of] Florida


It’s not a cap rate deal, all the locations are leased to mom and pop dealers, and the gas deal pays the owner 2 cents per gallon.


The present owner/seller wasn’t looking to do anything but buy and hold these assets to sell later.

The seller knows that he could get more money for this portfolio if he got rid of the dealers and operated himself, but this just isn’t his primary source of income.


All stations are leased to third party dealers who are on Triple (NNN) Net Leases. (possible to deliver all of the sites without leases, if desired)


The Deal is a real estate play, rather than a cap rate play, (appraised value in the recession of $21 Million) all stations are leased to third party dealers.


The cap rate is slightly higher than 6.41% as rents are schedule to be raised.


There will be NO ADDITIONAL INFORMATION UNTIL THE FOLLOWING PROTOCOL IS FOLLOWED:


1. A confidentiality agreement must be executed.


2. Proof of Funds for $14 M must be submitted with the Confidentiality Agreement which will be forwarded to the seller who will either approve or disapprove whether or not it will move to the next steps.


3. Buyer understands the price is Firm at $14 million for 19 fee simple gas stations Plus 5% fee

Offering

Loading replies...