7006 Palmetto Cir Boca Raton, FL 33433

Property Details for 7006 Palmetto Cir

Year built

1984

Construction

STEEL FRAME

Lot size

1.00 lot acres

Property size

1,080 SF

Zone code

CG

Property type

Gas stations

APN

00-42-47-21-01-011-0000

APU

424721010110000

Description

This exceptional investment opportunity presents a 1,075 square foot Shell gas station located at 7006 Palmetto Cir N, Boca Raton, FL 33433. The property boasts a strong 6.15% cap rate and a substantial net operating income (NOI) of $645,000. The absolute NNN lease with Shell, a highly reputable tenant, has a remaining term of 15.3 years, extending to February 29, 2040, with built-in rent bumps of 7.5% every five years and four 5-year lease options. This strategically positioned property benefits from its location within the Miami MSA, ranked ninth in the US by population, and enjoys the advantages of Florida's tax-free environment. Situated on a grocery and gym-anchored outparcel, the station enjoys high visibility at a signalized intersection on Powerline Road (38,000 VPD), with close proximity to West Palmetto Park Road (51,000 VPD) and Interstate 95 (110,900 VPD). The affluent area boasts an average household income exceeding $137,000 within a one-mile radius and a population of over 302,000 within a five-mile radius. The property's strong tenant, excellent location, and long-term lease make it an attractive investment opportunity. Nearby retailers include Winn-Dixie, LA Fitness, Publix, Starbucks, Bank of America, Chipotle, and McDonald's. The asking price is $10,487,804. 100% occupancy ensures immediate cash flow.

Location Insight

City

Boca Raton

County

Palm Beach

State

Florida

Longitude

-80.1544

Latitude

26.3533

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments