670 151St St Miami, FL 33169

Property Details for 670 151St St

Year built

2024

Lot size

0.93 lot acres

Property size

2,824 SF

Property type

Grocery and convenience stores

Property subtype

Gas stations

APN

30-2113-003-1080

Description

This exceptional investment opportunity presents a brand-new, 2,824 square foot Murphy Express convenience store and gas station in Miami, Florida. Boasting a prime location at a signalized hard corner with excellent visibility and multiple points of access, this property benefits from its proximity to I-95, experiencing 251,000 vehicles per day. The absolute NNN ground lease with Murphy Oil USA, Inc. (NYSE: MUSA) offers a 20.1-year initial term, extending to 2044 with four 5-year options, and includes built-in 8% rent increases every five years starting in year 11. The property features eight gas pumps and sits on a 0.93-acre lot. With a current NOI of $232,000 and a 5.00% cap rate, this offering provides a secure, passive income stream in a high-growth market. The property is 100% occupied and benefits from a corporate guarantee, minimizing landlord responsibilities. The surrounding area boasts a population of 190,000 within a 3-mile radius and an average household income of $69,000 within 1 mile, further enhancing the investment potential. The property is situated directly across from an active Winn-Dixie (Aldi) shopping center, adding to its strategic location and appeal. Built in 2024, this Class A asset represents a compelling investment opportunity with significant long-term growth potential. The asking price is $4,640,000, translating to $1,643.06 per square foot.