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Circle K - Dunkin' - Marco's Pizza

27616 Wesley Chapel Blvd | Wesley Chapel, Florida 33544

Contact Brokers

James Medefind
First Vice President Investments
James.Medefind@MarcusMillichap.com
(C) 850-228-9400
(O) 813-387-4788
FL #SL3216834

Highlights

  • 6,355-Square-Foot Gas Station Strip Center

  • Four Nationally Recognized Tenants

  • Located in Wesley Chapel (Tampa MSA) - One of the Fastest Growing Suburbs

  • Ideally Located Just Off Interstate-75

Description

Marcus & Millichap is pleased to offer for sale this four-tenant gas station strip center located in Wesley Chapel (Tampa MSA), Florida. The subject property is occupied by four nationally recognized tenants; Dunkin, Circle K, Cricket Wireless and Marco's Pizza. Dunkin' is on a gross lease and the other three tenants are on net leases. Circle K occupies over 42 percent of the center and has over 10 years remaining on their lease. Priced at a 7.82 percent cap rate, this rare opportunity can yield an investor a cash-on-cash return of 10.83 percent when leveraged with conservative financing terms (please see full Offering Memorandum for details).

Location

The subject property is situated in Wesley Chapel, one of the Tampa MSAs most desirable suburbs and one of the fastest-growing areas in the United States. With an average household income of over $81,000 within a five-mile radius of the subject property, this area is the destination of choice for many national retailers looking to meet the demands of a rapidly growing, affluent population. Wesley Chapel is currently undergoing a construction boom that has seen thousands of houses built over the last five years with recent expansion including two malls, a college campus, multiple luxury car dealerships, and an ice hockey rink. One of the most recent additions is the nation's first Crystal Lagoon, a seven and one-half acre man-made body of turquoise water and the main attraction of a new 2,000-home neighborhood being developed around Epperson Ranch. The lagoon is the first of its kind in the United States and is modeled after similar lagoons constructed in Egypt and Dubai. Located in the heart of Wesley Chapel, the subject property is perfectly positioned to benefit from the growth of the surrounding area as the suburb continues to be transformed into a more city-like environment.