7290 Central Industrial DrRiviera Beach, FL 33404

Property Details for 7290 Central Industrial Dr

Year built

1984

Construction

STEEL FRAME

Lot size

1.00 AC

Property size (Sq ft)

1,241 SF

Zone code

CG

Property type

Retail properties

Property subtype

Gas stations

APN

56-43-42-30-13-000-0030

APU

56434230130000030

Description

This exceptional investment opportunity presents a freestanding Shell-branded gas station and convenience store located at 7290 Central Industrial Dr, Riviera Beach, FL 33404, in Palm Beach County. The property, built in 1984 and renovated in 2020, boasts 952 square feet on a one-acre lot. It features 10 gas pumps and benefits from a strong location with high traffic counts (data not provided). The property is currently operating at 100% occupancy under a 21-year absolute NNN lease with a franchisee tenant (no credit rating provided). The lease commenced November 22, 2019, and expires November 30, 2040, leaving approximately 16 years remaining. The lease includes two 10-year renewal options and features a 2.00% annual rent increase. The current asking price is $4,259,000, representing a price per square foot of $4,473.74 and a 6.00% cap rate based on a net operating income (NOI) of $255,528. This offering presents a compelling investment opportunity in a tax-advantaged state, with significant population density within a 5-mile radius (data not provided). The property's strong tenant, lease terms, and location make it an attractive addition to any portfolio. This is a leased fee simple ownership.

• CAP approach

  CAP return

  Valuation

  6%

  $644,350

  6.5%

  $594,784

  7%

  $552,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $797,185

  Geo Method

  $797,185

• Alternative Use

  Use

  Valuation

  Residential

  $501,723

  Hospitality

  $459,575

  Educational

  $382,361

  Medical

  $395,511

  Retail

  $594,784

Location Insight

City

Riviera Beach

County

Palm Beach

State

Florida

Latitude

26.7837

Longitude

-80.0952

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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