CrossAmerica Partners NNN Property For Sale — Chipley, FL
1698 Main Street, Chipley, FL 32428
A single-tenant net-leased CrossAmerica Partners property is available for acquisition within the Panama City MSA in Chipley, Florida. CrossAmerica signed a 20-year absolute triple net lease in 2024, extending through June 2044, showcasing a strong commitment to the location with no landlord responsibilities. The lease includes 7.5% rental escalations throughout the primary term and offers four 5-year renewal options. The lease is corporately guaranteed by Lehigh Gas. As a fuel station asset, the property is eligible for 100% bonus depreciation. This property is situated on a spacious 2.22-acre lot and features 9 Tesla Supercharging stations. The 6,998 square-foot building is strategically located on Main Street, benefiting from high traffic counts of 15,800 vehicles per day, and offers e…
- Address: 1698 Main Street, Chipley, FL 32428
- Asking price $3.61M
- 6.00% cap rate
- NOI $216,500
- 17.8 years remaining
- NNN lease
- Year built: 1995
- Building size: 6,998 SF
- Lot size: 2.22 acres
- Lease expiration: Jun 30, 2044
- Rent increases: 7.5% every five years
- Guarantor: Corporate
Location
This CrossAmerica Partners property is at 1698 Main Street in Chipley, Florida.
Asset type: Fuel Station / Convenience Store