Murphy USA | 3100 W 23rd St

Faris Lee Investments is pleased to present the opportunity to acquire a newly constructed, single-tenant Murphy USA property located in Panama City, Florida. The asset is secured by a corporate-executed lease with Murphy USA (NYSE: MUSA), a publicly traded Fortune 500 company ranked #214 and one of the nation’s leading fuel and convenience store operators. With annual revenues exceeding $20 billion and a network of more than 1,740 locations across 27 states operating under the Murphy USA, Murphy Express, and QuickChek brands, the tenant offers exceptional financial strength and long-term stability. The investment is backed by a new 20-year primary lease term with four additional five-year renewal options, providing up to 40 years of potential occupancy.

The lease is structured as an absolute triple-net (NNN) agreement, ensuring a completely passive ownership experience with zero landlord responsibilities. Murphy USA is responsible for all operating expenses, including maintenance and repairs to the building, roof, parking lot, and landscaping, as well as property taxes, insurance, and utilities. The lease also includes scheduled rent increases of 8% every five years, providing investors with growing cash flow, enhanced value appreciation, and protection against inflation over the life of the lease. As a newly developed property featuring Murphy USA’s latest prototype design, the asset benefits from modern construction, no deferred maintenance concerns, and strong intrinsic real estate value.

Strategically located in Panama City, one of Florida’s growing coastal markets, the property occupies a prominent hard-corner position at a signalized intersection with excellent visibility and accessibility. The site is supported by strong traffic counts along West 23rd Street and Highway 390, generating consistent customer exposure and demand. Panama City serves as a regional hub along Florida’s Gulf Coast and benefits from a growing population, strong tourism industry, and attractive quality of life. The surrounding trade area includes more than 78,000 residents, over 32,000 households, and average household incomes exceeding $93,000 within a five-mile radius. Combining a premier corporate tenant, long-term lease security, built-in rental growth, and a strategic location in a high-growth Florida market, this offering represents an exceptional opportunity for passive and out-of-state investors seeking stable, long-term income.