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Auto Service - Gas-Conv

7-Eleven

4550 N University Dr, Coral Springs, FL 33065

Listing Price: $10,515,000

Cap Rate
3.90%
Tenant Name
7-Eleven
Years Remaining On Lease
15.4
Guarantor
Corporate Guarantee
Rentable SF
4,088
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$100.29

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand new 7-Eleven convenience store and gas station in Coral Springs, Florida. This location has new, 15-year, triple net lease which offers four, five-year tenant renewal options and 10 percent rent increases every five years. This is a brand-new location and is currently under construction. The projected opening is the third quarter of 2022. This 7-Eleven is part of a high traffic, busy retail area. The Subject Property is conveniently located at the signalized intersection of University Drive and Wiles Road with excellent access and visibility to nearly 80,000 vehicles daily. The Property is also within close proximity to Sawgrass Expressway, a major roadway in the area with more than 91,000 vehicles daily. The surrounding area is a prime retail corridor with retailers including Publix, Aldi, Hobby Lobby, Walmart Neighborhood Market, Trader Joe’s, The Fresh Market, Bed Bath & Beyond, Target, Marshalls, Ross, Ulta Beauty, Office Depot, Youfit Health Club, Regal Magnolia Place Theater, Petco, Taco Bell, McDonald’s, Chipotle, Five Guys, Dunkin’, Starbucks, Anthony’s Coal Fired Pizza, CVS, Walgreens and many more. Located in Broward County, this 7-Eleven benefits from attractive demographics with over 300,000 residents in a five-mile radius, and the average household income in one-mile is nearly $115,000. Coral Springs was ranked third in Florida on the ‘100 Best Places to Live’ list by Money Magazine. With more than 1.9 million residents, the population of Broward County continues to grow at a pace well above the U.S. rate.

Investment Highlights

  • New, 15-Year, Triple Net (NNN) Lease With Four, Five-Year Tenant Renewal Options
  • Brand New Location, Currently Under Construction – Projected Opening Q3, 2022
  • 10 Percent Rent Increases Every Five Years Throughout Base Term of Lease and Option Periods
  • Coral Springs is Part of the Broward County MS | Population Over 300,000 Within a Five-Mile Radius | Average Household Income in One Mile is $114,981
  • Excellent Access and Visibility to More Than 78,000 Vehicles Daily at the Signalized Intersection of University Drive and Wiles Road
  • Close Proximity to Sawgrass Expressway, a Major Roadway in the Area and has a Daily Traffic Count of More Than 91,000 Vehicles
  • Surrounding National Retailers Include Publix, Aldi, Hobby Lobby, Walmart Neighborhood Market, Trader Joe's, The Fresh Market, Bed Bath & Beyond, Target, Marshalls, Ross, Ulta Beauty, Office Depot, Youfit Health Club, Regal Magnolia Place Theater, Petco, Taco Bell, McDonald's, Chipotle, Five Guys, Dunkin', Starbucks, Anthony's Coal Fired Pizza, CVS, Walgreens and Many More
  • One Mile from Cleveland Clinic Florida Coral Springs, a New 155-Bed Hospital Directly Off the Sawgrass Expressway

Exclusively Listed By

Auto Service - Gas-Conv

7-Eleven

Listing Price: $10,515,000

Cap Rate
3.90%
Tenant Name
7-Eleven
Years Remaining On Lease
15.4
Guarantor
Corporate Guarantee
Rentable SF
4,088
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$100.29

Investment Highlights

  • New, 15-Year, Triple Net (NNN) Lease With Four, Five-Year Tenant Renewal Options
  • Brand New Location, Currently Under Construction – Projected Opening Q3, 2022
  • 10 Percent Rent Increases Every Five Years Throughout Base Term of Lease and Option Periods
  • Coral Springs is Part of the Broward County MS | Population Over 300,000 Within a Five-Mile Radius | Average Household Income in One Mile is $114,981
  • Excellent Access and Visibility to More Than 78,000 Vehicles Daily at the Signalized Intersection of University Drive and Wiles Road
  • Close Proximity to Sawgrass Expressway, a Major Roadway in the Area and has a Daily Traffic Count of More Than 91,000 Vehicles
  • Surrounding National Retailers Include Publix, Aldi, Hobby Lobby, Walmart Neighborhood Market, Trader Joe's, The Fresh Market, Bed Bath & Beyond, Target, Marshalls, Ross, Ulta Beauty, Office Depot, Youfit Health Club, Regal Magnolia Place Theater, Petco, Taco Bell, McDonald's, Chipotle, Five Guys, Dunkin', Starbucks, Anthony's Coal Fired Pizza, CVS, Walgreens and Many More
  • One Mile from Cleveland Clinic Florida Coral Springs, a New 155-Bed Hospital Directly Off the Sawgrass Expressway

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand new 7-Eleven convenience store and gas station in Coral Springs, Florida. This location has new, 15-year, triple net lease which offers four, five-year tenant renewal options and 10 percent rent increases every five years. This is a brand-new location and is currently under construction. The projected opening is the third quarter of 2022. This 7-Eleven is part of a high traffic, busy retail area. The Subject Property is conveniently located at the signalized intersection of University Drive and Wiles Road with excellent access and visibility to nearly 80,000 vehicles daily. The Property is also within close proximity to Sawgrass Expressway, a major roadway in the area with more than 91,000 vehicles daily. The surrounding area is a prime retail corridor with retailers including Publix, Aldi, Hobby Lobby, Walmart Neighborhood Market, Trader Joe’s, The Fresh Market, Bed Bath & Beyond, Target, Marshalls, Ross, Ulta Beauty, Office Depot, Youfit Health Club, Regal Magnolia Place Theater, Petco, Taco Bell, McDonald’s, Chipotle, Five Guys, Dunkin’, Starbucks, Anthony’s Coal Fired Pizza, CVS, Walgreens and many more. Located in Broward County, this 7-Eleven benefits from attractive demographics with over 300,000 residents in a five-mile radius, and the average household income in one-mile is nearly $115,000. Coral Springs was ranked third in Florida on the ‘100 Best Places to Live’ list by Money Magazine. With more than 1.9 million residents, the population of Broward County continues to grow at a pace well above the U.S. rate.

Exclusively Listed By

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