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7-Eleven (Ground Lease)

6405 Minton Rd, Palm Bay, FL 32908

Listing Price: $2,894,000

Cap Rate
4.25%
Tenant Name
7-Eleven
Years Remaining On Lease
7.4
Gross SF
3,248
Guarantor
Corporate Guarantee
Rentable SF
3,248
Price/Gross SF
$891.01
Lease Type
Ground Lease
Rent Per Square Feet
$37.86

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 7-Eleven Ground Lease in Palm Bay, Florida. The property consists of a 3,248-square-foot, freestanding building that sits on approximately 1.53 acres of land. There are approximately 7.4 years remaining on the current lease term, with a 10 percent rental escalation scheduled in the next option, as well as each option thereafter. The property is located at the signalized hard corner of Malabar Road and Minton Road, where combined traffic counts exceed 35,769 vehicles per day. The area is extremely dense with more than 128,120 residents within a five-mile radius.

Investment Highlights

  • Corporate Ground Lease with Approximately 7.4 Years Remaining
  • Signalized Hard Corner Location on Malabar Road and Minton Road (35,769 Vehicles per Day)
  • 23-Year Operating History - Tenant Extended the Lease 10 Years in 2019
  • More than 128,120 Residents Within a Five-Mile Radius
  • Large 1.53 Acre Parcel with Ample Parking and Multiple Access Points
  • Next to Palm Bay West, a 91,389-SF Power Center Anchored By Winn-Dixie, Planet Fitness and NCG Cinema
  • Most Populous City in the Palm Bay-Melbourne-Titusville MSA (606,612 MSA Population)

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Auto Service - Gas-Conv

7-Eleven (Ground Lease)

Listing Price: $2,894,000

Cap Rate
4.25%
Tenant Name
7-Eleven
Years Remaining On Lease
7.4
Gross SF
3,248
Guarantor
Corporate Guarantee
Rentable SF
3,248
Price/Gross SF
$891.01
Lease Type
Ground Lease
Rent Per Square Feet
$37.86

Investment Highlights

  • Corporate Ground Lease with Approximately 7.4 Years Remaining
  • Signalized Hard Corner Location on Malabar Road and Minton Road (35,769 Vehicles per Day)
  • 23-Year Operating History - Tenant Extended the Lease 10 Years in 2019
  • More than 128,120 Residents Within a Five-Mile Radius
  • Large 1.53 Acre Parcel with Ample Parking and Multiple Access Points
  • Next to Palm Bay West, a 91,389-SF Power Center Anchored By Winn-Dixie, Planet Fitness and NCG Cinema
  • Most Populous City in the Palm Bay-Melbourne-Titusville MSA (606,612 MSA Population)

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 7-Eleven Ground Lease in Palm Bay, Florida. The property consists of a 3,248-square-foot, freestanding building that sits on approximately 1.53 acres of land. There are approximately 7.4 years remaining on the current lease term, with a 10 percent rental escalation scheduled in the next option, as well as each option thereafter. The property is located at the signalized hard corner of Malabar Road and Minton Road, where combined traffic counts exceed 35,769 vehicles per day. The area is extremely dense with more than 128,120 residents within a five-mile radius.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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