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7-Eleven

2980 Roosevelt Blvd, Clearwater, FL 33760

Listing Price: $8,078,000

Cap Rate
4.95%
Tenant Name
7-Eleven
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
4,560
Lease Type
Absolute Net
Rent Per Square Feet
$87.69

Investment Overview

FUNDAMENTAL LOCATION, VISIBILITY & ACCESS Located at the NWC of Roosevelt Boulevard & 58 Street in Clearwater, a northern submarket of St. Petersburg Brand new 2023 Ground-Up Redevelopment of an existing 7-Eleven Redevelopment includes 3,580/sq ft Convenience Store plus ±980/sq ft Car Wash facility Redevelopment equipped with 8 Fueling Dispensers and 16 Fueling Stations Currently under construction with Store Opening projected late February 2023 Strategically positioned on highly visible ±1.67-acre Corner Lot along Roosevelt Boulevard Located at 4-way traffic signal along 6-lane road with direct Access along Roosevelt Blvd and 58th Street Robust traffic counts: 54,000 VPD east of US 19 along on Roosevelt Boulevard (FL-686) and ±6,200 VPD on 58th Street Nearby Traffic Generators are Walmart Supercenter, Walgreens, Publix@ Tri City Plaza, Publix @ East Bay, HCA Florida Hospital, CarMax, and St. Petersburg-Clearwater International Airport OPTIMAL LEASE STRUCTURE 15-year lease with 7-Eleven corporate guaranty Absolute NNN lease with ZERO LANDLORD RESPONSIBILITIES Investment Grade Credit: “A” S&P bond rating 10% Rent Increases every five (5) years in Base Term & Option Periods Four (4), five-year options Fee simple ownership provides for accelerated depreciation [subject to 2023 tax guidelines] PROMINENT LOCALE WITH EXCELLENT DEMOS Dense Residential Population of 69,276 in a 3-mile and 194,183 in 5-mile radius Daytime Population of 254,503 within a 5-mile radius Average HH Incomes of $70k+ in a 1, 3, & 5-mile proximity of the subject property Redevelopment supported by ±88,056 Households within a 5-mile radius Monument Sign along Roosevelt Blvd. creates enhanced exposure Located in one of Clearwater’s primary commercial nodes Located ±1.5 miles from US 19 which provides connectivity between St. Petersburg and Tampa/North Tampa markets Florida is an NO Income-Tax State CATEGORY-LEADING TENANT World’s Largest Convenience Retailer with over 71,100 locations in 20 countries globally and 13,000 located in US and Canada Largest Convenience Retailer in the US by more than 5,000+ stores Ranks #261 on Forbes “World’s Largest Companies” in 2022 with $78.5 billion in revenue and a Market Cap of $38.08 billion Seven & I Holdings, 7-Eleven’s parent company, plans to double its store count in the U.S. by 2027 #9 on the Franchise 500 Ranking in 2022 by Entrepreneur.com 7-Eleven honored with the “Best Overall Digital Transformation” award at the 2022 Modern Retail Awards

Investment Highlights

  • 2023 GROUND-UP REDEVELOPMENT
  • 15-YEAR NNN LEASE | CAR WASH ON SITE
  • 10% RENT BUMP S EVERY 5 YEARS

Exclusively Listed By

  • Sonny Molloy

    Senior Managing Director Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

  • Jared M. Kaye

    First Vice President Investments

    (678) 808-2821

    Email Jared

    License(s): GA: 348701, FL: SL3224428, SC: 129648, NV: S.0198902

    Atlanta

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Auto Service - Gas-Conv

7-Eleven

Listing Price: $8,078,000

Cap Rate
4.95%
Tenant Name
7-Eleven
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
4,560
Lease Type
Absolute Net
Rent Per Square Feet
$87.69

Investment Highlights

  • 2023 GROUND-UP REDEVELOPMENT
  • 15-YEAR NNN LEASE | CAR WASH ON SITE
  • 10% RENT BUMP S EVERY 5 YEARS

Investment Overview

FUNDAMENTAL LOCATION, VISIBILITY & ACCESS Located at the NWC of Roosevelt Boulevard & 58 Street in Clearwater, a northern submarket of St. Petersburg Brand new 2023 Ground-Up Redevelopment of an existing 7-Eleven Redevelopment includes 3,580/sq ft Convenience Store plus ±980/sq ft Car Wash facility Redevelopment equipped with 8 Fueling Dispensers and 16 Fueling Stations Currently under construction with Store Opening projected late February 2023 Strategically positioned on highly visible ±1.67-acre Corner Lot along Roosevelt Boulevard Located at 4-way traffic signal along 6-lane road with direct Access along Roosevelt Blvd and 58th Street Robust traffic counts: 54,000 VPD east of US 19 along on Roosevelt Boulevard (FL-686) and ±6,200 VPD on 58th Street Nearby Traffic Generators are Walmart Supercenter, Walgreens, Publix@ Tri City Plaza, Publix @ East Bay, HCA Florida Hospital, CarMax, and St. Petersburg-Clearwater International Airport OPTIMAL LEASE STRUCTURE 15-year lease with 7-Eleven corporate guaranty Absolute NNN lease with ZERO LANDLORD RESPONSIBILITIES Investment Grade Credit: “A” S&P bond rating 10% Rent Increases every five (5) years in Base Term & Option Periods Four (4), five-year options Fee simple ownership provides for accelerated depreciation [subject to 2023 tax guidelines] PROMINENT LOCALE WITH EXCELLENT DEMOS Dense Residential Population of 69,276 in a 3-mile and 194,183 in 5-mile radius Daytime Population of 254,503 within a 5-mile radius Average HH Incomes of $70k+ in a 1, 3, & 5-mile proximity of the subject property Redevelopment supported by ±88,056 Households within a 5-mile radius Monument Sign along Roosevelt Blvd. creates enhanced exposure Located in one of Clearwater’s primary commercial nodes Located ±1.5 miles from US 19 which provides connectivity between St. Petersburg and Tampa/North Tampa markets Florida is an NO Income-Tax State CATEGORY-LEADING TENANT World’s Largest Convenience Retailer with over 71,100 locations in 20 countries globally and 13,000 located in US and Canada Largest Convenience Retailer in the US by more than 5,000+ stores Ranks #261 on Forbes “World’s Largest Companies” in 2022 with $78.5 billion in revenue and a Market Cap of $38.08 billion Seven & I Holdings, 7-Eleven’s parent company, plans to double its store count in the U.S. by 2027 #9 on the Franchise 500 Ranking in 2022 by Entrepreneur.com 7-Eleven honored with the “Best Overall Digital Transformation” award at the 2022 Modern Retail Awards

Exclusively Listed By

  • Sonny Molloy

    Senior Managing Director Investments

    (678) 808-2763

    Email Sonny

    License(s): GA: 249161, NC: 262596

    Atlanta

  • Jared M. Kaye

    First Vice President Investments

    (678) 808-2821

    Email Jared

    License(s): GA: 348701, FL: SL3224428, SC: 129648, NV: S.0198902

    Atlanta

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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