Auto Service - Gas-Conv

New Construction 15 Year Fee Simple 7-11

2448 Edwards Rd, Fort Pierce, FL 34982

Listing Price: $5,747,368

Cap Rate
4.75%
Tenant Name
7-Eleven
Years Remaining On Lease
14.90
Gross SF
3,990
Guarantor
Corporate Guarantee
Rentable SF
3,990
Price/Gross SF
$1,440.44
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.42

Investment Overview

Marcus & Millichap is pleased to present for sale this freestanding,
single-tenant 7-Eleven and Car Wash located in Fort Pierce,
Florida. Fort Pierce is on the East Coast of Florida, midway between
Miami and Orlando, roughly a two hour drive from each. This
is a brand new construction, fee simple, deal, with an expected
rent commencement on September 2020. The 15 year lease is
backed by 7-Eleven Corporate, and benefits from 10 percent rent
increases every five years, and four, five-year options to extend.
The subject property consists of a 3,000 square foot retail
building, a 990 square foot Car Wash, and 12 fueling stations
with ample parking on a large 2.3 Acre parcel of Land. It is
strategically located at the hard corner signalized intersection of
Edwards Road and 25th Street in Fort Pierce with traffic counts
exceeding 34,500 vehicles per day. 7-Eleven is the worlds
largest operator, franchisor and licensor of convenience stores
with approximately 65,000 stores in 18 countries. In the 10,500
stores in North America, 7-Eleven offers over 2,500 different
products and services.
This is an ideal passive investment opportunity with zero landlord
responsibilities backed by a very strong S&P AA- Rated Company.

Investment Highlights

  • 15 Year NNN Lease with 10% Increases Every 5 Years
  • Rare Fee Simple Lease Allowing for Accelerated Depreciation
  • Attractive Rent Growth
  • 7-Eleven Expected to Take Occupancy in September 2020
  • Strong Demographics | Average Household Income Exceeds $53,742 in a Mile Radius
  • Florida is a No Income Tax State

Exclusively Listed By

Auto Service - Gas-Conv

New Construction 15 Year Fee Simple 7-11

Listing Price: $5,747,368

Cap Rate
4.75%
Tenant Name
7-Eleven
Years Remaining On Lease
14.90
Gross SF
3,990
Guarantor
Corporate Guarantee
Rentable SF
3,990
Price/Gross SF
$1,440.44
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.42

Investment Highlights

  • 15 Year NNN Lease with 10% Increases Every 5 Years
  • Rare Fee Simple Lease Allowing for Accelerated Depreciation
  • Attractive Rent Growth
  • 7-Eleven Expected to Take Occupancy in September 2020
  • Strong Demographics | Average Household Income Exceeds $53,742 in a Mile Radius
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this freestanding,
single-tenant 7-Eleven and Car Wash located in Fort Pierce,
Florida. Fort Pierce is on the East Coast of Florida, midway between
Miami and Orlando, roughly a two hour drive from each. This
is a brand new construction, fee simple, deal, with an expected
rent commencement on September 2020. The 15 year lease is
backed by 7-Eleven Corporate, and benefits from 10 percent rent
increases every five years, and four, five-year options to extend.
The subject property consists of a 3,000 square foot retail
building, a 990 square foot Car Wash, and 12 fueling stations
with ample parking on a large 2.3 Acre parcel of Land. It is
strategically located at the hard corner signalized intersection of
Edwards Road and 25th Street in Fort Pierce with traffic counts
exceeding 34,500 vehicles per day. 7-Eleven is the worlds
largest operator, franchisor and licensor of convenience stores
with approximately 65,000 stores in 18 countries. In the 10,500
stores in North America, 7-Eleven offers over 2,500 different
products and services.
This is an ideal passive investment opportunity with zero landlord
responsibilities backed by a very strong S&P AA- Rated Company.

Exclusively Listed By

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