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7-Eleven (Prime Palm Beach County Location)

4001 Seminole Pratt Whitney Rd, Westlake, FL 33470

Listing Price: $14,400,000

Cap Rate
5.00%
Tenant Name
7-Eleven
Guarantor
Franchisee Guarantee
Rentable SF
4,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$160.00

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 7-Eleven in Westlake, Florida. This is a brand new, 15-year, triple net lease, commencing at close of escrow. This lease offers four, five-year tenant renewal options with 5 percent rent increases every five years throughout the base term and option periods. This is a new location, built in 2021 and includes a car wash, made-to-order food and 16 high-tech state-of-the-art fuel pumps. The 7-Eleven is conveniently located in Westlake, FL, Palm Beach County's newest city, currently building 4,500 homes, with hundreds of residents already in place. Westlake is also approved for 2.2 million square feet of commercial space. Minto Communities has unveiled plans for a 50-acre business park called Westlake Landings. Future developments include a 107,290-square-foot self-storage facility, a 14.5-acre site is planned for an Entertainment/Sports Concept, and a 17.5-acre property is slated for a flex office/warehouse project. Westlake, Florida is part of Palm Beach County, Florida’s third most populous county with 1.4 million people and is expected to add more than 97,000 citizens through 2023. Westlake is seven miles from Lion Country Safari, a drive-through safari park named The 3rd Best Zoo in the Nation by USA Travel Guide, and 18 miles from Downtown West Palm Beach, the largest city in Palm Beach County.

Investment Highlights

  • Brand New, 15-Year, Triple Net (NNN) Lease Commencing at Close of Escrow; Four, Five-Year Renewal Option Periods; Five Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Construction -- Opened September 3, 2021; Upgraded Building Which Includes Car Wash, Restaurant, Large Beer Cooler, High-End Coffee and Beverage Options
  • Experienced Operator With Long-Term Experience With 7-Eleven and Operating Convenience Stores
  • Investment Offers Opportunity for Bonus Depreciation--Contact Tax Advisor for Details
  • 4,500 Homes are Currently Being Built, With Hundreds of Residents Already in Place; Approved for 2.2 Million Square Feet of Commercial Space; 17.5-Acre Property is Slated for a Flex Office/Warehouse Project
  • Deerfield Beach-Based Konover South has Agreed to Buy 7 Acres from Minto in Order To Build Restaurant/Retail Buildings of 7,000 and 9,450 Square Feet Called the Shoppes of Westlake Landings

Exclusively Listed By

Auto Service - Gas-Conv

7-Eleven (Prime Palm Beach County Location)

Listing Price: $14,400,000

Cap Rate
5.00%
Tenant Name
7-Eleven
Guarantor
Franchisee Guarantee
Rentable SF
4,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$160.00

Investment Highlights

  • Brand New, 15-Year, Triple Net (NNN) Lease Commencing at Close of Escrow; Four, Five-Year Renewal Option Periods; Five Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Construction -- Opened September 3, 2021; Upgraded Building Which Includes Car Wash, Restaurant, Large Beer Cooler, High-End Coffee and Beverage Options
  • Experienced Operator With Long-Term Experience With 7-Eleven and Operating Convenience Stores
  • Investment Offers Opportunity for Bonus Depreciation--Contact Tax Advisor for Details
  • 4,500 Homes are Currently Being Built, With Hundreds of Residents Already in Place; Approved for 2.2 Million Square Feet of Commercial Space; 17.5-Acre Property is Slated for a Flex Office/Warehouse Project
  • Deerfield Beach-Based Konover South has Agreed to Buy 7 Acres from Minto in Order To Build Restaurant/Retail Buildings of 7,000 and 9,450 Square Feet Called the Shoppes of Westlake Landings

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 7-Eleven in Westlake, Florida. This is a brand new, 15-year, triple net lease, commencing at close of escrow. This lease offers four, five-year tenant renewal options with 5 percent rent increases every five years throughout the base term and option periods. This is a new location, built in 2021 and includes a car wash, made-to-order food and 16 high-tech state-of-the-art fuel pumps. The 7-Eleven is conveniently located in Westlake, FL, Palm Beach County's newest city, currently building 4,500 homes, with hundreds of residents already in place. Westlake is also approved for 2.2 million square feet of commercial space. Minto Communities has unveiled plans for a 50-acre business park called Westlake Landings. Future developments include a 107,290-square-foot self-storage facility, a 14.5-acre site is planned for an Entertainment/Sports Concept, and a 17.5-acre property is slated for a flex office/warehouse project. Westlake, Florida is part of Palm Beach County, Florida’s third most populous county with 1.4 million people and is expected to add more than 97,000 citizens through 2023. Westlake is seven miles from Lion Country Safari, a drive-through safari park named The 3rd Best Zoo in the Nation by USA Travel Guide, and 18 miles from Downtown West Palm Beach, the largest city in Palm Beach County.

Exclusively Listed By

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