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13-Year 7-Eleven - Tacoma, WA

8306 Tacoma Mall Blvd, Lakewood, WA 98499

Listing Price: $7,000,000

Cap Rate
4.00%
Tenant Name
7-Eleven
Years Remaining On Lease
12.9
Gross SF
2,823
Guarantor
Corporate Guarantee
Rentable SF
2,823
Price/Gross SF
$2,479.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$88.56

Investment Overview

Marcus & Millichap presents for sale the 7-Eleven on Tacoma Mall Boulevard, in Tacoma, WA. The building has over 2,800 square feet of rentable area and sits on a 1.21 acre lot. This property is conveniently located on a busy, signalized corner at Tacoma Mall Blvd and 84th Street; it is also at the entrance of Interstate 5. Tacoma Mall Blvd and 84th Street have a combined count of 13,800 vehicles per day in front of the property location. 7-Eleven has 13 years remaining on the lease at this location, as well as a great credit rating with the S&P of AA-. Rents increase every five years by 10%. The lease also allows four, five-year options with 10% rent increases at options one and two, followed by a fair market evaluation on rents for options three and four. The seller for this property will be giving a seller payback amount of $30,000 annually for the first three years to the new buyer, which brings the cap rate for this property to 4.00%.

Investment Highlights

  • Long Lease - 13 Years Remaining on 7-Eleven Lease with 10% Increase Every 5 Years
  • Seller to Pay $30,000 Each Year to Buyer as Seller Payback for First Three Years
  • Lease Has Four, Five-Year Options with Increases at Each Option
  • 7-Eleven has an S&P Credit Rating of AA-
  • Tacoma Mall Blvd and 84th Street Have a Combined Count of 23,300 Vehicles Per Day
  • Property Is Highly Visible from Interstate 5 Which Has over 167,000 VPD
  • Convenient Location Near Interstate 5 and on Corner of 84th Street and Tacoma Mall Blvd

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s) WA: 25469

    Washington

Auto Service - Gas-Conv

13-Year 7-Eleven - Tacoma, WA

Listing Price: $7,000,000

Cap Rate
4.00%
Tenant Name
7-Eleven
Years Remaining On Lease
12.9
Gross SF
2,823
Guarantor
Corporate Guarantee
Rentable SF
2,823
Price/Gross SF
$2,479.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$88.56

Investment Highlights

  • Long Lease - 13 Years Remaining on 7-Eleven Lease with 10% Increase Every 5 Years
  • Seller to Pay $30,000 Each Year to Buyer as Seller Payback for First Three Years
  • Lease Has Four, Five-Year Options with Increases at Each Option
  • 7-Eleven has an S&P Credit Rating of AA-
  • Tacoma Mall Blvd and 84th Street Have a Combined Count of 23,300 Vehicles Per Day
  • Property Is Highly Visible from Interstate 5 Which Has over 167,000 VPD
  • Convenient Location Near Interstate 5 and on Corner of 84th Street and Tacoma Mall Blvd

Investment Overview

Marcus & Millichap presents for sale the 7-Eleven on Tacoma Mall Boulevard, in Tacoma, WA. The building has over 2,800 square feet of rentable area and sits on a 1.21 acre lot. This property is conveniently located on a busy, signalized corner at Tacoma Mall Blvd and 84th Street; it is also at the entrance of Interstate 5. Tacoma Mall Blvd and 84th Street have a combined count of 13,800 vehicles per day in front of the property location. 7-Eleven has 13 years remaining on the lease at this location, as well as a great credit rating with the S&P of AA-. Rents increase every five years by 10%. The lease also allows four, five-year options with 10% rent increases at options one and two, followed by a fair market evaluation on rents for options three and four. The seller for this property will be giving a seller payback amount of $30,000 annually for the first three years to the new buyer, which brings the cap rate for this property to 4.00%.

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s): WA: 25469

    Washington

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