Auto Service - Gas-Conv

Brand New Construction 15 Year Fee Simple 7-Eleven

Listing Price: $6,210,355

Cap Rate
4.80%
Tenant Name
7-Eleven
Years Remaining On Lease
14.80
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$1,774.39
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$85.17

Investment Overview

Marcus & Millichap is pleased to present for sale this freestanding,
single-tenant 7-Eleven located in Lake Alfred, Florida. Lake Alfred is
in Polk County located 40 miles southwest of Orlando and 55 miles
east of Tampa. The fee simple lease, backed by 7-Eleven Corporate,
will have a 15-year lease with 10 percent increases in rent every
five years and four, five-year options to extend with an expected rent
commencement of July 2020. This is an ideal passive investment
opportunity with zero landlord responsibilities being offered at a 4.80
percent capitalization rate.
The subject property consists of a 3,500 square foot retail space, a
single-row canopy with seven dispensers (14 fueling stations) and
a 1,000 square foot car wash and with ample parking on a 1.32-
acre parcel. It is strategically located on Pomelo Street with direct
access from North Lake Shore Way and Shinn Boulevard (State Road
17) with a combined traffic count of 45,800 vehicles per day. The
property benefits from the 64,326 residents within a five mile radius
with an expected 6 percent population growth by 2024.
According to Forbes magazine, Lakeland-Winter Haven MSA is ranked
#14 in its annual list of Americas fastest-growing cities. Forbes looks
at growth of population, employment, wages, economic output and
used home price growth as a proxy for wealth when creating the
list. Winter Haven is home to Legoland Florida Resort with over 15.7
Million visitors annually (2019) and is only 11 miles south of the
subject property.
There are numerous National and Regional retailers in the immediate
area including Dunkin, Dollar General, Family Dollar, Centerstate
Bank, Wells Fargo, Hardees, NAPA Auto Parts among others.
7-Eleven is the worlds largest operator, franchisor and licensor of
convenience stores with approximately 68,000 stores in 18 countries.
In the 10,500 stores in North America, 7-Eleven offers over 2,500
different products and services.

Investment Highlights

  • 15 Year Absolute NNN Lease with 10% Increases Every 5 Years
  • Growing Market | Population Projected to Grow 6% by 2024 in a 5-Mile Radius
  • Less Than Three Miles from the Winter Haven Regional Airport | Average of 164 Flights
  • Proximity to Legoland Florida Resort | Eleven Miles from Winter Haven
  • Rent Commencement Expected in July 2020
  • Florida is a No Income Tax State

Exclusively Listed By

Auto Service - Gas-Conv

Brand New Construction 15 Year Fee Simple 7-Eleven

Listing Price: $6,210,355

Cap Rate
4.80%
Tenant Name
7-Eleven
Years Remaining On Lease
14.80
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$1,774.39
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$85.17

Investment Highlights

  • 15 Year Absolute NNN Lease with 10% Increases Every 5 Years
  • Growing Market | Population Projected to Grow 6% by 2024 in a 5-Mile Radius
  • Less Than Three Miles from the Winter Haven Regional Airport | Average of 164 Flights
  • Proximity to Legoland Florida Resort | Eleven Miles from Winter Haven
  • Rent Commencement Expected in July 2020
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this freestanding,
single-tenant 7-Eleven located in Lake Alfred, Florida. Lake Alfred is
in Polk County located 40 miles southwest of Orlando and 55 miles
east of Tampa. The fee simple lease, backed by 7-Eleven Corporate,
will have a 15-year lease with 10 percent increases in rent every
five years and four, five-year options to extend with an expected rent
commencement of July 2020. This is an ideal passive investment
opportunity with zero landlord responsibilities being offered at a 4.80
percent capitalization rate.
The subject property consists of a 3,500 square foot retail space, a
single-row canopy with seven dispensers (14 fueling stations) and
a 1,000 square foot car wash and with ample parking on a 1.32-
acre parcel. It is strategically located on Pomelo Street with direct
access from North Lake Shore Way and Shinn Boulevard (State Road
17) with a combined traffic count of 45,800 vehicles per day. The
property benefits from the 64,326 residents within a five mile radius
with an expected 6 percent population growth by 2024.
According to Forbes magazine, Lakeland-Winter Haven MSA is ranked
#14 in its annual list of Americas fastest-growing cities. Forbes looks
at growth of population, employment, wages, economic output and
used home price growth as a proxy for wealth when creating the
list. Winter Haven is home to Legoland Florida Resort with over 15.7
Million visitors annually (2019) and is only 11 miles south of the
subject property.
There are numerous National and Regional retailers in the immediate
area including Dunkin, Dollar General, Family Dollar, Centerstate
Bank, Wells Fargo, Hardees, NAPA Auto Parts among others.
7-Eleven is the worlds largest operator, franchisor and licensor of
convenience stores with approximately 68,000 stores in 18 countries.
In the 10,500 stores in North America, 7-Eleven offers over 2,500
different products and services.

Exclusively Listed By

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