7-Eleven,
Orlando, FL Investment Summary
| Price | $4,903,000 |
| Cap Rate | 4.75% |
| NOI | $232,865 |
| Lease Term | 15 Years |
| Lease Type | NNN, Tenant Responsible for All Taxes, Insurance, and Maintenance Including Roof and Structure |
| Rental Increases | 10% Rental Increases Every Five (5) Years, Starting in Year 11 |
| Year Built | 2021 |
| Building Size | 3,454 SF C-Store + 980 SF Car Wash |
| Lot Size | 1.52 acres (66,211 SF) |
| Status | Sold |
| Lead Brokers | Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 15-YEAR NET LEASE TO ICONIC CORPORATE TENANT
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» New 15-year absolute NNN lease with four (4) five (5) year options, creating a stable, long-term investment
» 10% rental increases every five years starting in year 11, providing a hedge against inflation
» Absolute NNN lease requires zero landlord management, making it an ideal for an out-of- area investor
» 7-Eleven is the largest convenience retail chain in the world, with more than 67,000 stores worldwide
HIGH-TRAFFIC LOCATION AT THE ENTRANCE TO A LARGE RESIDENTIAL DEVELOPMENT
» Excellent visibility and access to 18,000 vehicles per day in front of the store along State Route 520, which converges with East Colonial Drive (25,087 vehicles per day) less than a mile from the site
» State Route 520 connects coastal traffic from the Kennedy Space Center and Cape Canaveral Air Force Station (population of 10,449+) with Orlando, located 25 miles away from the site
» $98,620 Average Household Income within one mile of the property
» Average household income expected to Increase by more than 10% in the next five years poising the area for major growth
» The property is located next to a Family Dollar, which is the only general or grocery store within five (5) minutes of the area’s residential region
NEW Q1 2021 CONSTRUCTION AND DRIVE-THRU CAR WASH
» High-quality construction scheduled to be completed in early 2021
» Features six fuel pumps, a freestanding C-store, and a drive-thru car wash for added customer convenience
Property Description
SOLD
The property is strategically located just off the signalized intersection of State Route 520 and Maxim Parkway, with excellent visibility and access to 18,000 vehicles per day. The surrounding area is affluent with an average household income within one mile of the property of $98,620. The average household income is expected to increase by more than 10% in the next five (5) years poising the area for major growth. State Route 520 is major east-west highway connecting Orlando to the coast and becomes one of the main commercial corridors in Cocoa, Florida.
The property is ideally located at the entrance to a large residential development and is surrounded by many local attractions. The surrounding area has many wildlife areas including Tosohatchee Wildlife Management Area, Hal Scott Regional Preserve, and Pine Lily Preserve, which all draw visitors for outdoor recreational activities. The property is located next to a Family Dollar, which is the only general or grocery store within five (5) minutes of the area’s residential region.
