Investment Summary
Price | $5,445,000 |
Cap Rate | 4.50% |
NOI | $245,000 |
Lease Term | 15 years |
Lease Type | Absolute NNN lease, with tenant responsible for all taxes, insurance, maintenance, and repair, including roof, structure, and parking lot |
Rental Increases | 7.5% rental increases every five (5) years |
Year Built | 2023 |
Building Size | +/- 2,940 SF |
Lot Size | +/- 0.44 acres (19,166 SF) |
Status | Available |
Lead Brokers | Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Russell Train Brokerage 202.210.2379 russell.train@cushwake.com CA RE License #02087816 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN LEASE WITH INVESTMENT GRADE CREDIT
» New 15-year absolute NNN lease to an iconic corporate tenant
» 7-Eleven, Inc. is an investment grade tenant with an “A” rating from Standard & Poor’s
» 7-Eleven is the largest convenience retail chain in the world, with more than 78,000 stores worldwide
» 7.5% rental increases every five years
» Unique opportunity to own a 7-Eleven for less than $5,500,000 in an infill Los Angeles location
SIGNALIZED HARD-CORNER INFILL LOCATION WITH ACCESS TO DAILY COMMUTERS AND THOUSANDS OF STUDENTS WITHIN WALKING DISTANCE
» Convenient access and excellent visibility to Interstate 605 (291,000 AADT)
» Access to a combined 35,645 vehicles per day at the East Carson Street and Belshire Avenue signalized intersection
» Located near many dense retail centers featuring tenants including Food4Less, Lowe’s, Ross, Michaels, Regal Cinema, Chick-fil-A, In-N-Out, Starbucks, and many more
» Excellent location in an affluent commuter corridor, with proximity to several high-density single and multi-family developments
» Close to several schools and higher-education institutions, such as Cerritos High School (2,856 students), Artesia High School (1,431 students), Palms Elementary School (552 students), California State University – Long Beach (37,446 students), and Cypress College (16,214 students)
547,754 RESIDENTS WITHIN FIVE MILES AND AFFLUENT INCOMES OF $143,954 PER HOUSEHOLD WITHIN THREE MILES
» Close proximity to The Gardens Casino, one of the most popular casinos in the city with 300+ tables and amassing more than 65% of the city’s revenue
» $143,954 average annual household income within a three-mile radius (projected 15% increase by 2028)
» 547,754 residents with an AHHI of $131,078 live within five miles of the property
» Well-positioned less than 25 miles from Los Angeles (3.9M residents) and Long Beach (439,153 residents)
NEW 2023 BUILD-TO-SUIT CONSTRUCTION
» High-quality 2023 build-to-suit construction featuring 4 gas pumps and a freestanding convenience store, providing additional customer convenience and boosting sales revenue
» Qualifies for bonus depreciation*
Property Description
» Excellent Location: This 7-Eleven is located conveniently near the East Carson Street and Bellshire Avenue signalized intersection with excellent visibility and access to more than 35,645 vehicles per day
» Beneficial Proximity to Highly Trafficked Los Angeles Thoroughfare: The site is in an easily accessible location for Los Angeles County residents who commute to work and school and maintains beneficial proximity to Interstate 605 (291,000 AADT)
» Reliable and Large Customer Base: The property is close to several schools including Cerritos High School (2,856 students), Artesia High School (1,431 students), Palms Elementary School (552 students), California State University – Long Beach (37,446 students), and Cypress College (16,214 students)
» Positioned in a Densely-Populated City: 206,465 residents live within three miles of the site and 547,574 residents live within a five-mile radius
» Extremely Strong Demographics: Average annual household income within a three-mile radius of$143,954 is growing and projected to increase 15% by 2028, poising 7-Eleven and Sacramento for significant concurrent growth
» Based in The Greater Los Angeles Area: Greater Los Angeles is the second-largest metropolitan area in the United States with a population of more than 18.5M