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7-Eleven 150 Pinellas Bayway S 3,729 SF Office Building Tierra Verde, FL 33715 $6,170,000 ($1,654.60/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-term absolute NNN lease with ±14.8 years of primary term remaining
- Adjacent to Tierra Verde Marina undergoing $33M expansion
- Strong demographics with $195K AHHI within 1-mile radius
- Sole gas station and convenience store on Tierra Verde island
- Along Pinellas Bayway, the only route to the islands of Fort De Soto Park
- Tierra Verde is one of Tampa's wealthiest communities
EXECUTIVE SUMMARY
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the 7-Eleven located at 150 Pinellas Bayway S in Tierra Verde, Florida (“Property” or “Asset”). 7-Eleven is operating on a long term, 15-year absolute NNN lease with zero landlord responsibilities and 10.0% rent increases starting in year 11 and continuing at each of the five, five-year renewal options.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
3,729 SF
Building Class
C
Year Built
1984
Price
$6,170,000
Price Per SF
$1,654.60
Cap Rate
5%
NOI
$308,586
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,729 SF
Building FAR
0.17
Lot Size
0.49 AC
Zoning
C-2
AMENITIES
- 24 Hour Access
- Signage
- Kitchen
- Direct Elevator Exposure
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PROPERTY TAXES
| Parcel Number | 17-32-16-90828-000-0050 | Improvements Assessment | $578,402 |
| Land Assessment | $521,598 | Total Assessment | $1,100,000 |
PROPERTY TAXES
Parcel Number
17-32-16-90828-000-0050
Land Assessment
$521,598
Improvements Assessment
$578,402
Total Assessment
$1,100,000
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7-Eleven | 150 Pinellas Bayway S
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