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3311 S 700 E 3,025 SF Retail Building Salt Lake City, UT 84106 $2,363,000 ($781.16/SF) 5.25% Cap Rate
Investment Highlights
- Recent Lease Extension - 11+ Lease Years Remaining - One 5-Year Option
- Largest C-Store Brand Worldwide – Over 13,000 Stores in U.S and Canada
- Below Market Rent and Low Price Point – Low Downside Risk & Long Term Upside
- Investment Grade Credit Rating S&P: A (Moody’s: Baa2)
- Located in Community of Millcreek in Salt Lake City MSA Population Exceeding 1.2M
Executive Summary
7-Eleven has occupied the subject property since 2012 and the lease has over 11 years remaining in the primary term. With a corporate signed lease, strong rent increases and NNN Lease with Landlord only responsible for structure and foundation this asset is ideal for an investor seeking passive cash flows for years to come.
The 3,025 SF building on 0.61-acre parcel with 6 fuel pumps is located on the hard corner signalized intersection of 3300 South & South 700 East which has a combined traffic count exceeding 58,800 VPD and prospers from great visibility and access. Nearby retailers include The Home Depot, Harmons Grocery, Rancho Markets, HomeGoods, Walgreens, Wells Fargo, Chase Bank, McDonald’s, Starbucks, Burger King and more.
This is an excellent opportunity to acquire a net leased 7-Eleven with a recently renewed lease, an option to extend, rent increases, corporate guarantee, and limited landlord responsibilities, providing years of inflation resistant income.
Property Facts
Amenities
- Corner Lot
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
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$9.99
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Lorem Ipsum
-
Jan 0000
7-Eleven began in 1927 as an ice vendor in Dallas, Texas called Southland Ice Company. It eventually started selling food items like bread, milk, and eggs, which led to the first convenience stores. The name changed to 7-Eleven in 1946 to reflect the extended hours from 7 am to 11 pm. 7-Eleven grew rapidly in the following decades, pioneering ideas like 24/7 stores and to-go coffee. While it started in the US, it now has a significant global presence with stores in many countries. The stores sell a variety of products including snacks, beverages, prepared foods, and gasoline.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $443,900 | |
| Land Assessment | $1,937,900 | Total Assessment | $2,381,800 |
Property Taxes
Presented by
3311 S 700 E
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