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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
The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to purchase a corporate 7-Eleven (c-store & gas station) in Salt Lake City, UT. 7-Eleven is the largest convenience store in the world with over 13,000 stores in the U.S. and Canada (78,000 globally) and has an investment grade credit rating of A from S&P (Moody’s: Baa2).
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.
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
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
3,025 SF
Building Class
C
Year Built
1997
Price
$2,363,000
Price Per SF
$781.16
Cap Rate
5.25%
NOI
$124,080
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.61 AC
Zoning
C-2 - Commercial
Parking
10 Spaces (3.31 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
7-Eleven began in 1927 as the Southland Ice Company in Dallas and later grew into the 7-Eleven convenience brand. The company operates convenience retail stores and a franchise system, with banners and brands that include Speedway, Stripes, Laredo Taco Company, and Raise the Roost Chicken & Biscuits, while also offering signature food and drink items such as Slurpee and Big Gulp beverages. 7-Eleven continues as a global convenience retailer and remains focused on fast, everyday shopping across a wide network of stores.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $443,900 | |
| Land Assessment | $1,937,900 | Total Assessment | $2,381,800 |
Property Taxes
Parcel Numbers
Land Assessment
$1,937,900
Improvements Assessment
$443,900
Total Assessment
$2,381,800
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3311 S 700 E
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