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Speedway (7-Eleven) | Absolute NNN GL 440 Lake Ave 700 SF Retail Building Rochester, NY 14608 $1,150,000 ($1,642.86/SF) 6.25% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Ground Lease | 10% Increases at Each Option
- Strategic Rochester Location | Dense Retail Corridor
- Absolute NNN Ground Lease | Leased Fee Land Ownership | Zero Landlord Responsibilities
- Major Employment and Institutional Drivers Nearby
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the Leased fee interest (land ownership) in an absolute NNN leased, Speedway investment property located in Rochester, New York. The tenant, Speedway has over 4+ years of term remaining with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
700 SF
Building Class
B
Year Built
1999
Price
$1,150,000
Price Per SF
$1,642.86
Cap Rate
6.25%
NOI
$71,904
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.36 AC
Zoning
C-3 - Regional Destination Center
Frontage
49’ on Lake Ave
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Speedway is a U.S.-based convenience store and fuel station chain founded in 1952. Headquartered in Irving, Texas, the company operates thousands of locations across 34 states, offering gasoline, diesel, and a wide range of convenience products. Originally part of Marathon Petroleum, Speedway was acquired by Seven & I Holdings, the parent company of 7-Eleven, in 2021. The brand is known for its Speedy Rewards loyalty program and services such as car washes and ATMs. Speedway ranks among the largest convenience store chains in the country, focusing on high-volume self-service stations and integrated retail operations.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 261400-105-440-0001-024-000-0000 | Improvements Assessment | $463,000 |
| Land Assessment | $62,000 | Total Assessment | $525,000 |
Property Taxes
Parcel Number
261400-105-440-0001-024-000-0000
Land Assessment
$62,000
Improvements Assessment
$463,000
Total Assessment
$525,000
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