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7-Eleven | New 15yr Abs NNN w/ Incrs 6270 150th Ave N 2,643 SF Retail Building Clearwater, FL 33760 $3,495,000 ($1,322.36/SF) 5% Cap Rate

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Investment Highlights

New, 15-Year Lease | Options To Extend | Scheduled Rental Increases
US Highway 19 (103,000 VPD) | Tri-City Plaza | Dense Retail Corridor

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, 7-Eleven investment property located in Satellite Beach, Florida. The tenant, 7-Eleven, recently signed a brand new, 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 2% rental increase in year 2 and 10% rental increases in year 11 and 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 a passive investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Convenience Store

Building Size

2,643 SF

Building Class

Year Built

1987

Price

$3,495,000

Price Per SF

$1,322.36

Cap Rate

NOI

$174,741

Tenancy

Single

Building Height

1 Story

Building FAR

0.10

Lot Size

0.58 AC

Zoning

CN - Commercial Neighborhood District

Parking

12 Spaces (4.54 Spaces per 1,000 SF Leased)

Frontage

172’ on 150th Ave

Corner Lot
Dedicated Turn Lane

Freeway Visibility
Pylon Sign

Signage

Signalized Intersection

Retailer
99,999 SF
-
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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.