Your email has been sent.
7-Eleven 702 S 50th St 3,121 SF Retail Building Tampa, FL 33619 $6,380,000 ($2,044.22/SF) 5% Cap Rate
Investment Highlights
- BONUS DEPRECIATION ELIGIBLE
- INFILL LOCATION
- RECENT 15-YEAR SALE-LEASEBACK
Executive Summary
- The sale offers land and improvements, allowing for buyer to take 100% Bonus Depreciation
GREAT LEASE FUNDAMENTALS
- 15 Year Lease with 10% bumps every 5 years and in extension periods
- Abs. NNN lease providing zero landlord responsibilities
- Passive investment
CORPORATE BACKED INVESTMENT GRADE TENANT
- 7-Eleven’s parent company, Seven-Eleven Japan Co, LTD has a market cap of $37.18B (Ticker: SVNDY)
- There are over 83,000 locations across the world
HIGH VISIBILITY OFF BUSY US HWY 41
- In the Top 30% of Convenience Stores Nationwide (Placer.ai)
- Excellent exposure along a major retail and commuter corridor
- Located on a hard corner, the site provides unmatched visibility and access along US Hwy 41 with 33,000 VPD
INFILL LOCATION
- 5 miles from downtown Tampa
- Within a 1-mile radius the retail vacancy rate sits at 0% while multifamily rent growth YoY is up 8.8%
- Site benefits from a limited retail supply pipeline and the dense residential neighborhoods of East Tampa
RETAIL SYNERGY & YOUNG DEMOGRAPHICS
- The immediate trade area serves a younger population with Tampa seeing outsized growth in residents age 25- 44 a demographic that over indexes on convenience retail, prepared food and grab-and-go purchases
- Proximity to University of South Florida and surrounding campuses stable young professional presence & reinforce long term consumer demand
RECENT 15-YEAR SALE-LEASEBACK AT LOCATION
- 7-Eleven recently executed a new 15-year NNN sale-leaseback at this location, demonstrating their commitment and long-term viability at the site
Property Facts
Amenities
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- 3,121 SF
- -
- Dec 2040
7-Eleven began in 1927 and grew from an early convenience concept into a global convenience retailer. The company operates, franchises, and licenses a broad store network in the United States and Canada, and its brand family includes Speedway, Stripes, Laredo Taco Company, and Raise the Roost Chicken and Biscuits. 7-Eleven also offers proprietary services and products such as 7NOW, 7Rewards, Speedy Rewards, and 7-Eleven Fleet, reflecting a business that spans retail, foodservice, fuel, and digital convenience. The company presents itself as the world’s first convenience retailer and continues to focus on serving customer needs across its store and brand portfolio.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 3,121 SF | - | Dec 2040 |
Property Taxes
| Parcel Number | U-22-29-19-ZZZ-000001-49900.0 | Improvements Assessment | $379,620 |
| Land Assessment | $276,180 | Total Assessment | $655,800 |
Property Taxes
Contacts
-
Eric Suffoletto -
David Hoppe -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Kendra Doherty -
Connor Kuchman -
Atlantic Capital Partners
Presented by
7-Eleven | 702 S 50th St
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.