7-Eleven | Brand New Construction | 15 Year NNN Lease | Large 2.11 Acre Parcel

36536 S Fish Camp Rd, Grand Island, FL 32735, USA
$9,748,179

Description

Marcus & Millichap is pleased to present for sale this freestanding, single-tenant 7-Eleven located in Eustis, Florida. Eustis is in Lake County and part of the Orlando-Kissimme-Sanford MSA. The fee simple lease, backed by 7-Eleven Corporate, will have a 15-year lease with 10 percent increases in rent every five years and four, five-year options to extend with an expected rent commencement of October 2022. This is an ideal passive investment opportunity with zero landlord responsibilities being offered at a 3.90 percent capitalization rate.
The subject property consists of a 4,597 square foot retail space, a single row canopy with eight dispensers (16 fueling stations) with ample parking on a large 2.11-acre parcel and site layout allowing for boat fueling. It is strategically located at the signalized hard corner of State Road 44 and Fish Camp Road with 16,200 vehicles per day. The property benefits from the 54,693 residents in a 5-mile radius and an average household income of $93,814 in the immediate area. The area is projected to see explosive growth of 13 percent by 2026.
The 7-Eleven is situated between two boatable lakes with multiple boat ramps less than one mile away. Lake Eustis is a 7,000-acre lake is the center lake in the vast Harris Chain of Lakes. To the north is Lake Yale a 4,020-acre lake. Floridians and visitors frequently sail and fish on these lakes.
7-Eleven is the world’s largest operator, franchisor and licensor of convenience stores with approximately 68,000 stores in 18 countries. In the 10,500 stores in North America, 7-Eleven offers over 2,500 different products and services.

  • 15 Year Absolute NNN Lease with 10% Increases Every 5 Years
  • Brand New Construction 7-Eleven Corporate Guarantee | 68,000+ Locations and S&P Credit Rating: AA-
  • Large 2.11 Acre Parcel
  • Attractive Rent Growth | 10% Increases Every 5 Years
  • Growing Market | Population Projected to Grow 13% by 2026
  • Above Average Household Income Exceeding $93,814 in a One-Mile Radius
  • Situated between Two Lakes | Lake Eustis (7,000 acres) and Lake Yale (4,020 acres)
  • Rent Commencement Expected in October 2022
  • Pump Layout Allows For Boat Fueling
  • Florida is a “No Income Tax State”

Property Documents

  • City: Eustis
  • State/county: Florida
  • Zip/Postal Code: 32735
  • Country: United States

Detail

  • Price: $9,748,179
  • Year Built: 2022

Additional details

  • CAP RATE: 3.90%
  • NOI: $380,179

Features