Brand New Fee Simple 15 Year NNN 7-Eleven | 2020 Construction

E Co Rd 462 & Co Rd 466A, Wildwood, FL 34785, USA
$7,170,213

Description

Marcus & Millichap is pleased to present for sale this freestanding, single-tenant 7-Eleven located in Wildwood, Florida. Wildwood is in Sumter County located 51 miles northwest of Orlando, and 75 miles northeast of Tampa. 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 January 2021. This is an ideal passive investment opportunity with zero landlord responsibilities being offered at a 4.70 percent capitalization rate.
The subject property consists of a 3,520 square foot retail space, a two-row canopy with eight dispensers (16 fueling stations) and a 980 square foot car wash and with ample parking on a large 2.1-
acre parcel. It is strategically located near the signalized four-way intersection of County Road 466A and East County Road 462 with a combined traffic count of 40,100 vehicles per day. Located in a new, 154-acre mixed use development which features 133 single-family homes, 134 townhome lots, and 14 commercial lots. The property benefits from the 74,205 residents within a 5-mile radius with an average household income exceeding $77,343.
Wildwood borders The Villages which has held the number one ranking for fastest growing community in the nation for nine of the last ten years. The area is expected to continue to grow at record
rates with a 47 percent increase in a one-mile radius, 31 percent within a three-mile radius and 27 percent growth in a five-mile radius of the subject property by 2025.
There are numerous National and Regional retailers in the immediate area including Publix, Lowe’s, Aldi, Taco Bell, Burger King, Wendy’s, Winn-Dixie, Walgreens, Chase Bank, Bank of America, Wells Fargo among others.
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.

  • No Landlord Responsibilities | 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 2.1 Acre Parcel | Easy Truck Access
  • Attractive Rent Growth | 10% Increases Every 5 Years | Blended Cap Rate of 5.18% Over Base Term of Lease
  • The Villages Has Held the Number One Ranking for Fastest Growing Communities in the Nation for Nine of the Last Ten Years
  • Growing Market | Population Projected to Grow 27% by 2025 in a 5-Mile Radius
  • Located in a New, 154-Acre Mixed Use Development Featuring 133 Single-Family Homes, 134 Townhome Lots, and 14 Commercial Lots
  • Rent Commencement Expected in January 2021
  • Florida is a “No Income Tax State”

Property Documents

  • City: Wildwood
  • State/county: Florida
  • Zip/Postal Code: 34785
  • Country: United States

Detail

  • Price: $7,170,213
  • Year Built: 2020-11-06

Additional details

  • CAP RATE: 4.70
  • NOI: $337,000

Features