Marcus & Millichap is pleased to present for sale the 7-Eleven Gas Station and Convenience Store Reposition or Development Opportunity on US Route 6 (GAR Highway) in Somerset, Massachusetts. The offering is a 3,180 square foot singletenant, free standing building on approximately 0.84 acres that was built in 2001. The 7-Eleven is not operational, however, the tenant is paying an annual rent of $195,800 through June 2020. There is a possibility to work with 7-Eleven on a buyout of the Lease. The Lease* is absolute net with all taxes, insurance, utilities, operating costs, and responsibility for interior and exterior on the Tenant. This is a fee simple transaction with land and improvements, as opposed to a ground lease sale, which is common with convenience store net leased sales.
The Offering represents an opportunity to reposition the building as a convenience store or to capitalize on the area’s strong demographics and proximity to highway access with new commercial development. The Property’s location is poised to be a destination area for the local residents and is only 4 miles from Fall River, Massachusetts and 14 miles southeast of Providence, Rhode Island. The population within a five-mile radius is over 137,000 residents with average incomes nearly $70,000 within a one-mile radius.
Ability to collect positive cashflow for one and a half years while executing a re-tenant scenario or determining a redevelopment strategy
Purchase Options:
• Option 1: Collect rent from 7-Eleven until June 2020 and re-tenant or redevelop the site after lease expiration
• Option 2: Collect rent from 7-Eleven while searching for a new tenant and work with 7-Eleven on an early lease buyout
• Option 3: Collect rent from 7-Eleven during permitting for redevelopment and work with 7-Eleven on an early lease buyout
Located at a signalized hard corner
• Grand Army of the Republic (GAR) Highway: ±18,000 VPD
• Lees River Avenue: ±8,500 VPD
Direct access to Interstate 195 South via Lees River Avenue
Centrally located between Swansea Mall (510,000 square feet), Target, Marshalls, Walmart Supercenter (2 miles west) and Home Depot, Stop & Shop, Ocean State Job Lot, Planet Fitness and more (1 mile east)
Dark 7 Eleven Redevelopment or User Opportunity in Somerset, MA - 1639 Grand Army of the Republic Highway Somerset, Massachusetts, 02726
