Fee Simple NNN 7-Eleven | New Construction 2020

2448 Edwards Rd, Fort Pierce, FL 34982, USA
$5,747,368

Description

Marcus & Millichap is pleased to present for sale this freestanding, single-tenant 7-Eleven and Car Wash located in Fort Pierce, Florida. Fort Pierce is on the East Coast of Florida, midway between
Miami and Orlando, roughly a two hour drive from each. This is a brand new construction, fee simple, deal, with an expected rent commencement on September 2020. The 15 year lease is
backed by 7-Eleven Corporate, and benefits from 10 percent rent increases every five years, and four, five-year options to extend.
The subject property consists of a 3,000 square foot retail building, a 990 square foot Car Wash, and 12 fueling stations with ample parking on a large 2.3 Acre parcel of Land. It is strategically located at the hard corner signalized intersection of Edwards Road and 25th Street in Fort Pierce with traffic counts exceeding 34,500 vehicles per day. 7-Eleven is the world’s largest operator, franchisor and licensor of convenience stores with approximately 65,000 stores in 18 countries. In the 10,500 stores in North America, 7-Eleven offers over 2,500 different products and services.
This is an ideal passive investment opportunity with zero landlord responsibilities backed by a very strong S&P AA- Rated Company.

  • 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-
  • Rare Fee Simple Lease Allowing for Accelerated Depreciation
  • Attractive Rent Growth | 10% Increases Every 5 Years
  • Strong Demographics | Average Household Income Exceeds $53,742 in a Mile Radius
  • 7-Eleven Expected to Take Occupancy in September 2020
  • Florida is a “No Income Tax State”

Property Documents

  • City: Fort Pierce
  • State/county: Florida
  • Zip/Postal Code: 34982
  • Country: United States

Detail

  • Price: $5,747,368
  • Year Built: 2020

Additional details

  • CAP RATE: 4.75%
  • NOI: $273,000

Features