Check out the construction progress for this 7-Eleven in Venice, Florida!
■ 15 Year Absolute NNN Lease with 10% Increases Every 5
■ Brand New Construction 7-Eleven Corporate Guarantee |
68,000+ Locations and S&P Credit Rating: AA-
■ Attractive Rent Growth | 10% Increases Every 5 Years |
Blended Cap Rate of 5.24% Over Base Term of Lease
■ Strong Demographics | Average Household Income Exceeds
$76,334 in a 5-Mile Radius
■ Growing Market | Population Projected to Grow 5% by 2024
in a 5-Mile Radius
■ Located within Historic Downtown Central Business District
of Venice| Many Boutiques, Antique Shops and Local Fine
Dining Options Located on Venice Avenue
■ Coastal Destination | Six Blocks from Gulf of Mexico
■ Under Two Miles From the Venice Municipal Airport | 473
Flights Per Day on Average
■ Seasonal Part-Time Residents “Snowbirds” Increase
Population in Venice by 25%
■ 7-Eleven Expected to Take Occupancy in March 2021
■ Florida is a “No Income Tax State”
Marcus & Millichap is pleased to present for sale this freestanding,
single-tenant 7-Eleven located in Venice, Florida. Venice is an affluent
area 18 miles south of Sarasota that is situated along the coast of the
Gulf of Mexico. 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 expected to commence in
March 2021. This is an ideal passive investment opportunity with zero
landlord responsibilities being offered at a four and three quarters
The subject property consists of a 3,109 square foot retail space and
12 fueling stations with ample parking on a 0.70-acre parcel. It is
strategically located within the historic downtown central business
district of Venice at the signalized hard corner of Venice Avenue
and North Tamiami Trail (US-41) with a combined traffic count of
45,200 vehicles per day. The property benefits from the 73,524
residents within a 5-mile radius and will continue to strengthen with
an expected 5 percent population growth by 2024. In addition, the
part-time seasonal ‘snowbird ́ residents increase the population by
an additional 25 percent for about half of the year.
According to Forbes magazine, North Port-Sarasota-Bradenton MSA
is ranked #13 in its annual list of America’s fastest-growing cities.
Forbes looks at growth of population, employment, wages, economic
output and used home price growth as a proxy for wealth when
creating the list.
There are numerous National and regional retailers in the immediate
area including Publix, Winn-Dixie, Bealls Outlet, Big Lots, McDonald’s,
Burger King, Arby’s, Circle K, Walgreens, Wells Fargo among others.
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.