Just Listed! 7-Eleven in Bradenton, Florida
■ 15-Year Absolute NNN Lease with 10% Increases Every
■ Brand New Construction 7-Eleven Corporate Guarantee |
68,000+ Locations and S&P Credit Rating: AA-
■ Large 3.37 Acre Parcel
■ Attractive Rent Growth | 10% Increases Every 5 Years |
Blended Cap Rate of 5.18% Over Base Term of Lease
■ Growing Market | Population Projected to Grow 25% by
2025 in a 5-Mile Radius
■ Average Household Income within 1-Mile Radius is Over
■ Top 25 Fastest Growing City in the Country
■ Lakewood Ranch named Best Selling Multi-Generational
Planned Community in the Country
■ Proximity to Sarasota, Tampa and St. Petersburg
■ Rent Commencement Expected in May
Marcus & Millichap is pleased to present for sale this freestanding, single-
tenant 7-Eleven located in Bradenton, Florida. Bradenton is in Manatee
County located 11 miles east of Sarasota, and 53 miles south 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 May
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 4,634 square foot retail space, a single-
row canopy with eight dispensers (16 fueling stations) and a 980 square
foot car wash and with ample parking on a large 3.37-acre parcel. It
is strategically located on the northwest corner of State Road 64 and
Lorraine Road with a combined traffic count of 19,600 vehicles per day.
The property benefits from the 54,192 residents within a 5-mile radius
with an expected 25 percent population growth by 2025.
According to Forbes magazine, the North Port-Sarasota-Bradenton MSA
is ranked #24 in its annual list of America’s 100 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
their list. Specifically, the Lakewood Ranch planned community within
Bradenton is growing at a faster pace the already expanding Gulf Coast
MSA. Lakewood Ranch has been named the best selling multi-generational
planned community in the country with 17 villages to choose from and five
new villages and apartment communities having opened in 2020. It also
has the ability to offer up to 14 million square feet of commercial real
estate space and is home to 1,350 businesses across a variety of sectors,
including biomedical, technology, insurance and education.
There are numerous National and Regional retailers in the immediate
area including Publix, McDonald’s, CVS, Wawa, Walgreens, Speedway,
SunTrust, Bank of America, Chase Bank 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.