7-Eleven

31631 Florida 44, Pine Lakes, FL 32736

$6,696,000

Cap Rate 5.50%

Views: 114 DOM: 295 Updated: 09.05.24 Posted: 11.17.23 Status: Active 04.08.24

Summary

Price $6,696,000	Built/Renov 2023	Tenant 7-Eleven
Cap Rate 5.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,903	Lease Start 05-01-2024	#Units 83,282
Price/SF $1,365.69	Expiration 04-30-2039	Tenant Type Convenience/Gas
NOI $368,285	R. Term 14.7	Ownership Fee Simple
Rent/SF $75.11	Increases 10.0%/5/yrs	Pop 5Mi 5,708
Lot/AC 3.41	Options 4/5yrs/10%	AHHI 5Mi $75,856

Lease Highlights

Brand-new, state-of-the-art construction featuring 7-Eleven’s latest prototype
7-Eleven recently signed a brand-new 15-year lease with 4 (5-year) options
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

7-Eleven is strategically located on State Road 44, with excellent access and visibility to 12,400 vehicles passing by daily. This prime location stands as the sole gas station for over 15 miles when traveling east/northeast on Highway 44/State Rd 44. Additionally, it is surrounded by well-known national tenants, including Dollar General and Circle K. The 5-mile trade area is supported by a...

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Key Features

New construction
Strategically located
Highway location
Top 100 MSA
Income tax free state
Brand new lease
Absolute NNN
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Pine Lakes, Florida Zip Code 32736 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: 7-Eleven
Guarantor:Corp T and Rated
Company:Seven & I Holdings Co., Ltd
# Units:83,282
Tenant S&P: A
Moody’s: Baa2
Stock: OTCMKTS: SVNDY

About Tenant

7-Eleven is the world's largest operator, franchisor, and licensor of convenience stores. It operates, franchises, and/or licenses more than 83,000 stores in 19 countries, including over...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	996	3,651	5,904
2023 Total Population :	982	3,543	5,708
2023 Employed Civilian Pop :	414	1,581	2,645
2023 Total Businesses :	15	37	74
2023 Average Household Income :	$ 65,506	$ 69,704	$ 75,856
2023 Total Consumer Spending :	$ 22 M	$ 83 M	$ 151 M
2023 Median Age :	45	45	47
2023 Total Households :	389	1,363	2,275
2023 Pop Age 25+: Bachelor's Degree :	94	383	616
2023 Average Home Value :	$ 228,155	$ 273,480	$ 276,505

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lake Dr	Overlook Dr	2012	735	0.34 mi
Country Rd	Oak Ave	2012	735	0.36 mi
State Hwy 44	Rory Ln	2012	5,758	0.88 mi
Royal Trails Rd	Poinciana St	2012	1,344	1.60 mi
State Route 44	Royal Trails Rd	2022	8,500	1.85 mi
Royal Trails Rd	Violet Ave	2011	1,533	2.05 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

175 Listings
18667 Views
22 Sold

Aron Cline

Berkeley Capital Advisors

Contact

168 Listings
18044 Views
20 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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