7-Eleven (GL)

4301 West Hillsborough Avenue, Tampa, FL 33614

$3,490,000

Cap Rate 5.20%

Views: 97 DOM: 196 Updated: 10.25.24 Posted: 05.03.24 Status: Active 10.16.24

Summary

Price $3,490,000	Built/Renov 2005/2017	Tenant 7-Eleven (GL)
Cap Rate 5.20%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,040	Lease Start 03-29-2016	#Units 83,282
Price/SF $863.86	Expiration 03-28-2031	Tenant Type Convenience/Gas
NOI $181,500	R. Term 6.4	Ownership Ground Lease
Rent/SF $44.93	Increases 10.0%/5/yrs	Pop 5Mi 297,835
Lot/AC 2.67	Options 4/5yrs/10%	AHHI 5Mi $90,224

Lease Highlights

7-Eleven has 6+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the primary term and at the beginning of each option to extend
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located near the signalized, hard corner intersection of W. Hillsborough Ave/State Highway 580, with access to a combined daily traffic count of 68,500 vehicles. The property is surrounded by well-known national tenants including McDonald's, Walgreens, Crunch Fitness, O'Reilly's, Dunkin Donuts, and more. Additionally, it is adjacent to Tampa International Airport, and...

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Key Features

Build to suit
High traffic 50M+ VPD
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Income tax free state
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Tampa, Florida Zip Code 33614 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 :	9,085	96,708	302,054
2023 Total Population :	9,147	96,219	297,835
2023 Employed Civilian Pop :	4,560	53,098	165,905
2023 Total Businesses :	1,046	8,334	23,458
2023 Average Household Income :	$ 66,034	$ 73,998	$ 90,224
2023 Total Consumer Spending :	$ 202 M	$ 2565 M	$ 9648 M
2023 Median Age :	40	38	39
2023 Total Households :	3,425	39,390	122,752
2023 Pop Age 25+: Bachelor's Degree :	917	14,365	50,835
2023 Average Home Value :	$ 350,098	$ 369,530	$ 403,456

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Hillsborough Avenue	N Lois Ave	2022	66,000	0.06 mi
N Lois Ave	W Comanche Ave	2013	10,000	0.15 mi
W Hillsborough Ave	N Hesperides St	2015	61,294	0.16 mi
West Henry Avenue	N Hubert Ave	2022	5,300	0.21 mi
W Henry Ave	N Hubert Ave	2011	4,000	0.22 mi
N Hesperides St	W Henry Ave	2011	2,860	0.36 mi
W Hillsborough Ave	N Church Ave	2016	67,500	0.44 mi
Anderson Ave	W South Ave	2015	17,254	0.46 mi
N Church Ave	W Powhatan Ave	2011	3,850	0.51 mi
Anderson Rd	W Hillsborough Ave	2016	9,600	0.53 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20377 Views
49 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
26688 Views
93 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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