Clearwater, FL - 7-Eleven (150th Ave)

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, 7-Eleven investment property located in Satellite Beach, Florida. The tenant, 7-Eleven, recently signed a brand new, 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 2% rental increase in year 2 and 10% rental increases in year 11 and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The 7-Eleven is located at the signalized, hard corner intersection of 150th Avenue N and 62nd Street N providing the asset with excellent visibility and multiple points of ingress/egress. Additionally, the asset is located less than half a mile from US Highway 19, a major retail and commuter thoroughfare that averages over 103,000 vehicles passing by daily. The asset is located approximately 1 mile from Tri-City Plaza, a Publix and LA Fitness anchored center with other national/credit tenants including Burlington, Five Below, Petco, Dollar Tree, Chipotle, First Watch, Chili’s, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Wawa, McDonald’s, Starbucks, Moe’s, Jersey Mike’s, LongHorn Steakhouse, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 224,300 residents and 144,500 employees with an average household income of $91,993.

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Listing ID: a28TP0000023MCXYA2