7-Eleven | Coin Laundry

2414-2418 N. Fruit Avenue, Fresno, CA

IN CONTRACT

$1,902,000

Price

5.35%

Cap Rate

$101,809

NOI

Overview
Cap Rate
5.35%
NOI
$101,809
Building Size
4,640 sqft
Lot Area
0.48 acres
Year Built
2001
Tenancy
Multiple
Description

• Two-Tenant 7-Eleven and Coin Laundry Shopping Center

• Both 7-Eleven and Coin Laundry have been Deemed Essential Businesses by the Government and are Allowed to Continue to Operate without any Pandemic-Related Restrictions

• Recent Lease Extension: 7-Eleven just electing to extend their lease early for an additional 5-years to 2028, demonstrating their commitment to this location

• 7-Eleven Recently Announced that it will Hire 20,000 New Employees Nationwide in Light of COVID-19

• Dual Income Stream: 7-Eleven (Investment Grade Tenant: S&P AA- Rated Credit Tenant) represents 75% of the net operating income with the Coin Laundromat making up the remaining 25% of the income stream, offering an investor a layer of protection

• Growing Income Stream: 7-Eleven’s lease provides for 10% rental increases in each of the four 5-year options and the laundromat offers 2% annual increases, offering a hedge against inflation

• Dense Infill Location: 20,000 people within a 1-mile radius

• Signalized Hard Corner Location: 24,000 vehicles per day at the intersection

• Internet Resistant Tenant Mix: Offering convenience and service-based solutions to the surrounding community

Documents
Title
CLICK HERE FOR COMPLETE OFFERING MEMORANDUM
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Location
Gallery