Daytona Beach, FL - 7 Brew

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, freestanding, 7 Brew Coffee investment property located in Daytona Beach, Florida. The tenant, 7 Ventures, Inc., recently signed a brand new 20 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1% annual rental increases throughout the initial term and 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. 7 Brew Coffee is a rapidly growing brand with over 229 locations throughout the country. 7 Venture, Inc., is a subsidiary of K-MAC, a proven QSR operator with hundreds of Taco Bell locations and currently 35+ 7 Brew Coffee locations in the Southeast and Midwest.

7 Brew has excellent visibility and location near the signalized, hard corner intersection of LPGA Boulevard and N. Williamson Boulevard (combined 56,400 VPD). The asset will benefit tremendously from its position near the 400K+ square foot Tomoka Town Center. The retail center ranks in the top 98th percentile among shopping centers nationwide with 7.7M+ annual visits (per Placer.ai) and features national/credit tenants including Sam’s Club, Dave & Buster’s, Academy Sports + Outdoors, and Ross. Furthermore, the site is less than 1-mile from the Tanger Outlets, featuring 350K+ square feet of retail space occupied by major retailers including Nike, Ralph Lauren, Old Navy, Under Armour, and Adidas. The outlets receive 2.9M+ annual visits (per Placer.ai) and will promote further crossover retail exposure to the subject property, along with that derived from other nearby retailers including Costco, Home Depot, and Walmart Supercenter. The immediate area consists of a dense, coastal community which receives a significant amount of tourism from its location and the Daytona International Speedway, a world-famous motor sports complex less than 4-miles from the site. The 5-mile trade area is supported by a population of over 117,300 residents and 86,700 employees.