Newport Beach, CA - 7-Eleven

Description:

SRS National Net Lease Group is pleased to offer the rare opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, freestanding, coastal Orange County, 7-Eleven investment property located in Newport Beach, CA. 7-Eleven recently signed a new 10-year lease with 4 (5-year) options to extend, demonstrating their strong commitment to the site. The lease features 10% rental increases in year 6 of the initial term and at the beginning of each option period. The lease is corporate guaranteed by 7-Eleven, Inc., a globally recognized tenant with 67,000+ locations worldwide. The lease is NNN with minimal landlord responsibilities making it an ideal investment opportunity for a passive investor. The property has a rare dedicated parking field, offering space for up to 15 vehicles on the parking constrained corridor of Balboa Boulevard.

The subject property is located at the irreplaceable, signalized, hard corner intersection of W. Balboa Boulevard and 20th Street with over 21,000 vehicles passing by daily. West Balboa Boulevard is a transition street from Costa Mesa Freeway/State Highway 55 (141,000 VPD). 7-Eleven has excellent visibility with large amounts of street frontage and two points of ingress/egress making it easy for customers to access the site. The site is located in the heart of the Newport Peninsula within walking distance to the boardwalk, the Newport Pier, and restaurant and bars. The store is poised to capture strong demand from the daily through traffic and strong weekend crowds. The 5-mile trade is supported by a population of nearly 208,000 with an affluent average household income of $140,000. The immediate 1-mile average household income boasts a strong $179,000. Orange County is one of the most affluent and desirable regions in Southern CA, and is the third most densely populated county in the state of CA.

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Listing ID: a284o000000iB2wAAE