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7-Eleven, Port St. Lucie, FL

7-Eleven

Port St. Lucie, FL 34983

Price $6,510,000
Cap Rate 4.50%
NOI $292,911
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years (After Initial 10 Years of Lease)
Year Built 2021
Building Size 3,454 SF
Lot Size 1.25 Acres (54,450 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE
» 7-Eleven is the largest convenience retail chain in the world, with more than 67,000 stores worldwide
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» New 15-year absolute NNN lease with four (4) five (5) year options
» 10% rental increases every five years, starting at year 11 providing a hedge against inflation
» New 2021 construction built to latest 7-Eleven prototype, featuring 12 fuel pumps, a car wash, and a freestanding c-store

LOCATED IN A DENSELY POPULATED, EXTREMELY AFFLUENT, AND GROWING FLORIDA CORRIDOR
» Hard-corner location at the four-way intersection of Northwest St. James Drive and Northwest Hatches Harbor (19,000 AADT)
» Beneficial proximity to the highly trafficked Florida thoroughfares, including U.S. Route 1 and Florida Turnpike (combined 89,300 AADT)
» Average annual household income of $94,854 within one mile of the location
» Population of 119,476 within a five-mile radius of the location, creating a large customer base for the site
» Projected 17 percent average annual household income increase within one mile of the site in the next five years, poising the site for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Strategically located outparcel to a Publix-anchored shopping center, significantly increasing crossover shopping to the site
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, The Home Depot, McDonald’s, Chick-fil-A, Starbucks, and more
» Excellent location in a major commuter corridor, with close proximity to several high density single family developments
» Beneficial proximity to Port St. Lucie’s most highly attended schools, including Fort Pierce Central High School, Northport K-8 School, and Southern Oaks Middle School (combined 4,814 students)
» Across the street from Oxbow Eco-Center, a riverside reserve spanning 225 acres with trails, viewing towers, and a sustainable discovery center
» Five miles from Indian River State College (17,511 students, 2,265 employees) and six miles from Lawnwood Regional Medical Center (380 beds, 1,479 employees)
» Florida has no state income tax



Property Description

Visibility to the property is increased by the site’s centralized location in a densely populated, affluent, and growing retail corridor. The site has a hard-corner location at the four-way intersection of Northwest St. James Drive and Northwest Hatches Harbor (19,000 AADT). The location also benefits from its proximity to highly trafficked Florida thoroughfares, including U.S. Route 1 and the Florida Turnpike, which experience a combined 89,300 vehicles per day. 119,476 residents live within a five mile radius of the location, establishing an extremely large regular customer base for the site. The property resides in an affluent area as well, with an average annual household income of $94,854 within one mile of the location. The site is also located in an area that is experiencing rapid growth, with a projected 17 percent average annual household income increase within a one-mile radius of the site in the next five years.

The location is strategically located near major employers, retailers, and community hubs. The property is an outparcel to a Publix-anchored shopping center, significantly increasing crossover traffic to the location. The site is also surrounded by a strong mix of local and national retailers, including Walmart Supercenter, The Home Depot, Tractor Supply Company, Dollar Tree, McDonald’s, Chick-fil-A, Starbucks, and many more. The property maintains an excellent location in a major commuter corridor, with close proximity to several high-density single family developments. The site resides near Port St. Lucie’s most highly attended schools, including Fort Pierce Central High School, Northport K-8 School, and Southern Oaks Middle School (combined 4,814 students). The location also maintains a beneficial proximity five miles from Indian River State College (17,511 students, 2,265 employees) and is six miles from Lawnwood Regional Medical Center (380 beds, 1,479 employees). It is also directly across from Oxbow Eco-Center, a riverside reserve spanning 225 acres with trails, viewing towers, and a sustainable discovery center.

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