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7-Eleven, Wildwood, FL

7-Eleven

Price $7,095,000
Cap Rate 4.75%
NOI $337,000
Lease Term 15 Years
Lease Type Absolute NNN Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 3,520 SF
Lot Size 2.23 Acres (97,476 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor
» New 15-year absolute NNN lease with four (4) five (5) year options
» 7-Eleven is the largest convenience retail chain in the world, with more than 67,000 stores worldwide

IRREPLACEABLE LOCATION IN NEW, 154-ACRE MIXED-USE DEVELOPMENT
» High-visibility location near the signalized four-way intersection of County Road 466A and East County Road 462 (23,500 AADT)
» Located in a new, 154-acre mixed-use development, Wrenn Farm Village, which will feature 133 single-family lots, 134 townhome lots, and 14 commercial lots
» Property is the first 7-Eleven location in Wildwood
» Convenient access to U.S. Route 301, a major north-south U.S. thoroughfare that experiences a high traffic count of 26,500 vehicles per day

LOCATED IN A POPULATED, AFFLUENT, AND GROWING RETAIL CORRIDOR
» Across the street from Winn-Dixie-anchored shopping center featuring national retailers such as Subway, Walgreens, Bank of America, The UPS Store, Wells Fargo, and more
» Average annual household income of $86,172 within one mile of the location
» Population of 82,400 within a five-mile radius of the location, creating a large customer base for the site
» Projected 18 percent average annual household income increase within a one-mile radius of the site in the next five years, poising 7-Eleven and Wildwood for concurrent growth

NEW 2020 CONSTRUCTION AND DRIVE-THRU CAR WASH
» Features eight fuel pumps, a freestanding C-Store, and a drive-thru car wash
» Large, 2.23-acre lot for easy truck access



Property Description

The property has an irreplaceable location near the signalized four-way intersection of County Road 466A and East County Road 462, which experiences a combined traffic count of 23,500 vehicles per day. The location is strategically placed within a new, 154-acre mixed-use center zoned for both residential and retail development. Wrenn Farm Village will feature 133 single-family lots, 134 townhome lots, and 14 retail lots. The site is the first 7-Eleven location in Wildwood. The location also maintains convenient access to U.S. Route 301, a major north-south U.S. thoroughfare that experiences a high-traffic count of 26,500 vehicles per day.

Visibility to the property is increased by the site’s centralized location in a densely populated, affluent, and growing retail corridor. 82,400 residents live within a five-mile radius of the location, establishing a large regular customer base for the site. The property maintains a beneficial proximity to a Winn-Dixie-anchored shopping center across the street, featuring major retailers such as Subway, Walgreens, Bank of America, The UPS Store, Wells Fargo, and more. The site is also located in an affluent area, with an average annual household income of $86,172 within a one-mile radius of the site. The property is primed to grow along with the surrounding area, with a projected 18 percent average annual household income increase within one mile of the site in the next five years.

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