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7-Eleven, Lady Lake, FL

7-Eleven

Lady Lake, FL

Price $9,960,000
Cap Rate 4.00%
NOI $398,386
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
Year Built 2022
Building Size 4,650 SF
Lot Size 1.33 Acres (57,934 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE TO ICONIC CORPORATE TENANT
» New 15-year absolute NNN lease to iconic corporate tenant
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» 7-Eleven is the largest convenience retail chain in the world, with more than 71,000 stores worldwide
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor

HIGH-VISIBILITY LOCATION IN POPULOUS AND GROWING ORLANDO SUBURB
» Signalized hard-corner location at the intersection of U.S. Route 441 and Griffin Avenue (49,100 AADT)
» Population of 80,156 within a five-mile radius of the location, creating a reliable customer base for the site
» Surrounded by high-density, single family housing developments and large townhouse complexes
» Projected 12 percent average annual household income increase within a five-mile radius of the site in the next five years, poising 7-Eleven and Lady Lake for concurrent growth

PRIME INFILL LOCATION ALONG LADY LAKE’S PRIMARY RETAIL CORRIDOR
» Located outparcel to The Villages, the fastest growing metropolitan area in the United States between 2010 and 2020
» Across from Spanish Springs Town Square (the first of three town squares in The Villages – the fastest growing metropolitan area in the United States between 2010 and 2020), featuring free nightly entertainment and a wide variety of shopping and dining all surrounded by an open-air, Spanish-styled atmosphere
» Surrounded by a strong mix of local and national retailers, including Lowe’s Home Improvement, Target, The Home Depot, Sam’s Club, Best Buy, Kohl’s, and many more
» Serves as the first 7-Eleven location in Lady Lake, creating limited competition for the property
» Gateway to Orlando, the fourth-largest city in Florida (population 307,573)

NEW 2022 CONSTRUCTION IN A TAX-FREE STATE
» New 2022 construction built to latest 7-Eleven prototype, featuring six fuel pumps, a freestanding convenience store, and a drive-thru car wash
» Florida is an income tax free state



Property Description

The property has a signalized hard-corner location at the intersection of U.S. Route 441 and Griffin Avenue (49,100 AADT). The site features a prime location in a populous and growing area, with 80,516 residents living within a five-mile radius of the property, creating a reliable customer base for the site. This 7-Eleven location greatly benefits from being surrounded by high-density, single family housing developments and large townhouse complexes. With a projected 12 percent average annual household income increase within a five-mile radius of the site in the next five years, 7-Eleven and Lady Lake are poised for significant concurrent growth.

Visibility to the property is increased by the site’s prime location along Lady Lake’s primary retail corridor. The site is outparcel to The Villages, the fastest growing metropolitan area in the United States between 2010 and 2020. The property is conveniently located across from Spanish Springs Town Square (the first of three town squares in The Villages), featuring free nightly entertainment and a wide variety of shopping and dining all surrounded by an open-air, Spanish-styled atmosphere. The location also serves as the first 7-Eleven location in Lady Lake, creating limited competition for the property. The site is surrounded by a strong mix of local and national retailers, including Lowe’s Home Improvement, Target, The Home Depot, Sam’s Club, Best Buy, Kohl’s, Chick-fil-A, Taco Bell, and many more. The property also benefits from its proximity to Orlando, the fourth-largest city in Florida (population 307,573).

Contact Us About This Property

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