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7-Eleven, Tavares, FL

7-Eleven

Price $4,499,000
Cap Rate 4.75%
NOI $213,671
Lease Term 15 Years
Lease Type Net, with Tenant Responsible for all Taxes, Insurance, and Maintenance, Excluding Roof and Structure
Rental Increases 10% Rental Increases Every Five (5) Years, Starting in Year 11
Year Built 2020
Building Size 3,109 SF
Lot Size 1.82 Acres (79,343 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 NET LEASE TO ICONIC CORPORATE TENANT
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» 10% rental increases every five years starting in year 11, providing a hedge against inflation
» New 15-year net 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 A RAPIDLY DEVELOPING SUBURB OF GREATER ORLANDO
» Located just across from a new Publix-anchored shopping center with many outparcel developments currently under contstruction
» Slim Haywood Avenue serves as the primary access road to Shantinketan, a new, sold out retirement community with 174 condos for adults 55 and older
» Lake County is one of the five fastest growing counties in Florida with significant population growth expected in the future
» Tavares is located within an hour drive of Greater Orlando and many tourist attractions including Walt Disney World, SeaWorld Orlando, Universal Orlando, and many others

LOCATED IN A HIGH TRAFFIC RETAIL CORRIDOR
» Irreplaceable location between State Highway 19 and County Road 561, which experiences 48,100 vehicles per day combined
» Convenient access to State Highway 19, the primary retail and transportation corridor in Tavares, Florida

NEW 2020 CONSTRUCTION AND DRIVE-THRU CAR WASH
» Brand new construction to Tenant’s latest prototype
» Features eight fuel pumps, a freestanding C-store, and a drive-thru car wash



Property Description

The property is strategically located between State Highway 19 and County Road 561 which experiences a combined 48,100 vehicles per day. The property is located in a densely populated and affluent area with a population of 41,189 and an average household income of $61,526 within five miles of the property. The property is located just across from Tavares Crossroads, a Publix-anchored shopping center with multiple outparcel properties currently in development. The property is located just off Slim Haywood Avenue, the primary access road to Shantiniketan, a new, sold out retirement community with 174 condos for adults 55 and older.

The property benefits from its location on a primary transportation corridor between many major tourist attractions. Tavares is located in the center of many lakes that draw visitors from throughout Florida and the Greater U.S. for summer vacations. Tavares’ tourist attractions are primarily outdoor recreation based with many state parks located within a short drive but travelers also have the ability to access all of the tourist attractions in Greater Orlando within an hour drive.

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