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29126570
29126571

1290 E Lake Rd S, Tarpon Springs, FL 34688

JL
FL SL3510801
Matthews
DG
FL SL3463209 (FL)
Matthews
AD
FL SL3579687 (FL)
Matthews
Listed by Matthews
$4,919,400
151 days on market
Updated 73 days ago

7-Eleven

Details
APN 22-27-16-23970-000-0010
Property Type Retail
Sub Type Gas Station
Square Footage 2,940
Net Rentable (SqFt) 2,940
Pumps 12
Cap Rate 4.75%
NOI $233,673
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven
Lease Type Absolute NNN
Lease Term 35.5
Lease Expiration 12/31/2035
Remaining Term 9.6
Rent Bumps Yes
Lease Options 2 x 5 Years
Price per SqFt $1,673
Broker Co-Op Yes
Year Built 2000
Acreage 1.000
Zoning Commercial
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 07/27/2000
Ground Lease No
Ownership Fee Simple

Ranked 99th Percentile | Fee Simple (Bonus Depreciation)

Investment highlights

Property Highlights

Top Performing Store Nationwide (Per AlphaMaps): Ranked in the 99th percentile nationally for customer foot traffic, placing this location among the highest-performing 7-Eleven stores in the country.

Absolute NNN Lease: Structured as an absolute NNN lease, providing 100% passive income with zero landlord responsibilities.

Strong Site Commitment: 7-Eleven recently executed a 10-year lease extension, underscoring long-term commitment to this location.

Investment Grade Credit: 7-Eleven carries an “A-” credit rating from Standard & Poor’s, offering exceptional income security.

Bonus Depreciation Eligible: Gas stations qualify for bonus depreciation which allows you to write off the majority of the purchase in year one –consult a CPA to further discuss.

Attractive Rental Growth: The lease includes 10% rent increases every five (5) years (including options), providing a strong hedge against inflation.

Location Highlights

Highly Coveted Market: Located in Pinellas County, one of Florida’s most densely populated submarkets with extremely limited fuel competition, enabling the property to capture a dominant share of gas and convenience sales.

Signalized Hard Corner: Positioned along E Lake Road (±55,000 VPD) at a lighted four-way intersection with outstanding visibility to both northbound and southbound traffic.

Strong Daily Demand Drivers: Directly benefits from proximity to East Lake High School (~2,300 students), as well as multiple surrounding residential communities.

Supply-Constrained Advantage: The site further benefits from a recent gas station moratorium in Tarpon Springs, reinforcing long-term performance and competitive insulation.

Listing Contacts

JL
FL SL3510801
Matthews
DG
FL SL3463209 (FL)
Matthews
AD
FL SL3579687 (FL)
Matthews
Listed by Matthews

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$233,673.00
$19,472.75/mo

Valuation Metrics

0
DSCR
4.75%
Cap Rate
4.75%
ROI

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Additional Information

Name
Kyle Matthews
License
BK3554632, CQ1066435 (FL)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
Name
Jake Lurie
License
SL3510801
Name
Daniel Gonzalez
License
SL3463209 (FL)
Brokerage Phone
3053956972
Name
Andrew Doerr
License
SL3579687 (FL)
Brokerage
3579687
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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