7-Eleven
Retail | 4.90% CAP | 2,880 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the fee-simple interest in a single-tenant, freestanding 7-Eleven gas station and convenience store located at 1021 Santa Barbara Boulevard S in Cape Coral, Florida (the “Property”). 7-Eleven has been at the Property for over 20 years and recently executed two renewal options (at the same time), demonstrating their commitment to the site and market. 7-Eleven has over eight (8) years remaining on their Absolute NNN Lease with three (3), 5-year renewal options. The lease provides attractive rent increases every five years in the primary lease term and at the commencement of the renewal options.
The Property occupies a prominent corner at the signalized intersection of Santa Barbara Boulevard South and Nicholas Parkway, two primary commuter corridors in the heart of Cape Coral. The site benefits from strong visibility, excellent frontage, and convenient ingress and egress, positioning 7-Eleven to capture consistent traffic from surrounding residential and commercial activity.
The Property is surrounded by densely populated residential neighborhoods and area schools, creating a reliable built-in customer base. In addition, the site is conveniently located near major retail and dining corridors, including Pine Island Road, Veterans Parkway, and Del Prado Boulevard South, which feature a concentration of national retailers and restaurants that drive significant daily traffic. The Property also benefits from proximity to major employment centers and medical facilities, further supporting consistent demand from area residents, employees, and commuters and reinforcing the site’s strong position within the Cape Coral trade area.
Investment highlights
LONG TERM OCCUPANCY: 7-Eleven has been at the Property since its construction in 2001 and recently extended their lease, exercising two 5-year renewal options at the same time, demonstrating their commitment to the site and market. 7-Eleven has over 8 years of term remaining followed by three (3), 5-year renewal options.
ZERO MANAGEMENT RESPONSIBILITIES: 7-Eleven has an Absolute NNN Lease and requires zero management responsibilities, making it an attractive investment for the passive real estate investor.
SCHEDULED RENT INCREASE: The lease includes an attractive 9.8% rent increase in 2029 and 10% increases at the start of each renewal option period, providing a steady increase in income and an attractive hedge against inflation.
INVESTMENT GRADE CREDIT: 7-Eleven, Inc., the Irving, Texas-based C-Store chain operates, franchises and/or licenses approximately 85,000 stores in 20 countries, including nearly 13,000 locations in North America, making it the largest retailer in the world. The company holds an investment grade credit rating of A- (S&P).
POTENTIAL BONUS DEPRECIATION: The Property may qualify for 100% Bonus Depreciation – Consult with your CPA or Tax Professional.
STRATEGIC RETAIL LOCATION: The Property is well positioned at the signalized intersection of Santa Barbara Boulevard S and Nicholas Parkway and benefits from strong visibility, prominent frontage and convenient access points for ingress and egress. 7-Eleven is located at the intersection of two primary commuter corridors in the heart of Cap Coral. The Property is surrounded by densely populated residential neighborhoods, area schools, and is convenient to countless national retailers and restaurants positioned along Pine Island Road (SR 78), Veterans Parkway and Del Prado Boulevard S. 7-Eleven is also close to major employment drivers, and medical facilities, all of which generate consistent daily traffic from area residents, employees, and commuters.
TRADE AREA: Retailers driving traffic to the trade area include a Publix, Sam’s Club, Target, Lowe’s, Key Food Supermarkets, Aldi, Walmart Neighborhood Market, Sportsman’s Warehouse, Famous Footwear, Kohl’s, CVS, Walgreens, Dollar Tree, AutoZone, Advance Auto Parts, Valvoline, Buffalo Wild Wings, Starbucks, McDonald’s, Burger King, Wendy’s, KFC, Popeyes, Taco Bell, Arby’s, Culver’s, Dunkin’, and Wawa.
TRAFFIC COUNTS: On average, more than 39,100 vehicles pass by the Property each day at the signalized intersection of Santa Barbara Boulevard S and Nicholas Parkway.
DEMOGRAPHICS: Over 77,600 people live within 3 miles of the Property with an average household income of $95,789. An impressive 182,600 people live within 5 miles of the Property with an average household income of $102,478. Additionally, there are an impressive 49,300+ employees working within the same 5 miles of the Property.
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