Listed by Millenia Partners
$3,146,000
7-Eleven Gas Station & Convenience Store
Details
APN 19-23-29-2676-00-020
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 6,883
Cap Rate 5.00%
NOI $157,300
Tenancy Single
Lease Type Absolute NNN
Lease Expiration 07/31/2033
Rent Bumps Yes
Lease Options 6 (5-Year) Options
Class A
Year Built 2018
Acreage 1.330
Zoning ORL-AC-3 (Activity Center)
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 07/07/2018
Ground Lease Yes
Ownership Fee Simple
Retail | 5.00% CAP | 6,883 SqFt
Marketing description
Discover the vibrant energy of the International Drive area in Orlando, Florida — a prime location for retail and street-retail investment. The surrounding area is a hub for tourism, boasting world-renowned attractions such as Universal Orlando Resort, ICON Park, and the Orlando Eye. The corridor also offers a diverse mix of shopping, dining, and entertainment options, including the upscale Mall at Millenia and the Orlando International Premium Outlets. With its strategic position in this bustling tourist destination, the International Drive area presents an excellent opportunity for retail businesses and net-lease investors seeking a high-traffic, lucrative location in Orlando's dynamic market.
Investment highlights
- Current ground rent of $143,000.04 per year reflects a below-market rate for International Drive frontage of this caliber, where comparable ground leases along the corridor command meaningfully higher per-square-foot land rents.
- The contractual 10% increases every 5 years, layered on top of rent that is already discounted to market, provide investors embedded upside through both scheduled escalations and potential mark-to-market repricing at renewal or re-tenanting.
- The property benefits from convenient access to Interstate 4 via Grand National Drive and the I-4 Express interchange immediately north of the site, linking the trade area directly to the broader I-4 tourism corridor.
- This interchange provides quick access to Universal Orlando Resort, positioning the site as a natural fuel and convenience stop for both local commuters and the millions of annual visitors traveling between Universal Orlando, International Drive, and Orlando's broader tourism corridor.
- The ground lease is corporate guaranteed by 7-Eleven, Inc., a Texas corporation and one of the largest convenience store operators in the world.
- 7+ years remaining on the initial term with 6 (5-year) options to extend, demonstrating the tenant's long-term commitment to this International Drive location.
- The lease features scheduled 10% rental increases every 5 years and at the start of each option period, providing a strong hedge against inflation.
- Built in 2018, the asset includes a 3,124 SF convenience store and fuel-servicing facility on a 1.33-acre parcel.
- This is an absolute NNN ground lease — Tenant is responsible for CAM, taxes, insurance, and all maintenance and repair of the premises.
- Landlord has absolutely no responsibilities of any kind under the lease.
- Investor benefits from a leased-fee (land ownership) interest with no day-to-day management obligations.
- Ideal passive, management-free investment in a state with no state income tax.
- The property fronts International Drive, which carries approximately 22,000 vehicles per day (ADT) through one of the busiest tourism corridors in the country.
- Zoned ORL-AC-3 (Activity Center), consistent with the high-intensity, mixed-use retail and hospitality character of the I-Drive corridor.
- Located minutes from Universal Orlando Resort, ICON Park, the Orlando Eye, and the Orange County Convention Center.
Listing Contacts
Listed by Millenia Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$157,300.00
$13,108.33/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
Map
Zoning
AC-3 MixedMixed UseMetropolitan Activity Center
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