Property details
7-Eleven Ground Lease, Pacific West Region
Property Description
Reduced from $2,800,000 to $2,300,000!
Corner location NNN 7-Eleven ground lease with Corporate 7-Eleven signature! Includes commercial pad cap rate will vary depending on what value is put on the commercial pad. Strategically located between two major roadways at a Signalized corner. NNN 7-Eleven ground lease including commercial pad ready to build. Southland Corporation ( 7-Eleven ) ground lease.
7-eleven and commercial pad, pad must go with the sale. The extra land pad is worth 850,000. The asking price of $2,300,000 less $850,000 = $1,450,000 which yields a 5.52% CAP based on the NOI.
The owner is currently in final negotiations with a cellular company who wants to put up a cell tower on the property. This will bring in an additional $3,200 per month NNN ($38,400 annually). Total NOI then will be $118,400.
About the Tenant
7-Eleven
Images
Highlights
- Status:
- Available
- Price:
- $2,300,000
- PSF:
- $920
- Cap Rate:
- 5.52%
- Annual Rent:
- $80,000
- Rent Increases:
- every 5 years
Property Information
- Building Size:
- 2,500 sq.ft.
- Property Type:
- Ground Lease
- Industry Type:
- Convenience Store - Gas
- Units/Spaces:
- 1
- Land Area:
- 1.91 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- 7-Eleven
- Lease Type:
- NNN
- Lease Commencement:
- 1/1/2000
- Lease Expiration:
- 11/30/2014
- Lease Term:
- 14 years
- Years Remaining:
- 5 years
- Landlord Responsibilities:
- pays property taxes for the vacant pad only.
- Options:
- 3 five year options
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.