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7-Eleven 702 S 50th St 3,121 SF Retail Building Tampa, FL 33619 $8,788,450 CAD ($2,815.91 CAD/SF) 5% Cap Rate
Investment Highlights
- BONUS DEPRECIATION ELIGIBLE
- INFILL LOCATION
- RECENT 15-YEAR SALE-LEASEBACK
Executive Summary
- The sale offers land and improvements, allowing for buyer to take 100% Bonus Depreciation
GREAT LEASE FUNDAMENTALS
- 15 Year Lease with 10% bumps every 5 years and in extension periods
- Abs. NNN lease providing zero landlord responsibilities
- Passive investment
CORPORATE BACKED INVESTMENT GRADE TENANT
- 7-Eleven’s parent company, Seven-Eleven Japan Co, LTD has a market cap of $37.18B (Ticker: SVNDY)
- There are over 83,000 locations across the world
HIGH VISIBILITY OFF BUSY US HWY 41
- In the Top 30% of Convenience Stores Nationwide (Placer.ai)
- Excellent exposure along a major retail and commuter corridor
- Located on a hard corner, the site provides unmatched visibility and access along US Hwy 41 with 33,000 VPD
INFILL LOCATION
- 5 miles from downtown Tampa
- Within a 1-mile radius the retail vacancy rate sits at 0% while multifamily rent growth YoY is up 8.8%
- Site benefits from a limited retail supply pipeline and the dense residential neighborhoods of East Tampa
RETAIL SYNERGY & YOUNG DEMOGRAPHICS
- The immediate trade area serves a younger population with Tampa seeing outsized growth in residents age 25- 44 a demographic that over indexes on convenience retail, prepared food and grab-and-go purchases
- Proximity to University of South Florida and surrounding campuses stable young professional presence & reinforce long term consumer demand
RECENT 15-YEAR SALE-LEASEBACK AT LOCATION
- 7-Eleven recently executed a new 15-year NNN sale-leaseback at this location, demonstrating their commitment and long-term viability at the site
Property Facts
Amenities
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- 3,121 SF
- -
- Dec 2040
7-Eleven began in 1927 as a Dallas ice store and grew into a convenience retail chain built around long hours and quick purchases. The company helped pioneer the franchise model and now operates, franchises, and licenses stores under the 7-Eleven banner along with Speedway, Stripes, Laredo Taco Company, and Raise the Roost Chicken & Biscuits. 7-Eleven’s business spans convenience foods and beverages, fuel, and branded foodservice, with store formats designed around fast, personalized convenience for everyday customers. Today, 7-Eleven is a global brand with a broad international presence and a long history of retail firsts that shaped the modern convenience store format.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 3,121 SF | - | Dec 2040 |
Property Taxes
| Parcel Number | U-22-29-19-ZZZ-000001-49900.0 | Improvements Assessment | $528,317 CAD |
| Land Assessment | $384,360 CAD | Total Assessment | $912,677 CAD |
Property Taxes
Contacts
-
Eric Suffoletto -
David Hoppe -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Kendra Doherty -
Connor Kuchman -
Atlantic Capital Partners
Presented by
7-Eleven | 702 S 50th St
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