SRS Real Estate Partners announced today the $4.7 million sale of a 7-Eleven gas station and convenience store property located at 1629 California Avenue in the downtown market of Bakersfield, Calif. Situated on 1.07 acres, the 4,750-square-foot property was built in 2025 and has 15 years remaining on its corporate-guaranteed absolute triple net lease.
SRS Capital Markets Vice President Alexander Moore and Senior Vice President Nick Frechou of Retail California, represented the seller, a Bakersfield-based private investor. The buyer was a Northern California-based private investor.
“This asset garnered strong investor interest due to the new construction, long-term/zero landlord responsibility lease to 7-Eleven, an investment grade tenant and leader in the gas and convenience store space,” said Moore.
Moore added, “SRS has seen increased activity across our gas and convenience store listings as 100% accelerated bonus depreciation seems likely to return under the current administration. Due to the fee-simple ownership of the property, accelerated bonus depreciation allows investors to receive greater deductions in the earlier years of the asset, thus minimizing taxable income.”
In 2024, SRS Capital Markets completed approximately $2.5 billion in deal volume comprised of more than 600 transactions in 45 states. SRS currently has in excess of 740 properties actively on the market with a market value surpassing $3.5 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.