SRS Real Estate Partners announced today the $9.3 million sale of a 7-Eleven property located at 3045 W Norvell Bryant Hwy in Lecanto, Fla. With its grand opening in August 2024, the newly constructed, 4,500-square-foot property is situated on a 1.81-acre site and has a 15-year, corporate-guaranteed lease in place.
SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble, who are based in Florida, represented the seller, a Florida-based developer. The buyer was a private investor from Kentucky.
“This transaction provides the new ownership with an investment-grade, long-term tenant and a lease featuring 10% rental increases every five years, providing a hedge against inflation,” said Nutt. “This was an ideal, management-free investment for a passive investor in a state with no income tax.”
The 7-Eleven site is an outparcel to the Shoppes at Black Diamond, a new 29-acre retail development anchored by Target.
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.