Investment Offering
Clearwater, FL - 7-Eleven
1971 Sunset Point Road | Clearwater, FL 33765
$6,253,000
Price4.3%
Cap Rate$268,873
NOI4,040
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, investment grade (S&P: A-), corporate signed 7-Eleven investment property located in Clearwater, Florida. The tenant, 7-Eleven, Inc., has approximately 12 years remaining on their current lease with 4 (5-year) options to extend. The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option, growing NOI and hedging against inflation. The lease is corporate signed by 7-Eleven, Inc. and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. 7-Eleven operates, franchises, and/or licenses more than 77,000 stores in 16 countries and regions, including 16,000 in North America.
Location
7-Eleven is strategically located at the signalized, hard-corner intersection of Sunset Point Rd. and N. Hercules Ave., which averages a combined 54,800 vehicles passing by daily. In addition, the site benefits from nearby direct on/off ramp access to U.S Highway 19, a major thoroughfare serving the region averaging 99,000 vehicles per day. Furthermore, the site benefits from excellent visibility via significant street frontage and large monument signs along Sunset Point Rd. and N. Hercules Avenue. The asset is located in the heart of a dense, regional retail corridor, with several premier retail destinations nearby including the Clearwater Mall (900,000+ SF and Sunset Point 19 (288,000 SF). Nearby national/credit tenants include Target, Walmart Supercenter, Lowe’s Home Improvement, the Home Depot, Publix, Sprouts Farmers Market, Costco Wholesale, Barnes & Noble, Planet Fitness, Hobby Lobby, and many more. Strong tenant synergy significantly increases consumer draw to the immediate trade area and promotes crossover store exposure. The 5-mile trade area is supported by over 240,000 residents and 110,000 employees, with an average household income of $77,269. Located along the Gulf of Mexico beside the major cities of Tampa and St. Petersburg, Clearwater is a popular tourist destination averaging 5 million annual visitors.
Documents & Links
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 Clearwater FL - 7-Eleven OM.pdf |  |  |