Fee Simple NNN 7-Eleven | New Construction 2020

  • $6,770,800
2751 North River Road, Venice, Florida 34292, USA

Fee Simple NNN 7-Eleven | New Construction 2020

2751 North River Road, Venice, Florida 34292, USA
  • $6,770,800

Overview

Property ID: 18548
  • Property Type
  • Auto and Brake Properties
  • 3010
  • sqft
  • 2020
  • Year Built

Description

Located in Venice, Florida, this freestanding, single-tenant 7-Eleven consists of a 3,010 sq.ft. retail space, a 980 sq.ft. car wash, and 16 fueling stations with ample parking. The property sits on a massive 1.80-acre parcel of land. Situated along the coast of the Gulf of Mexico, Venice is an affluent area 18 miles south of Sarasota. This fee simple lease is backed by 7-Eleven and has a 15-year lease, including 10 percent increases in rent every five years, and three five-year options to extend. This is a great passive investment opportunity with little-to-no landlord responsibilities. The tenant will receive the occupancy in January 2020. The property is strategically located on North River Road, south of the entrance and exit ramp to Interstate 75, and sees a traffic count of 50,916 vehicles per day. River Road is the most straightforward route to the $125 million Atlanta Braves spring training complex in North Port featuring seven fields, including CoolToday Park and a 6,200-seat stadium. The property serves approximately 45,032 residents and is likely to expand with an expected 15 percent population growth by 2023. Caribbean Village, a new, 178-home gated community built in 2017, is located just south to this property. Caribbean Village features a clubhouse with resort-style pool, cabanas overlooking the lake, and other institutional quality amenities developed by D.R. Horton.

This investment property is suitable for a 1031 exchange.

Property Details – 

  • Property Type – Auto and Brake Property
  • Property Status – Available
  • Location – 2751 North River Road, Venice, Florida 34292, USA
  • Year of Construction – 2020
  • Lease Type – Net Lease
  • Lease Expiration – 14 years 8 months
  • Property Size – 3010 sq.ft.

Details

Updated on April 16, 2020 at 7:10 am
  • Price: $6,770,800
  • Property Size: 3010 sqft
  • Year Built: 2020
  • Property Type: Auto and Brake Properties
  • Property Status: Available
  • Cap Rate: 4.80%
  • Lease Expiration: 14 years 8 months
  • NOI: $325,000
  • Tenant: Single Tenant Net Lease
  • Address 2751 North River Road, Venice, Florida 34292, USA
  • City Venice
  • State/county Florida
  • Zip/Postal Code 34292

Contact Information

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Ronnie Issenberg
  • Ronnie Issenberg

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Ronnie Issenberg
  • Ronnie Issenberg