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New Construction 7-ELEVEN | Corporate NNN | 100% Bonus Depreciation Potential



$9,186,450

SOLD

Call for Address

*******, FL

  • Corporate AA-S&P rated tenant with absolute true triple net lease.
  • Potential bonus depreciation benefit of 6.10%. Tax equivalent yield at 37% married filing joint tax bracket and 5.94% at 35% from convenience & gas and car wash and a 5.62% weight average cap rate.
  • Projected at a 4.15% CAP Rate.
  • Brand new construction and potential 3rd party report savings with fresh due diligence.
  • Hard signalized corner with good ingress and egress on a major East/West connector road.
  • Catches all morning traffic going to I-95 from dense residential with over 47K cars a days.
  • Financial Summary:

    Gross Leasable Area (GLA): 4,791 SF Store - 869 SF Car Wash
    Lot Size: 2.01 Acres (87,628 SF)
    No. of Pumps: 8 pumps
    No. of Parking: 42 Parking Spots
    Cap Rate: 4.15%
    Weighted Average Cap Rate: 5.62%
    Tax Equilivent Cap Rate*: 5.62% for 35% tax bracket married filing joint and 6.10% for 37 % married filing joint tax bracket
    Base Rent (current): $381,238
    Lease Fee Simple Absolute True NNN
    Lease Term Remaining: 15 Years
    Rent Commencement /Target Open Date: 11/01/2022
    Rent Increases 10% increase every 5 years including option periods.
    First Renewal Option Term: 08/31/2037

Documents

 
No Documents for this Property


  • Sale Comps $9.2M - $9.3M
  • Rental Comps $350,000 - $351,000
  • Property Type Commercial
  • Location *******, FL 0
  • Size 4667 sq. ft.
  • Bedrooms 0
  • Bathrooms 0
  • TAV 333.2K
  • Annual Taxes $4,902
  • Year Built 2022

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