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O’Reilly Commercial Realty LLCPatrick O’Reilly
Phone: (352) 237-2222
Email: OreillyCommercialRE@gmail.com
7-Eleven Investment Property | 105%+ population growth since 2000 | AA-
8205 N Wickham Rd, Melbourne, FL 32940
Melbourne Listing for Retail Property For Sale
- Price:
- $2,300,000
- Building Size:
- 3,061 SF
- Price per SF:
- $751.39
- Property Type:
- Retail
- Property Sub-type:
- Service - Gas Station
- Property Use Type:
- Net Lease Investment with 3 years left on lease
- Cap Rate: 6.50%
- Occupancy:
- 100%
- Tenancy:
- Single
- Lot Size:
- 1.88 AC
- APN / Parcel ID:
- 26-36-15-00-00009.0- 0000.00
Description of Listing for Florida Commercial Property
" Leased to nationally recognized 7-Eleven, Inc., (S&P AA-Credit) which has over 7,800 stores nationwide and 52,000 worldwide with annual revenue of more than $10.3 billion" 7-Eleven has subleased part of the premises to Viera Car Wash which reduces 7-Eleven's operating expenses
" Safety net in place via supplemental lease with Viera Car Wash, LLC; in the event 7-Eleven forgoes extending the lease, the supplemental lease commences and Viera Car Wash will begin paying Landlord monthly rent for a minimum of five (5) years.
" 10% rent increases in Option Periods
" 7-Eleven has operated at site since 1994
" Viera Car Wash recently received approval to add a Tunnel Car Wash to its Leased Premises; projected to multiply its current sales ten times and draw additional traffic to the site
" Population growth over 105% within a 1-mile radius of site since 2000; on pace to grow additional 10% by 2020.
" Excellent opportunity to own a strong, 7-Eleven asset in a tax-free state
" Low risk and minimal management opportunity " Less than half-a-mile from major intersection of I-95 and N Wickham Rd and about 35 miles southeast of Orlando
" Strong National Tenants within a 1-mile radius: Walmart Supercenter, Target, Hobby Lobby, McDonald' s, CVS, Walgreens, Space Coast Cancer Center, Dunkin' Donuts, Chick-fil-A, Holiday Inn, Hampton Inn, La Quinta Inn, Wendy' s, Burger King, Craker Barrel, Starbucks, Petco, Subway, Wells Fargo, Chase Bank, Bob Evan' s, Suntree Square Shopping Center, Papa John' s, Dairy Queen, Firehouse Subs, Game Stop, Ross, among others
" Located less than 1.5 miles from The Avenue Viera open-air shopping mall which entails over 700,000 SF of retail properties; N Wickham Rd is the closest on-ramp and off-ramp to this enormous mall consisting of 68 stores, 19 restaurants, and a 16-screen cinema. " 31,966 cars per day at N Wickham Rd & Sheriff Dr; 30,420 cars per day at N Wickham Rd & Office Park Pl
Financial Summary for Melbourne Investment Property
- was approximately $149,118
Listing information courtesy of Matthews Retail Advisors. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.
