7-Eleven Daytona Beach, Florida

$6,232,000
Cap Rate: 4.75%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 4.75%
Price: $6,232,000
Annual Rent: $296,000
GLA: 3,010 SF
Land Area: 1.28 Acres
Year Built: 2019
Lease Type: NNN
Lease Guarantor: Corporate
Lease Term: 15 Years
Option Periods: 4, 5-Year Options
Rental Increases: 10% Every 5 Yrs Beginning Yr 11
Lease Expiration: 10/31/2034

1401 Beville Road
Daytona Beach, FL 32119

Investment Highlights

• Brand New, 15-Year, Triple Net (NNN) Lease with Four, Five-Year Renewal Periods
• Brand New Construction; Opened on October 25, 2019
• 10 Percent Rental Increases Beginning Year 11, and Every Five Years Following
• Located off Beville Road with a Daily Traffic Count of 33,000 Vehicles, and Clyde Morris Blvd with 28,000 Vehicles
• Surrounding National Retailers Include Walmart Supercenter, Publix, Aldi, Office Depot, Planet Fitness, Bravo Supermarket, Tire Kingdom, Family Dollar, Bank of America, Taco Bell, Dunkin Donuts and Many More
• Within Close Proximity to Interstate 95, With a Daily Traffic Count of More Than 66,000 Vehicles
• One and a Half Miles from Embry-Riddle Aeronautical University, With an Undergraduate Enrollment of More Than 10,000
• 2.5 Miles from Daytona International Speedway, Which Generates an Estimated $1.6 Billion Annually for the Local Economy
• Three Miles from Daytona Beach International Airport
• Tourism the Largest Economic Driver in the Daytona Beach Metro
• Five Miles from the Atlantic Ocean

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand new 7-Eleven convenience store and gas station in Daytona Beach, Florida. It offers a brand new, 15-year, corporate, triple net lease. There are four, five-year renewal options with 10 percent rental increases beginning year 11, and every five years following. This 7-Eleven opened on October 25, 2019.

The subject property is located off Beville Road with a daily traffic count of 33,000 vehicles, and Clyde Morris Blvd with 28,000 vehicles. Surrounding national retailers include Walmart Supercenter, Publix, Aldi, Office Depot, Planet Fitness, Bravo Supermarket, Tire Kingdom, Family Dollar, Bank of America, Taco Bell, Dunkin Donuts and many more. It is also within close proximity to Interstate 95, which has a daily traffic count of more than 66,000 vehicles.

The 7-Eleven is one and half miles from Embry-Riddle Aeronautical University, which has an undergraduate enrollment of more than 10,000 students. The subject property is 2.5 miles from Daytona Beach International Airport and Daytona International Speedway. With tourism being the largest economic driver in the Daytona Beach metro area, the Speedway has a major economic impact and generates an estimated $1.6 billion annually.

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