Investment Highlights
- Brand New, 15-Year, Absolute Triple Net (NNN) Lease
- 15 Percent Rent Increase in Year Six, Extremely Rare for a 7-Eleven!
- Lease to Commence in July 2020
- Two, Five-Year Renewal Options with 15 Percent Increases Every Five Years
- Tenant has Operated from this Site for More Than 20 Years and Recently Signed a New Lease – Showing a Strong Commitment to the Site
- Part of the Orlando MSA
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a 7-Eleven convenience store and gas station in Kissimmee, Florida. The tenant has a strong commit to this site as they have been operating from this location for more than 20 years and recently signed a brand new, 15-year, absolute triple net lease. The new lease will commence in July 2020 and offers two, five-year renewal options. This is an extremely rare opportunity with 15 percent rent increases beginning in year six.
The subject property is positioned at the signalized intersection of Irlo Bronson Memorial Highway and Poinciana Boulevard with a combined daily traffic count of 72,000 vehicles. The immediate area has strong demographics and a population over 100,000 within a five-mile radius. The 7-Eleven in Kissimmee is located in a major retail area with surrounding national brands including Walmart Supercenter, Target, Marshalls, Publix, Sam’s Club, T.J. Maxx, Petco, Dollar General, Camping World, Chili’s, Olive Garden, Chipotle, Dunkin Donuts, Comfort Inn & Suites, Howard Johnson, Embassy Suites, Calypso Cay Resort and many more.
Part of the Orlando metro area, the subject property is four miles from Walt Disney World, and seven miles from SeaWorld Orlando. The Orlando area is one of the largest and fastest growing areas in Florida and has a population of more than 2.4 million residents. Orlando is one of the nation’s most popular tourist destinations with roughly 72 million visitors annually.
