7-Eleven Westlake,Florida

$14,400,000
Property type:Single-Tenant Net Lease

The space

  • Price: $14,400,000
  • Cap Rate: 5.00%
  • Rentable Square Feet: 4,500
  • Annual Rent: $720,000
  • Land Area: 1.89 Acres
  • Year Built: 2021
  • Number of Pumps: 16
  • Lease Type: NNN
  • Lease Term: 15 Years
  • Rent Increases: 5% Every 5 Years
  • Lease Expiration: 15 Years from COE

Description

4001 Seminole Pratt Whitney Road
Westlake, FL 33470

Investment Highlights

  • Brand New, 15-Year, Triple Net (NNN) Lease Commencing at Close of Escrow
  • Brand New Construction — Opened September 3, 2021
  • Upgraded Building Which Includes Car Wash, Restaurant, Large Beer Cooler, High-End Coffee and Beverage Options
  • Experienced Operator With Long-Term Experience With 7-Eleven and Operating Convenience Stores
  • Investment Offers Opportunity for Bonus Depreciation–Contact Tax Advisor for Details
  • The Palm Beach County Economy Benefits from an Expanding Population that Supported Strong Growth in the Real Estate, Construction and Services-Related Sectors
  • Tourism Also Plays an Important Role in the Local Economy, Generating Billions of Dollars in Revenue Annually
  • Palm Beach County is Florida’s Third Most Populous County With 1.4 Million People and is Expected to Add More Than 97,000 Citizens Through 2023
  • Approved for 2.2 Million Square Feet of Commercial Space
  • In the Immediate Surrounding Area, 4,500 Homes are Currently Being Built, With Hundreds of Residents Already in Place Lots for Sale are Priced from $12,000 to $80,000
  • Homes for Sale are Priced from $300,000s to $800,000s
  • Minto Communities Unveiled Plans for a 50-Acre Business Park Called Westlake Landings
  • Minto PBLH LLC, an Affiliate of Minto Communities in Coconut Creek, FL, Sold 20 Acres to Publix for $9.14 Million Site was Approved for a 140,000-Square-Foot Retail Plaza
  • First Phase Being a 50,000-Square-Foot Publix With a Liquor Store

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 7-Eleven in Westlake, Florida. This is a brand new, 15-year, triple net lease, commencing at close of escrow. This lease offers four, five-year tenant renewal options with 5 percent rent increases every five years throughout the base term and option periods. This is a new location, built in 2021 and includes a car wash, made-to-order food and 16 high-tech state-of-the-art fuel pumps.

The 7-Eleven is conveniently located in Westlake, FL, Palm Beach County’s newest city, currently building 4,500 homes, with hundreds of residents already in place. Westlake is also approved for 2.2 million square feet of commercial space. Minto Communities has unveiled plans for a 50-acre business park called Westlake Landings. Future developments include a 107,290-square-foot self-storage facility, a 14.5-acre site is planned for an Entertainment/Sports Concept, and a 17.5-acre property is slated for a flex office/warehouse project.

Westlake, Florida is part of Palm Beach County, Florida’s third most populous county with 1.4 million people and is expected to add more than 97,000 citizens through 2023. Westlake is seven miles from Lion Country Safari, a drive-through safari park named The 3rd Best Zoo in the Nation by USA Travel Guide, and 18 miles from Downtown West Palm Beach, the largest city in Palm Beach County.

If new browser tab does not open to download the OM, make sure to check that your pop-up blocker is disabled.
You may also contact us at: 954-245-3592 or Click Here to Send Email

For More Information, Download OM:

Download Barry Wolfe V-Card

Download Alan Lipsky V-Card

[contact-form-7 404 "Not Found"]