702 S 50th St - Retail FOR SALE


Tampa, FL 33619
$6,380,000 USD
508-272-0585
702 S 50th St, Tampa, FL for Sale
$6,380,000 USD
Retail - FOR SALE
1/5
null | 5% Cap Rate

702 S 50th St
Tampa, FL 33619


HIGHLIGHTS

  • BONUS DEPRECIATION ELIGIBLE
  • RECENT 15-YEAR SALE-LEASEBACK
  • INFILL LOCATION

OVERVIEW

BONUS DEPRECIATION ELIGIBLE - The sale offers land and improvements, allowing for buyer to take 100% Bonus Depreciation GREAT LEASE FUNDAMENTALS - 15 Year Lease with 10% bumps every 5 years and in extension periods - Abs. NNN lease providing zero landlord responsibilities - Passive investment CORPORATE BACKED INVESTMENT GRADE TENANT - 7-Eleven’s parent company, Seven-Eleven Japan Co, LTD has a market cap of $37.18B (Ticker: SVNDY) - There are over 83,000 locations across the world HIGH VISIBILITY OFF BUSY US HWY 41 - In the Top 30% of Convenience Stores Nationwide (Placer.ai) - Excellent exposure along a major retail and commuter corridor - Located on a hard corner, the site provides unmatched visibility and access along US Hwy 41 with 33,000 VPD INFILL LOCATION - 5 miles from downtown Tampa - Within a 1-mile radius the retail vacancy rate sits at 0% while multifamily rent growth YoY is up 8.8% - Site benefits from a limited retail supply pipeline and the dense residential neighborhoods of East Tampa RETAIL SYNERGY & YOUNG DEMOGRAPHICS - The immediate trade area serves a younger population with Tampa seeing outsized growth in residents age 25- 44 a demographic that over indexes on convenience retail, prepared food and grab-and-go purchases - Proximity to University of South Florida and surrounding campuses stable young professional presence & reinforce long term consumer demand RECENT 15-YEAR SALE-LEASEBACK AT LOCATION - 7-Eleven recently executed a new 15-year NNN sale-leaseback at this location, demonstrating their commitment and long-term viability at the site

FOR SALE DETAILS

PRICE

$6,380,000 USD

PRICE/SF

$2,070 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Convenience Store, Freestanding, Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,627 SF

ZONING

CG

APN/PARCEL ID

U-22-29-19-ZZZ-000001-49900.0

ASK ABOUT THIS PROPERTY

Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

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Eric SuffolettoAtlantic Capital PartnersMore Info
508-272-0585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.