7-eleven · 2020. 7. 17. · sunbeam will typically invest in large tracts of land in major growth...
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GROVELAND (ORLANDO SUBURB), FL
7-ELEVENNEW 15 YEAR 7-ELEVEN UNDER CONSTRUCTION
RICK [email protected]: 415.274.2709CA BRE# 01792433
RICK [email protected]: 415.274.2709CA BRE# 01792433
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Contact the team
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RICK [email protected]: 415.274.2709
CA BRE# 01792433
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IN CONJUNCTION WITH FL LICENSED BROKER: John Park Berkshire RealityPH: [email protected]
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
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7-ELEVENNEC OF CRITTENDEN ST AND E. BROAD STREET, GROVELAND, FL 34736
7-ELEVEN IS THE LARGEST CHAIN IN THE CONVENIENCE RETAIL INDUSTRY
5.00%CAP
$3,770,000 PRICE
Investment Summary
NOI: $188,477LEASE TYPE: NN*LEASABLE AREA: 3,500 SF + Car WashLAND AREA: 2.40 ACRESPARKING: 15 SPACESYEAR BUILT: 2020
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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
*LL Responsible for roof, structure, and foundation.
THE OFFERINGThe subject property provides an opportunity to acquire a brand new construction 7-Eleven in Groveland, Florida, a high growth suburb of Orlando. The 15-year lease includes rental escalations in the base term and the four 5-year option periods. Located on a large 2.4 acre parcel, the property is currently under construction and is strategically located along US-33 and E Broadway Street which enjoys traffic counts of over 36,000 vehicles per day. Rent commenced on July 1, 2020.
Groveland, 35 miles west of Orlando and 70 miles northeast of Tampa, the city is ideally located. The city has a strong economic outlook, low property taxes, recent infrastructure improvements, business-development resources, and exceptional city services contributing to its quick growth. The city has experienced a steady population growth of over 15,000 people over the last ten years, making it the fastest growing city in Lake County. It benefits from close proximity to both Orlando and Tampa, via US Highway 27, State Road 19, 33 and 50, and the Florida Turnpike.
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 4
Investment Highlights
• 15-year lease with rental increases every five years in base term and four 5-year option periods
• 7-Eleven is the largest chain in the convenience retail industry
• S&P Rated AA - Rated Tenant
HIGHLIGHTS
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Investment HighlightsREPRESENTATIVE PHOTO
• Groveland is located 35 miles west of Orlando and 70 miles northeast of Tampa, the city is ideally located
• Orlando MSA - Population of 2.5+ Million• Fastest growing city in Lake County
DESIRABLE LOCATION
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
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PRICE $3,770,000 Capitalization Rate: 5.00%
Building Size (SF): 3,500
Lot Size (AC): 2.40
STABILIZED INCOME PER SQUARE FOOTScheduled Rent $53.85 $188,477
Effective Gross Income $53.85 $188,477
LESS PER SQUARE FOOTTaxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING $188,477
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Income & Expense
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
TENANT INFO LEASE TERMS RENT SUMMARY
TENANT NAME SQ. FT. TERM CURRENT RENT
MONTHLY RENT
YEARLY RENT
MONTHLY RENT/FT
YEAR RENT/FT
TENANT 3,500 07/01/19 09/30/24 $188,477 $15,706 $188,477 $4.49 $53.85
07/01/24 09/30/29 $17,277 $207,325 $4.94 $59.24
07/01/29 09/30/34 $19,005 $228,057 $5.43 $65.16
Option 1 07/01/34 09/30/39 $20,905 $250,863 $5.97 $71.68
Option 2 07/01/39 09/30/44 $22,996 $275,949 $6.57 $78.84
Option 3 07/01/44 09/30/49 $25,295 $303,544 $7.23 $86.73
Option 4 07/01/49 09/30/54 $27,825 $333,899 $7.95 $95.40
TOTALS: 3,500 $188,477 $15,706 $188,477 $4.49 $53.85
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Rent Roll
Site Plan
15SPACES
3,500RENTABLE SF
2.40ACRES
Site Plan
7This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 7
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7-Eleven, Inc. is the premier name and largest chain in the convenience retail industry. Based in Irving, Texas, 7-Eleven operates, franchises, or licenses more than 66,000 stores in 18 countries, including 12,000 in North America.
Known for its iconic brands such as Slurpee, Big Bite, and Big Gulp, 7-Eleven has expanded into high-quality salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings, cheeseburgers, and hot chicken sandwiches.
7-Eleven offers customers industry-leading private brand products under the 7-Select brand including healthy options, decadent treats and everyday favorites, at an outstanding value. Customers also count on 7-Eleven for payment services, self-service lockers and other convenient services.
7-Eleven corporate recently announced it expects as many as 20,000 new store employees will be hired by 7-Eleven, Inc. or by independent 7-Eleven franchised business owners in the near future to meet increased demand for 7-Eleven products and services. For more information click here.
ABOUT 7-ELEVEN
REPRESENTATIVE PHOTOLOCATIONS IN 17COUNTRIES70,000
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Tenant Overview
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
TELEVISION BILLIONAIRE AND DEVELOPER BUYS 123 ACRES IN GROVELAND/LAKE COUNTY JPA
GROWTHSPOTTER (MAY 7, 2020) Lake County’s Groveland area continues to see investment from big players in the industrial development market. Just recently, a company led by media billionaire and developer Edmund Ansin paid $4 million for about 123 acres on the northwest corner of US Highway 27 and O’Brien Road, according to a deed filed in Lake County.
Marvin Puryear with SVN Saunders Ralston Dantzler Real Estate represented the selling entity, a company tied to real estate player and property investor Richard Bosserman. Dave Lundberg with Lundberg Properties Inc. represented the buyer. Ansin is active in both the broadcasting and real estate. His company, Sunbeam Television, owns WSVN-TV in Miami and WHDH-TV in Boston. Meanwhile, real estate business is handled through his Sunbeam Development Corporation, which owns and manages a portfolio of commercial real estate properties primarily located in Indiana and Florida. Developments include suburban office parks, industrial parks and shopping centers. According to the company’s website, Sunbeam will typically invest in large tracts of land in major growth areas.
In Florida, the company’s largest project is a 2,500 acre commerce park located near the Broward/Miami-Dade county line in Miramar. Lundberg told GrowthSpotter the Sunbeam is active in Central Florida, and may either invest in this particular property or choose to develop it. “It can go either way,” Lundberg said.
For any development to take place on the land, the owners must first rezone the properties from its current Agricultural classification. It currently features an Urban Medium Density Future Land Use, which allows residential developments at a maximum density of about seven dwelling units per acre, in addition to civic commercial and office uses. Limited light industrial uses may only be allowed as a conditional use, unless permitted as an Economic Development Overlay District use, according to marketing material used by SVN Saunders.
Across O’Brien Road, about 40 acres are being planned to house a new residential development, Puryear said. The Lake County site that recently traded hands features 2,740 square feet of frontage along US Highway 27, and is in close proximity to Florida’s Turnpike and State Road 19. The property features frontage along US Highway 27 and easy access to Florida’s Turnpike and State Road 19. The property is located within the Lake County/Groveland Joint Planning Area, where other large industrial facilities are being planned.
Nearby, Kroger Co. and U.K.-based e-grocer Ocado are building a 375,000-square-foot customer fulfillment center at 7925 American Way that is estimated to cost $125 million to complete. The area is also rumored to house a new Amazon distribution center. Seefried Industrial Properties, a regular developer for the e-commerce giant, is proposing to build 202,044-square-foot facility northwest of the Republic Drive and Independence Boulevard intersection within the Ford Commerce Park. The company is behind building Amazon distribution centers in Lake Nona, as well as facilities in California, North Carolina and Alabama.
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 9
In the News
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FLORIDA’S TURNPIKE
FLORIDA’S TURNPIKE27
27
27
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33
19
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SOUTH LAKE
HOSPITAL
ACADEMYMIDDLE SCHOOL
MIDDLE SCHOOL
CITY OF CLERMONT
CITY OF MINNEOLA
MIDDLE SCHOOL
MIDDLE SCHOOL
CITY OF GROVELAND
CITY OF MASCOTTE
HIGH SCHOOL
HIGH SCHOOL
HIGH SCHOOL
GOLF COURSE
GOLF COURSE
GOLF COURSE
GOLF COURSE
ELEMENTARY SCHOOL
ELEMENTARY SCHOOL
ELEMENTARY SCHOOL
ELEMENTARY SCHOOL
ELEMENTARY SCHOOL
ACADEMY
ORLANDO(37 MILES)
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Aerial
26,000 VPD
26,500 VPD
10,000 VPD
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
POPULATION
1-MILE 3-MILES 5-MILES
2010 2,552 11,912 21,450
2019 3,015 14,506 27,853
2024 3,404 16,457 31,650
2019 HH INCOME
1-MILE 3-MILES 5-MILES
Average $71,094 $65,293 $66,527
Median $58,805 $56,231 $55,870
LAKE COUNTY TOP EMPLOYERS
EMPLOYER # OF EMPLOYEES
Lake County Schools 5,600
Central Florida Health 2,686
Florida Hospital Waterman 1,763
South Lake Hospital 1,430
Ace Staffing Unlimited Inc. 1,200
GROVELAND
THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS
IS OVER $71K This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
ORLANDO(37 MILES)
KISSIMMEE
ALTAMONTE SPRINGS
LEESBURG
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Demographics
ORLANDO
GROVELAND, FLORIDA
GROVELAND is a city within Lake County located in central Florida 35 miles west of Orlando and 70 miles northeast of Tampa. The city is within the Orlando-Kissimmee-Sanford metropolitan area, which ranks 7th in the U.S. for economic growth, bringing business, employment, and population to the area. The city has experienced a steady population growth of over 15,000 people over the past ten years, making it the fastest growing city in Lake County.
The central location of Groveland and the region’s transportation network give excellent access to other areas in Florida via U.S. Highway 27, State Road 19, 33 and 50, and the Florida Turnpike. Groveland benefits from it’s close proximity to Orlando International Airport and Tampa International Airport, both within 45 to 60 minutes of the city.
ORLANDO is known as the “Theme Park Capital of the World,” drawing more than 75 million visitors from around the world to its tourist attractions in 2018. In addition, Orlando is known as a industrial and high-tech
center. The metro area has a $22 billion technology industry employing 80,000 people, and is a nationally recognized cluster of innovation in digital media, agricultural technology, aviation, aerospace, and software design. More than 150 international companies, representing approximately 20 countries, have facilities in the Orlando metro area.
ORLANDO MSA
2.5 MILLION
ORLANDO MSA POPULATION (ESTIMATED)
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
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Location Overview
Contact us.
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Copyright © 2020 Capital Pacific Partners
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
RICK [email protected]: 415.274.2709CA BRE# 01792433
REPRESENTATIVE PHOTO
IN CONJUNCTION WITH FL LICENSED BROKER: John ParkBerkshire RealityPH: [email protected]