For Sale
$3,750,000

1900 10 AveLake Worth Beach, FL 33461

High-Yield 7-Eleven NNN Ground Lease

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a newly constructed, 4,730 square foot 7-Eleven convenience store and gas station, situated on a 1.34-acre lot at the high-traffic intersection of I-95 and 10th Avenue North in Lake Worth Beach, Florida. The property boasts a 15-year absolute NNN ground lease, commencing November 1, 2023, and expiring November 1, 2038, with three 5-year renewal options. The lease includes a corporate guarantee from Seven & i Holdings Co., Ltd., providing significant financial security. The property features 14 gas pumps and benefits from a 10% rent increase every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $177,500, representing a 4.73% capitalization rate on the $3,750,000 asking price, or $792.81 per square foot. Built in 2023, this Class A property is currently 100% occupied. The property's location at a major highway intersection and the strength of the 7-Eleven brand promise a stable and lucrative investment for years to come. The property's APN is 38-43-44-21-02-005-0030. The site also includes a Laredo Taco Company. This is a rare opportunity to acquire a high-performing, stabilized retail investment with a globally recognized tenant and significant long-term growth potential.

Highlights

  • Newly built 7-Eleven NNN ground lease on a 1.34-acre lot in Lake Worth Beach, FL.
  • Property located at I-95 and 10th Ave, Lake Worth Beach, also includes a Laredo Taco store.
  • Investment-grade tenant with strong corporate backing from Seven & i Holdings; corporate guarantee provided.
  • Triple-net (NNN) lease with minimal landlord responsibilities.
  • 15-year lease (14 years remaining), commencing November 1, 2023, with three 5-year options; 10% rent bumps every 5 years.

Property Details for 1900 10 Ave

Property type
Retail properties, Grocery and convenience stores
Square Feet
4,730 SF
Class
A
Year Built
2023
Buildings
1
Stories
1

Location Insight

City
Lake Worth Beach
County
Palm Beach
State
Florida
Latitude
26.628018460327
Longitude
-80.070808941621
1900 10 Ave, Lake Worth Beach, Florida

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1900 10 Ave
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