12204 Balm Riverview RdRiverview, FL 33579

Property Details for 12204 Balm Riverview Rd

Year built

2020

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.88 AC

Property size (Sq ft)

3,240 SF

Zone code

PD

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

U0331202U7000001000490

APU

U0331202U7000001000490

Description

This exceptional Class A retail investment opportunity presents a 7-Eleven convenience store with an attached car wash, situated on a 1.87-acre lot in Riverview, Florida. The property boasts a 15-year Absolute NNN lease with 10.7 years remaining, commencing August 1, 2020, and expiring August 1, 2035. The lease includes a corporate guarantee from 7-Eleven, Inc., and features 10% rent bumps every five years, covering both the primary term and options. The 3,010 square foot building, constructed in 2020, enjoys 100% occupancy and generates a substantial NOI of $314,856, representing a 4.90% cap rate and a price per square foot of $2,134.88. The property includes eight gas pumps and benefits from a high-traffic location on a hard corner, experiencing over 29,500 vehicles per day. Located minutes from Tampa, this asset offers significant upside potential due to its prime location in a rapidly growing area, Riverview, recently recognized as one of the best small cities to live in by CNN Money. The asking price is $6,426,000. Bonus depreciation and assumable debt are available.

• CAP approach

  CAP return

  Valuation

  6%

  $983,297

  6.5%

  $907,659

  7%

  $842,826

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,491,137

  Geo Method

  $1,491,137

• Alternative Use

  Use

  Valuation

  Residential

  $765,644

  Hospitality

  $701,326

  Educational

  $583,495

  Medical

  $603,562

  Retail

  $907,659

Location Insight

City

Riverview

County

Hillsborough

State

Florida

Latitude

27.821

Longitude

-82.297

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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