7-Eleven
2,800 SF | Retail Building | Tacoma, WA 98499 | $5,670,100 ($2,025/SF) | 4.85% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,670,100
- Property Type
-
Retail
- Square Feet
- 2,800 SF
- Price / Square Foot
- $2,025
Listing Contacts
John Andreini
Verified Profile
Bryan Webb
Verified Profile
Kirby Dederian
Verified Profile
- Property Info
Property Overview
An absolute NNN 7-Eleven with over 10 years remaining in the primary term, featuring rare 10% rental increases every 5 years. The subject property, which underwent a full rebrand/remodel by 7-Eleven in 2020, includes a convenience store and a gas station with 12 pumps. Its location boasts high visibility with direct freeway frontage on Interstate 5 (157K VPD) in Lakewood, a densely populated Tacoma submarket. Investor benefits from fee simple ownership, conveying both land and improvements, allowing for accelerated depreciation where applicable.
Property Details
- Class
- B
- Year Built/Renovated
- 1992/2020
- Stories
- 1
- Property Subtype
- Service, Grocery/Convenience Store
- Lot Size (sq. ft)
- 52,708 SF
Highlights
- An absolute NNN single-tenant 7-Eleven with 10.4 years remaining and rare 10% increases every five years
- Zero Landlord maintenance or expense responsibilities – tenant handles all expenses directly including repairs & replacements
- Low 7-Eleven rent, average new rents are almost double what they are paying
- Income tax free state
- Top 20% of 7-Eleven locations in U.S. for annual visits, with 313.7K visits at this location, per Placer.ai
- High visibility and excellent access on a hard signalized corner, featuring I-5 freeway frontage with direct on-ramp access
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