Year Build: 0
Building Size: 2,400 SqFt.
No of Stories: 1
Total Lot Area: 0.00 Acre
No of Parking: 0
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Heating and Cooling
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: Yes
Business Price Included?: No
Roofing: Tile
Occupancy: 100%
Full Description
7-Eleven is located at 341 North Main Street in Tooele, Utah. The subject property is an approximate 2400-square-foot single-tenant building on an estimated 0.47 acres of land. The sales price represents $22.25 per square foot. Built in 1977, 7-Eleven has remained a staple of the Tooele community for 37 years. 7-Eleven has 9.7 years left on an absolute triple-net (NNN) lease with no landlord responsibilities. There are two, 5-year renewal options remaining with 10 percent increases in each option.
7-Eleven is visible to approximately 28,880 vehicles per day as it is situated along Tooele's main retail corridor. Neighboring tenants include Best Western, Gold Gyms, Little Caesars, Subway, Walgreens, Big 5 Sporting Goods, Key Bank and Wells Fargo. Within a five-mile radius average household income exceeds $58,000. In 2013, 7-Eleven's rent to sales ratio was less than 3.5 percent.
Tooele City, a Utah community, is located on the western slopes of the
Oquirrh Mountains. It is located about 35 miles southwest of Salt Lake
City. Even though the origin of the name Tooele has been disputed for
decades, everyone agrees that it has a rich, colorful history.