7-Eleven Investment Property in UT 84074

Convenience Stores/Gas Station / Gas Station/C-Store / 341 North Main Street , Tooele Utah 84074

 
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Tyler Ellinger

Marcus & Millichap

Office Phone: 801-736-2632

Cell Phone: 801-736-2632

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Published on: Monday, February 23, 2015 3:31:23 PM
Updated on: Monday, February 23, 2015 3:34:50 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Utah-40982

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 0

 

Building Size: 2,400 SqFt

Lot Size: 0 Acre

No of Stories: 1

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: Yes

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: 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.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 5

Commission Split (%): 2

Complete Details


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.

Additional Properties


Property Highlights
  • Two, 5-Year Renewal options
  • Established Location for 37 Years
  • Situated Along Tooele's Main Retail Corridor
  • Rent to Sales Ratio of Less than 3.5 Percent in 2013
  • Other Tenants Include Best Western, Gold Gyms, Little Caesars, Walgreens, Big 5 Sporting Goods, Key Bank and Wells Fargo
  • 9.7 Years Remaining on an Absolute Triple-Net (NNN) Lease with 7-Eleven, Inc.

Attached Documents


 Download | Financial Statement ( 74.31KB)

 Download | Financial Statement ( 44.23KB)

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