RealSource arranges pre-sale of the new 7-Eleven with gas station in Naples, Florida for $ 5.6 million, 4.30% cap rate

NAPLES, Florida – RealSource Group, a national commercial real estate brokerage firm focused on retail, healthcare, automotive and educational properties, today announced the sale of a brand new single tenant net lease investment, owned by 7-Eleven and a. is used gas station in North Naples, Florida. The sale price was $ 5,610,766, which corresponds to a cap rate of 4.30%.

Austin Blodgett, RealSource’s vice president of investment sales, together with ParaSell, Inc. represented the buyer, a private investor based in Los Angeles, California. The seller was Creighton Development of Fort Meyers, Florida and was represented by John Beckman of Retail Site Experts.

“This was a development change from the developer at an established mall in a very affluent, high-traffic, roof-top area,” said Blodgett. “RealSource Group exclusively represented the buyer and generated this off-market transaction opportunity as a result of our contacting our national network of developers and brokers to meet our buyer’s financial goals.”

Blodgett continues, “The purchase of a gas station / C-store allows investors to take advantage of the bonus amortization benefits to offset profits for that tax year. This was the main reason for this group to buy this asset class as this strategy can translate into millions of dollars in tax savings and, in the case of 7-Eleven, you have an investment grade tenant who is considered to be one of the safest investments possible. ”

The new 3,155 square meter building, which opened in early October 2021, is located on 0.80 hectares at 10861 Airport-Pulling Road North in Naples, near the signposted intersection of Immokalee Road (Route 846) and the Airport- Pulling Road North in the Green Tree Center. The 20 acre mall is anchored by CVS Pharmacy and includes the NCH Whitaker Wellness Center, Lake Michigan Credit Union, UPS Store, Taco Bell, Wendy’s, Planet Smoothie, and others. 7-Eleven is also right across from a Sam’s Club anchored mall.

“The Green Tree Center is currently undergoing major renovations,” said Blodgett. “The NCH Healthcare System is reportedly spending millions of dollars renovating its 40,000 square foot facility located in the mall. The existing restaurant offering, which extends from the Boston Beer Garden to Joey D’s Restaurant and Bar, has been expanded to include covered outdoor seating with water fountains and fire pits. Scoops Ice Cream & Acai Bowls joined the local restaurant range which includes LuLu B’s Diner, Black Forest Restaurant and Em-On’s Thai Cafe. “

Convenience stores with gas stations are a very affordable investment, according to Blodgett, because of the tax benefits of using the 100% bonus write-off to offset the investor’s ordinary income and capital gains. Therefore, many C-store buyers with a gas station will typically have short-term ownership and will continue to buy and sell those assets to benefit from this tax strategy year after year, Blodget said. “Fears that the Bonus Depreciation Act will expire in late 2022 are helping to fuel demand for this type of asset and set new record prices across the country,” said Blodgett.

“Out of 229 7-Eleven record sales in Florida, only seven other sales were capped below 4.30%, and all of those sales were within the last 18 months, according to CoStar,” continues Blodgett. “The current record-low cap rate for a single tenant 7-eleven in Florida was only sold a month ago with a cap of 4.05%. This shows how aggressively buyers have gotten into these assets over the past year or so, and we expect cap rates to continue to decline in both the Florida market and nationwide, especially for brand new 7-Eleven with gas station.

About the RealSource Group
Founded in 1991, RealSource Group is a national commercial real estate brokerage company specializing in tenant representation, investment sales and sale-leaseback transactions. With the combination of RealSource’s leasing and sales experience, extensive broker network, technology, unique processes and national reach; RealSource delivers consistency, high production, quality service and measurable business results to its customers on a nationwide platform. RealSource has completed over 850 commercial real estate transactions nationwide, RealSource has perfected its platform through proven execution over the past 30 years. For more information, please visit: realsource.com.

Media contact
Company Name: RealSource Group
Interlocutor: Austin Blodgett, vice president, investment sales
E-mail: Send e-mail
Phone: 949.431.2735
Address:12 Corporate Plaza Suite 150
City: Newport Beach
State: California
Country: United States
Website: https://realsource.com/

See similar https://www.digitaljournal.com/pr/realsource-arranges-pre-sale-of-new-7-eleven-with-fuel-station-in-naples-florida-for-5-6-million-4-30-cap-rate

The post RealSource arranges pre-sale of the new 7-Eleven with gas station in Naples, Florida for $ 5.6 million, 4.30% cap rate first appeared on Daily Florida Press.

from Daily Florida Press https://dailyfloridapress.com/realsource-arranges-pre-sale-of-the-new-7-eleven-with-gas-station-in-naples-florida-for-5-6-million-4-30-cap-rate/