December 23, 2021 – Hobart Hare and Daylan Skidmore of Horvath & Tremblay have successfully completed the sale of 7-Eleven in Poinciana, Florida. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $6,854,000.
7-Eleven is located at 6519 Marigold Avenue in Poinciana, Florida. This is a new construction 7-Eleven that was completed in 2021. The property consists of a 3,461 square foot 7-Eleven with six gas pumps and a convenience store on 1.37-acres of land. 7-Eleven has a new 15-year corporate guaranteed Absolute NNN lease followed by five, 5-Year renewal options. The lease calls for an attractive 10% rent increase beginning in year 11, and at the start of each renewal option. 7-Eleven is strategically located at the signalized intersection of Marigold Avenue and Hemlock Avenue. The property is surrounded by high-density, single-family housing developments and large townhouse complexes in a rapidly growing area. There has been a 31 percent population increase within a 5-mile radius of the property since 2010. Additionally, the property enjoys close proximity to Poinciana’s most highly attended schools including Laurel Elementary School and Lake Marion Middle School with more than 1,450 students combined.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.