December 29, 2021 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of 7-Eleven in Naples, Florida. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $9,340,712.
7-Eleven is located at 14905 Tamiami Trail E in Naples, Florida. The Property was constructed for 7-Eleven in 2021 and 7-Eleven has 15 years remaining on their Absolute NNN lease with four (4) additional 5-year renewal options. The lease features a 10% rent increase every five years throughout the base term and at the start of each renewal option. The Property benefits from a central location at the heavily travelled, signalized intersection of Tamiami Trail and Greenway Road. Tamiami Trail boasts average daily traffic counts exceeding 32,000 vehicles. There are more than 22,000 individuals within a three-mile radius of the subject property and over 43,000 individuals within five-miles. The subject property benefits from being positioned adjacent to a dense retail corridor. Directly down the road is Freedom Square Shopping Center and The Shops at Eagle Creek. Tenants in these shopping centers include Publix, Walmart, Aldi, Wawa, Lowe’s, CVS, Hobby Lobby, McDonald’s, Chase Bank, Chipotle, PetSmart, Ulta, Staples, and many more. Directly across from the subject property is Manatee Middle School which services over 900 students in the immediate area. Directly across Tamiami Trail there is currently a Publix Shopping Center under construction that will drive significant traffic to the immediate area. Additionally, this 7-Eleven is surrounded by large manufactured housing communities which historically have low turnover rates.
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.