Marcus & Millichap is pleased to present for sale this freestanding, singletenant 7-Eleven located in Bradenton, Florida. Bradenton is in Manatee County located 11 miles east of Sarasota, and 53 miles south of Tampa. The fee simple lease, backed by 7-Eleven Corporate, will have a 15-year lease with 10 percent increases in rent every five years and four, five year options to extend with an expected rent commencement of May 2021. This is an ideal passive investment opportunity with zero landlord responsibilities being offered at a 4.70 percent capitalization rate. The subject property consists of a 4,634 square foot retail space, a single row canopy with eight dispensers (16 fueling stations) and a 980 square foot car wash and with ample parking on a large 3.37-acre parcel. It is strategically located on the northwest corner of State Road 64 and Lorraine Road with a combined traffic count of 19,600 vehicles per day. The property benefits from the 54,192 residents within a 5-mile radius with an expected 25 percent population growth by 2025. According to Forbes magazine, the North Port-Sarasota-Bradenton MSA is ranked #24 in its annual list of Americas 100 Fastest Growing Cities. Forbes looks at growth of population, employment, wages, economic output and used home price growth as a proxy for wealth when creating their list. Specifically, the Lakewood Ranch planned community within Bradenton is growing at a faster pace the already expanding Gulf Coast MSA. Lakewood Ranch has been named the best selling multi-generational planned community in the country with 17 villages to choose from and five new villages and apartment communities having opened in 2020. It also has the ability to offer up to 14 million square feet of commercial real estate space and is home to 1,350 businesses across a variety of sectors, including biomedical, technology, insurance and education. There are numerous National and Regional retailers in the immediate area including Publix, McDonalds, CVS, Wawa, Walgreens, Speedway, SunTrust, Bank of America, Chase Bank among others. 7-Eleven is the worlds largest operator, franchisor and licensor of convenience stores with approximately 68,000 stores in 18 countries. In the 10,500 stores in North America, 7-Eleven offers over 2,500 different products and services.
