7-Eleven | Brand New Construction | 15-Year BTS Corporate Ground Lease

465 S Wickham Road Melbourne, FL 32904

465 S Wickham Road, Melbourne, FL, 32904
Subject
465 S Wickham Road, Melbourne, FL, 32904 465 S Wickham Road, Melbourne, FL, 32904 465 S Wickham Road, Melbourne, FL, 32904
FOR SALE
Property Type:
Single Tenant Retail (NNN)
Amount:
$4,702,358
Cap Rate:
4.20%
Last Verified:
Jul 26, 2022
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Description

*RELOCATION STORE* Brand New 15-Year Corporate Ground-Lease | Minimal LL Responsibilities. The Lease is corporate guaranteed by 7-Eleven, Inc., an investment grade tenant (S&P: AA-) headquartered in Dallas, Texas. The Lease provides for minimal landlord responsibilities, and features 10% rental increases every five (5) years through the initial 15-year base term, and in each of the four (4) five-year option periods. Rent commenced at this location on June 19, 2022. Brand new, quality construction, 1.6±AC lot strategically located on a hard, signalized SEC corner at the intersection of Wickham Road and West Nasa Blvd, and with exposure to a combined 48,500± vehicles-per-day (2020). Situated on the going-to-work side of the road, Subject benefits from excellent visibility and convenient points of ingress and egress for more than 20K±employees in the immediate area, and both domestic & international travelers arriving at Melbourne-Orlando Int'l Airport with car-rentals to return. Built to the latest 7-Eleven prototype, including eight gas pumps.

Highlights

  • Relocation Store | Brand New, 15-Year Corporate Ground Lease w/ Minimal to Zero LL Responsibilities
  • Situated on Going-to-Work Side of Road at Signalized Hard SEC with Excellent Visibility & Access with Monument Signage
  • Significant Traffic Count Increase when FDOT Project to Widen Ellis Road to 4-lanes is Completed
  • Lease Features 10% Rental Increases every 5-Years through Initial 15-Year Base Term & in Each of the Four (4) Option Period
  • Benefits from Close Proximity to Melbourne-International Airport and Travelers Returning Rentals & County's Top Employers in the Immediate Area

  • Additional URLs

    Map of 465 S Wickham Road, Melbourne, FL, 32904

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