September 5, 2019— Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has brokered the sale of a single-tenant gas station and convenience store property fully occupied by 7-Eleven, located at 714 Burnt Store Road in Cape Coral, FL, the largest city between Tampa and Miami.
7-Eleven is the world’s largest convenience-store chain, operating, franchising and licensing more than 60,000 stores in 18 countries.
Avison Young Principals Chris Maling and David Maling, who are both based in the company’s downtown Los Angeles office, represented the seller, a California-based family trust. The buyer, an active triple-net lease retail investor based in Chicago, was sourced by Avison Young’s listing team.
Situated on a 1.1-acre lot, the property was built in 2005 and includes a 4,000-square-foot (sf) convenience store as well as a gas station with eight fuel bays with 16 total pumps that is open 24 hours per day. The property is located at a four-way intersection on a major north/south thoroughfare and serves more than 17,000 households in the immediate area.
“In addition to its strong, nationally recognized tenant, this is the only gas station within a two-mile radius – a factor that was very attractive to prospective buyers,” comments Chris Maling. “Additionally, Cape Coral is a growing market with a population that has increased 27% since 2010 and is expected to receive an estimated 14% population growth over the next five years. Furthermore, this site is key for outdoor enthusiasts due to its proximity to fishing and boating areas.”