Triple net investments For Sale | Triple Net / Sale | 7 Eleven
1920 West Balboa Boulevard . Balboa Peninsula , CA 92663
Rare opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, freestanding, coastal Orange County, 7-Eleven investment property located in Newport Beach, CA. 7-Eleven recently signed a new 10-year lease with 4 (5-year) options to extend, demonstrating their strong commitment to the site. The lease features 10% rental increases in year 6 of the initial term and at the beginning of each option period. The lease is corporate guaranteed by 7-Eleven, Inc., a globally recognized tenant with 67,000+ locations worldwide. The lease is NNN with minimal landlord responsibilities making it an ideal investment opportunity for a passive investor. The property has a rare dedicated parking field, offering space for up to 15 vehicles on the parking constrained corridor of Balboa Boulevard. For more information please contact the listing agent, MICHAEL WALSETH 949.400.4261 michael.walseth@kidder.com
Posted: 11/17/2020 2:57 pm
| On HOMEiZ: 1248 days |
Updated: 3 years ago
| Views: 1576
Location Map
Property Type
Sold
Property Price
$5925000
$5925000
10/29/2020
Property Location & Description
Rare opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, freestanding, coastal Orange County, 7-Eleven investment property located in Newport Beach, CA. 7-Eleven recently signed a new 10-year lease with 4 (5-year) options to extend, demonstrating their strong commitment to the site. The lease features 10% rental increases in year 6 of the initial term and at the beginning of each option period. The lease is corporate guaranteed by 7-Eleven, Inc., a globally recognized tenant with 67,000+ locations worldwide. The lease is NNN with minimal landlord responsibilities making it an ideal investment opportunity for a passive investor. The property has a rare dedicated parking field, offering space for up to 15 vehicles on the parking constrained corridor of Balboa Boulevard. For more information please contact the listing agent, MICHAEL WALSETH 949.400.4261 michael.walseth@kidder.com
The subject property is located at the irreplaceable, signalized, hard corner intersection of W. Balboa Boulevard and 20th Street with over 21,000 vehicles passing by daily. West Balboa Boulevard is a transition street from Costa Mesa Freeway/State Highway 55 (141,000 VPD). 7-Eleven has excellent visibility with large amounts of street frontage and two points of ingress/egress making it easy for customers to access the site. The site is located in the heart of the Newport Peninsula within walking distance to the boardwalk, the Newport Pier, and restaurant and bars. The store is poised to capture strong demand from the daily through traffic and strong weekend crowds. The 5-mile trade is supported by a population of nearly 208,000 with an affluent average household income of $140,000. The immediate 1-mile average household income boasts a strong $179,000. Orange County is one of the most affluent and desirable regions in Southern CA, and is the third most densely populated county in the state of CA.
Tenant Information
National Tenants (Public company)
67,000+
Baa1
65 Trillion U.S Dollars
29.3B
Dallas, TX
Tenancy Type
Single
Yes
1
Corporate Overview
SVNDF
Property Overview
1975
Good
Exist
3651
10523
Sq. Ft.
3651
Sq. Ft.
047-161-38
Off-street
Assigned Parking
No
1
Income
Contact listing agent%
$1623
4.0%
$237000
No Data%
1.25%
Tenant
Lease overview
10
10
(4) 5 Year Options
No Data%
Tenant Option
No Termination Clause
Yes
No
Landlord
NO
No
Lease Guarantor
Cooperate
Lease Structure
100% Absolute Triple Net Lease (NNN Lease)
Sewer
Sewer System (Public)
Investment Overview
Investor
Ownership Overview
Fee simple absolute
Property Highlights
Brand New 10-Yr Lease
Corporate Guaranteed
Rental Increases
Investment Grade Tenant
Rare Costal Orange County Offering
Signalized, Hard Corner Intersection
More information
Not in MLS
Listing Presented by
Disclimer: Any information relating to a property referenced on HOMEiZ.com comes from
the listing provider who wishes to post a listing on HOMEiZ.com. The accuracy of all
information, regardless of source, including but not limited to square footages and lot
sizes, is deemed reliable but not guaranteed and should be personally verified through
personal inspection by and/or with the appropriate professionals. HOMEiZ does not verify
the property information submitted in HOMEiZ.com and cannot guarantee the accuracy of
the information. No warranties or representations are made of any kind. Any
dissemination of this information is in violation of copyright laws and is strictly
prohibited.
Copyright © 2016 HOMEiZ A Media Group LLC. All rights reserved. TOLL FREE 1-818-857-8255