|Gross Leasable Area (GLA)||2,997|
|Price Per Square Foot (GLA)||$900.90|
|Lot Size||1.00 acres|
Marcus & Millichap is pleased to offer for sale the 7-Eleven located in Port Richey, Florida.
The subject property is a 2,997-square foot convenience store and gas station built in 1999. The property is currently priced at $900 per square foot at a 7.28% cap rate. The property is ideally located in Port Richey at the lighted intersection of Ridge Road and Regency Park Boulevard seeing an average daily traffic count of 32,043 and 17,475 respectively.
The subject property offers investors an opportunity to acquire a corporate-guaranteed lease for long-term, stable cash flow. Rapidly developing Pasco County has approved a $22 million road-widening project immediately to the east of the property, increasing Ridge Road from two to four lanes for three miles leading up to Moon Lake Road. The impact will be increased traffic and a more efficient traffic flow leading to the subject property.