One of the Lowest Cap Rates for a Single-Tenant 7-Eleven Nationwide in 2023

EL CENTRO, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a new construction, single-tenant property occupied by a 7-Eleven convenience store and gas station in Imperial Valley, California. The sale price was $2.4 million for the new 15-year absolute triple-net ground lease, representing a cap rate of 4.08%.

Hanley Investment Group's Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller, Imperial Retail Investments, LLC, based in Orange County, California. The buyer, a private investor from Orange County, California, was self-represented.

"We procured a Southern California-based all-cash 1031 exchange buyer for a new 7-Eleven situated at the busiest intersection in El Centro. We achieved an all-time record-low cap rate for a single-tenant 7-Eleven in the Imperial Valley, and one of the lowest-cap rate sales for a 7-Eleven nationwide in 2023," Asher said.

Built in 2021, the single-tenant 2,940-square-foot 7-Eleven is located on 0.78 acres at 555 North Imperial Avenue in El Centro, adjacent to the signalized intersection of Imperial Avenue and Adams Avenue (46,000 cars per day at the intersection). Imperial Avenue (Highway 86) is the primary retail corridor in the Imperial Valley.  

The property benefits from the two 30-foot pylon signs, one facing Imperial Avenue and the other facing Adams Avenue. 7-Eleven is also directly adjacent to Carl's Jr. and Express Lube. Nearby tenants include Costco, Lowe's, Target, Walmart Supercenter, 99 Cents Only, ALDI, Ashley HomeStore, Cardenas, Grocery Outlet, Harbor Freight Tools, PetSmart, Planet Fitness, Rite Aid, Ross Dress for Less, Smart & Final, Vons, Tractor Supply and Walgreens.

The property serves the Imperial Valley and Mexicali (Mexico), creating a combined primary customer base of approximately 1.5 million people. According to Asher, the Imperial Valley is one of the most productive agricultural regions in the world; the total dollar value of the region's agriculture production increased 51% over the last decade to $2.06 billion annually, outpacing inflation by over 31%.

The 7-Eleven property benefits from its proximity to the recently developed Lotus Ranch (609 single-family homes), Town Center Villas (240 apartments), and several planned communities such as Citrus Grove Estates (120 single-family homes).

El Centro is the largest city in Imperial County and is located 10 miles north of two Calexico/Mexicali border crossings, benefiting from nearly 20 million people crossing at these ports annually.

7-Eleven has more than 83,000 locations across 19 countries (13,000+ in the U.S.) and has more units than any other retailer or food service provider in the world. Furthermore, 7-Eleven consistently ranks as one of the top U.S. franchises.

According to the company, 7-Eleven was the first convenience store to offer ATM services and sell gas. It was also the first convenience store to remain open 24 hours a day, seven days a week.

"7-Eleven is one of the most sought-after single-tenant investments across the country in today's market. 7-Eleven is one of the largest, most successful retailers in the U.S., and the company's operating success as an essential business during the pandemic further accentuated the attractiveness of this investment-grade tenant," noted Asher.

"As investors look to the future and have concerns about potential economic instability, buyers will seek essential businesses with a high credit rating (S&P: A) like 7-Eleven, which can do well during challenging times and provide a reliable cash flow," continues Asher. "For these reasons, we expect that sales volume for single-tenant 7-Eleven net-leased retail investments will remain strong in 2023."

Hanley Investment Group has sold 43 7-Eleven retail investments in the last four years including recent sales in Perris, Indio and Rancho Cordova, California. Hanley Investment Group has a brand-new single-tenant 7-Eleven convenience store and gas station currently listed for sale in Beaumont, California (contact Bill Asher for further details at 949.585.7684 or basher@hanleyinvestment.com).  

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $10 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com.

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Bill Asher, Executive Vice President
Email: Send Email
Phone: 949.585.7684
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/