3255 W Stetson Ave
Hemet, CA
Property Highlights
November Capital is pleased to present a brand new construction 7-Eleven asset located at the corner of South Sanderson Ave and W Stetson Ave in Hemet, California. The opportunity is to acquire the fee simple interest (land and building ownership) in an Absolute NNN, investment grade (S&P: A), 7-Eleven property located in Hemet, California. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period – providing some hedge against inflation. The lease is signed by 7-Eleven Corporate (Investment Grade) and is absolute NNN with no management responsibilities on the investor. An ideal passive investment opportunity for an investor looking for a management free asset. The building is currently under construction and scheduled to open in late Q3 2023. The property consists of a 12 bay fuel canopy and 4,088 SF convenience store. Built with high quality materials by an experienced 7-Eleven preferred developer and to the newest state of the art prototype design.
The subject property is strategically located at the signalized hard corner intersection of the SEC at South Sanderson and W Stetson Ave (56,000 vehicle per day intersection.) The asset is being constructed along a vibrant retail area located directly across from a strong performing Walmart Supercenter – with whisper sales estimates of over $100M a year. Other neighboring tenants include: Walgreens, US Bank, Starbucks, Dollar Tree, Hibbett Sports and Buffalo Wild Wings. Additionally, and directly adjacent to the brand new construction 7-Eleven will be a new construction national car wash brand as well as a new construction national fast food tenant – demonstrating the high value of the underlying real estate. The trade area boasts a high population count with over 148,000 people living within 5 miles of the site. Hemet is a large, mostly suburban community in the San Jacinto Valley– one hour from Palm Springs, ninety minutes from San Diego, and two hours from Los Angeles.
Property Information
- Property: 7-Eleven – Hemet, CA
- Price: $6,644,444
- Cap Rate: 4.50%
- Building Size: 4,000
- NOI: $299,999
- Lease Type: Absolute NNN
- Tenant: 7-Eleven
- Status: Available
