August 31, 2020 – Matt Nadler and RJ Tuller of Horvath & Tremblay have successfully completed the sale of 7-Eleven in Ferndale, Michigan. Horvath & Tremblay procured the buyer to complete this transaction at a sale price of $605,000, a 5.84% Cap Rate.
7-Eleven is located at 1040 W Nine Mile Road in Ferndale, Michigan. The stand-alone building contains 2,580 square feet on a 0.38-acre lot. 7-Eleven has been at this location for more than 33 years and has 3.5 years remaining on an Absolute NNN lease with three, 5-year renewal options, each of which has CPI increases. 7-Eleven is located on a hard corner signalized intersection with excellent visibility and access. Additionally, 7-Eleven benefits from outstanding area demographics with more than 405,000 people living within a 5-mile radius of the property.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.