Updated Oct 29, 2024
Hanley Investment Group Arranges $2.4M Sale Of 7-Eleven In El Centro
555 N Imperial Ave, El Centro, CA 92243
$2,400,000
$816/SF
Building Size
2,940 SF
Asset Type
Retail
Closing
May 8, 2023
About this deal
AI
The newly constructed 7-Eleven convenience store and gas station located at 555 North Imperial Avenue in El Centro, California, has been sold for $2.4 million. The property spans 2,940 square feet and sits on 0.78 acres of land. This sale represents a cap rate of 4.08% for the 15-year absolute triple-net ground lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,400,000
- Address: 555 North Imperial Avenue, El Centro
- Market: El Centro
- Acres: 0.78
Imperial Retail Investments sold the property to a private investor from Orange County, California, in an all-cash 1031 exchange deal. Hanley Investment Group Real Estate Advisors, represented by brokers Bill Asher and Jeff Lefko, facilitated the transaction. This sale at a 4.08% cap rate marks one of the lowest cap rate sales for a 7-Eleven nationwide in 2023.
Players
El Centro Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93