MHM Development Sells 7-Eleven On Immokalee Road In Naples For $10.65 Million

The property involved in this transaction is a newly built 7-Eleven, located at 13677 Immokalee Road in Naples. It spans 4,650 square feet and sits on a 2.02-acre lot. The sale price for this retail asset was $10,650,000, which translates to a price per square foot of $2,290. The property is under a 15-year absolute triple-net lease with 7-Eleven, and it includes a gas station and car wash.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $10,650,000
• Address: 13677 Immokalee Road
• Market: Naples
• Asset Size: 4,650 SF
• Price Per Square Foot: $2,290
• Acres: 2.02
• Seller: Mike Metcalf - MHM Development
• Brokers: Alan Lipsky & Barry Wolfe - Marcus & Millichap

This transaction involved Mike Metcalf, representing MHM Development as the seller, while Alan Lipsky and Barry Wolfe acted as brokers from Marcus & Millichap in the sale. Notably, the property was sold as part of a 1031 Exchange.