Speedway Gas Station & C-Store 501 Serramonte Blvd 1,764 SF Retail Building Daly City, CA 94015 $6,736,800 ($3,819.05/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Newly extended 5-year Absolute NNN lease with corporate guaranty
- Surrounded by national retail and shopping centers
- 3,900+ Speedway locations across 36 States
- Situated on a major hard signalized corner seeing a combined 50,000 VPD
- Bonus depreciation on an investment of any gas station
- Affluent average annual household income of $143,000 in a 5-mile radius
EXECUTIVE SUMMARY
Century Partners Real Estate Inc. is pleased to present the rare opportunity to acquire a Speedway gas station & convenience store located in the San Francisco Bay Area (Daly City), California. The property, which has operated continuously since 1984 (40+ years), is located on the high-traffic, hard-corner signalized intersection of Serramonte Blvd and Gellert Blvd, a critical crossroads in the primary retail district of Daly City carrying over 50,000 vehicles daily.
The property is nestled amongst a major retail pocket, across the street from Target-Anchored Serramonte Center and Sprouts-Anchored Gellert Marketplace. Over 30 major national retail occupiers have chosen to operate in the immediate surrounding market, including McDonald's (directly next to the property) Panera Bread, Verizon, Dick's Sporting Goods, and more, underscoring the incredible real estate fundamentals of the site.
The property features a 5-year absolute NNN lease, with a 10% rent bump in the upcoming option period.
Speedway was recently acquired by 7-Eleven for $21 billion in 2021. The acquisition greatly expanded 7-Eleven's North American presence, increasing its store count to approximately 14,000 and and enhancing its footprint in key metropolitan areas, particularly in the Midwest and East Coast. The move was seen as a strategic fit for 7-Eleven, allowing the company to optimize operations, boost efficiencies, and further solidify its leadership in the convenience retail industry.
The property is nestled amongst a major retail pocket, across the street from Target-Anchored Serramonte Center and Sprouts-Anchored Gellert Marketplace. Over 30 major national retail occupiers have chosen to operate in the immediate surrounding market, including McDonald's (directly next to the property) Panera Bread, Verizon, Dick's Sporting Goods, and more, underscoring the incredible real estate fundamentals of the site.
The property features a 5-year absolute NNN lease, with a 10% rent bump in the upcoming option period.
Speedway was recently acquired by 7-Eleven for $21 billion in 2021. The acquisition greatly expanded 7-Eleven's North American presence, increasing its store count to approximately 14,000 and and enhancing its footprint in key metropolitan areas, particularly in the Midwest and East Coast. The move was seen as a strategic fit for 7-Eleven, allowing the company to optimize operations, boost efficiencies, and further solidify its leadership in the convenience retail industry.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
1,764 SF
Building Class
C
Year Built
1984
Price
$6,736,800
Price Per SF
$3,819.05
Cap Rate
4.75%
NOI
$320,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.54 AC
Zoning
C1
Parking
6 Spaces (3.4 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- 24 Hour Access
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Speedway
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Speedway | Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (86)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 091-542-060 | Improvements Assessment | $645,000 |
| Land Assessment | $2,480,000 | Total Assessment | $3,125,000 |
