69Th Street Ct Palmetto, FL 34221
- Retail properties
- 4,822 SF
- 2.95 lot acres
Current Use by Public Records
- Retail properties
Property Details for 0 69Th Street Ct
- Year built
- 2025
- Lot size
- 2.95 lot acres
- Property size
- 4,822 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
Exceptional investment opportunity: a 4,822 square foot 7-Eleven, situated on a 2.95-acre lot at the northeast corner of US 41 and 69th Street East in Palmetto, Florida (zip code 34221). This property boasts a new 15-year absolute NNN lease with a corporate guarantee from 7-Eleven, a tenant with an A S&P rating, ensuring a secure and passive income stream. The lease includes 10% rent bumps every five years, offering protection against inflation. The property benefits from a strategic location adjacent to I-275's entrance/exit, experiencing high daily traffic volume (over 56,000 vehicles per day on I-275 and over 35,000 vehicles per day on US 41 at a signalized intersection). This thriving location is further enhanced by its proximity to a proposed 240-unit multi-family development and other established retailers such as McDonald's, Dunkin' Donuts, Shell, and Circle K. The area also sees significant industrial growth with new facilities from Southeastern Freight Lines, Amazon, and Cisco nearby. The property includes high-speed diesel and car wash services, catering to the high volume of truck traffic. The asking price is $10,873,576, representing a 5.20% cap rate with a current net operating income (NOI) of $565,426. The lease also includes four 5-year renewal options. Built in 2025, this property offers a compelling combination of strong tenant credit, excellent location, and significant growth potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palmetto
- County
- Manatee
- State
- Florida
- Longitude
- -82.5402
- Latitude
- 27.5793
