18590 Skipper Ln Morgan Hill, CA 95037
- Retail properties
- 3,700 SF
- 1.32 lot acres
Current Use by Public Records
- Retail properties
Property Details for 18590 Skipper Ln
- Year built
- 2021
- Lot size
- 1.32 lot acres
- Property size
- 3,700 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 3,700-square-foot, Class A, 7-Eleven convenience store and gas station located at 18590 Skipper Ln, Morgan Hill, CA 95037. Situated on a 1.318-acre lot in the thriving Evergreen Village shopping center, this property boasts a prime location with excellent visibility and high traffic volume. The property benefits from its proximity to US Highway 101, connecting major California cities. Neighboring tenants include prominent national brands such as Starbucks, Chick-fil-A, Walmart, and Target, ensuring consistent foot traffic. Built in 2021, this single-story building features eight gas pumps and will include two new EV chargers by late 2024, further enhancing its appeal. The property is currently 100% occupied under an absolute NNN lease with a credit-rated, corporate-guaranteed tenant. The 15-year lease commenced January 1, 2022, and includes three five-year renewal options, each with a 10% rent increase. The current lease term has 12.1 years remaining. The Net Operating Income (NOI) is $398,176, and the asking price is $9,368,600. This is a rare opportunity to acquire a strong-performing, well-located 7-Eleven with significant long-term growth potential in the heart of Silicon Valley. An on-site car wash adds to the property's revenue streams.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morgan Hill
- County
- Santa Clara
- State
- California
- Longitude
- -121.659
- Latitude
- 37.1487
