1802 S 7Th St Phoenix, AZ 85006

Property Details for 1802 S 7Th St

Year built

1988

Construction

CONCRETE

Lot size

0.16 lot acres

Property size

2,966 SF

Zone code

R-5

Property type

Office buildings

APN

118-54-049

APU

11854049

Description

Exceptional investment opportunity: a brand-new, 4,650 square foot 7-Eleven convenience store and gas station in Phoenix, Arizona. This property boasts a rare 19-year absolute NNN lease (with three 5-year renewal options) commencing January 1, 2025, and expiring December 31, 2043. The lease includes a corporate guarantee from 7-Eleven, a globally recognized brand, providing significant security. The property sits on a 2.38-acre lot and benefits from a 5.00% cap rate and a strong net operating income (NOI) of $570,000. Rent increases are built in, with a 10% bump scheduled for year 11 and every five years thereafter. Located at 1802 S 7th St, Phoenix, AZ 85034, this high-traffic corner location offers direct access to major freeways including I-17, US 60, I-10, AZ 51, and Loop 202, ensuring high visibility and customer traffic. The property is strategically positioned near major industrial tenants in the Valley Interstate Industrial Center and Sky Harbor Business Park, including Amazon and WESCO Assembly, as well as Arizona State University's campus. Furthermore, it's within two miles of significant attractions such as Chase Field, the Phoenix Convention Center, and Footprint Center. Built in 2024, this property presents a compelling investment opportunity with substantial long-term growth potential. The asking price is $11,400,000, translating to a price per square foot of $2,451.61. 100% occupancy ensures immediate cash flow.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.065

Latitude

33.4687

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments