1900 10th N Ave Lake Worth Beach, FL 33461-3310

Property Details for 1900 10th N Ave

Year built

1990

Lot size

1.20 lot acres

Property size

1,650 SF

Zone code

MU-W

Property type

Commercial land

APN

38-43-44-21-02-005-0030

APU

38434421020050030

Description

This exceptional investment opportunity presents a newly constructed, 4,730 square foot 7-Eleven convenience store and gas station, situated on a 1.34-acre lot at the high-traffic intersection of I-95 and 10th Avenue North in Lake Worth Beach, Florida. The property boasts a 15-year absolute NNN ground lease, commencing November 1, 2023, and expiring November 1, 2038, with three 5-year renewal options. The lease includes a corporate guarantee from Seven & i Holdings Co., Ltd., providing significant financial security. The property features 14 gas pumps and benefits from a 10% rent increase every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $177,500, representing a 4.73% capitalization rate on the $3,750,000 asking price, or $792.81 per square foot. Built in 2023, this Class A property is currently 100% occupied. The property's location at a major highway intersection and the strength of the 7-Eleven brand promise a stable and lucrative investment for years to come. The property's APN is 38-43-44-21-02-005-0030. The site also includes a Laredo Taco Company. This is a rare opportunity to acquire a high-performing, stabilized retail investment with a globally recognized tenant and significant long-term growth potential.