San Francisco Bay Area 7-Eleven All Photos are of the Actual Store Long term occupancy lease just renewed strong sales 1208 Tennessee St, Vallejo, CA, 94590 For more info on this opportunity please contact: RICK SANNER rsanner@capitalpacific.com (415) 274-2709 CA BRE# 01792433 CHRIS KOSTANECKI ck@capitalpacific.com (415) 274-2701 CA BRE# 01002010 BOB SANNER bsanner@capitalpacific.com (415) 274-2717 CA BRE# 00869657 JOHN ANDREINI jandreini@capitalpacific.com (415) 274 2715 CA BRE#01440360 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.
7- ELEVEN IS A FREESTANDING PROPERTY LOCATED IN THE SAN FRANCISCO BAY AREA Investment Highlights PRICE: $1,090,000 CAP: 5.35% RENTABLE SF.... 2,160 PRICE PER SF.... $503 LAND AREA.... 0.18 Acres The tenant has occupied the property in the San Francisco East Bay Area since it was built in 1973, and it has just renewed the lease. Rent as a percentage of sales is reasonably low, and sales are increasing strongly year-overyear. There are no gasoline pumps at this location, nor have there ever been. The site at the NWC of Tennessee Street and Glenn Street is one mile west of the Tennessee Street entrance and exit to I-80. Adjacent on the west side is an attractive, large branch of U.S. Bank., which reports outstanding deposits of $70 million. LEASE TYPE...... Modified NNN (see below) YEAR BUILT.... 1973 NATIONAL TENANT This is a corporate store CREDIT RATING - HIGH INVESTMENT GRADE Investment Grade, AA- rating LEASE HIGHLIGHTS Modified NNN. Owner agrees to maintain the structural soundness of the building. All other expenditures are the responsibility of the tenant. This is not a ground lease. The buyer will acquire depreciable improvements. Current lease term ends November 30th, 2019. Tenant recently renewed and rent is $58,320. One five-year renewal option beginning December 1st, 2019 at $64,152 (a 10% increase over the previous rent) 7-ELEVEN 2
Widenmann Elementary 80 29 37 SAN FRANCISCO Co lum bus VALLEJO CORNERS Peoples High School MTS Training Academy GATEWAY PLAZA Cooper Elementary Federal Terrace Elementary Redwood Street 37 Red woo d Pa rkw ay 80 Wardlaw Elementary Vallejo Middle School Jesse Bethel High School Vallejo High School Vallejo Educational Academy 18,900 DAILY e nu e Av Tennessee Street Columbus Parkway Sonoma Boulevard ut ln Wa Sacramento Street MARE ISLAND NAVAL COMPLEX 80 Pa rkw ay
Site Plan The Site Plan is based on an exhibit from the original 1973 lease. It should be verified by a purchaser. Glenn Street Tennessee Street 7-ELEVEN 4
Income & Expense PRICE $1,090,000 Capitalization Rate: 5.35% Total Rentable Area (SF): 2,160 Lot Size (Acres): STABILIZED INCOME 0.18 Per Square Foot Scheduled Rent $27.00 $58,320 Effective Gross Income $27.00 $58,320 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Expenses EQUALS NET OPERATING INCOME $0 $58,320 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 7-ELEVEN 5
Rent Roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT 7 - Eleven, Inc. 2,160 Current 11/30/2019 $58,320 $4,860 $58,320 $2.25 $27.00 Option 12/1/2019 11/30/2024 $5,346 $64,152 $2.48 $29.70 Totals: 2,160 $58,320 $4,860 $58,320 $2.25 $27.00 Note: There is only one option, five years This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 7-ELEVEN 6
7-Eleven FOR FISCAL 2013, THE TENANT HAD NET SALES OF $1.83 BILLION ABOUT 7-ELEVEN What started out as an ice house in Dallas, Texas in 1927 has grown and evolved into the world s largest chain of convenience stores. The company operates, franchises and licenses close to 8,700 convenience stores in the U.S. and Canada. Of the more than 7,900 stores in the United States, more than 6,200 are franchised. However, the subject is a corporate store. Outside of the U.S. and Canada, there are more than 44,800 7-Eleven stores in Japan and thirteen other countries. 7-Eleven, Inc. is the wholly-owned U.S. subsidiary of a Japanese parent company. The parent company of 7-Eleven, Inc., is Seven & I Holdings, a public company on the Tokyo stock exchange. Both the tenant and the parent are rated AA-. S&P RATING AA- : Stable Outlook NUMBER OF WORLDWIDE LOCATIONS 53,500+ NUMBER OF U.S. STORES 7,900+ 7-ELEVEN 7
Regional Map Vallejo CA Location TRAFFIC COUNTS IN EXCESS OF 18,900 VPD ON TENNESSE ST Vallejo VALLEJO 40 Minutes 32 Miles san francisco 7-ELEVEN 8
San Francisco Bay Area Location & Demos VALLEJO, CA OVERVIEW Vallejo is located in the northern part of the East Bay region of the San Francisco Bay Area and is accessible by Interstate 80 between San Francisco (32 miles southwest) and Sacramento (87 miles northeast). Vallejo is the largest city in Solano County with a 2010 population in excess of 115,000, making it the tenth most populous city in the Bay Area. Vallejo is a popular destination due to its central location and unique attractions. A high-speed commuter ferry service runs from a terminal on Mare Island in Vallejo non-stop to San Francisco. The city is also just an hour away from a generous array of Napa and Sonoma wineries. In addition, Vallejo is home to Six Flags Discovery Kingdom, America s only combination marine life, wildlife, and wild rides theme park and one of the city s top employers. Healthcare and government are other major industries in Vallejo. San Francisco is the fourth most populous city in California, and the fourteenth most populous city in the United States. Many Vallejo residents commute to San Francisco or other suburbs via car, ferry, or bus. POPULATION 2013 HOUSEHOLD INCOMES 1-Mile 3-Mile 5-Mile TOP EMPLOYERS IN VALLEJO Kaiser Permanente Medical Center Six Flags Discovery Kingdom Vallejo City Unified School District Kaiser Permanente Call Center Sutter Health Medical Center 1-Mile 3-Mile 5-Mile 2010 21,124 104,602 151,387 2013 21,262 104,925 152,693 2018 21,868 107,543 157,304 Average $65,364 $73,340 $83,744 Median $50,142 $55,621 $63,911 7-ELEVEN 9
A unique HUMAN RESULTS-DRIVEN client experience THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS [ www.capitalpacific.com ] RICK SANNER rsanner@capitalpacific.com (415) 274-2709 CA BRE# 01792433 CHRIS KOSTANECKI ck@capitalpacific.com (415) 274-2701 CA BRE# 01002010 BOB SANNER bsanner@capitalpacific.com (415) 274-2717 CA BRE# 00869657 JOHN ANDREINI jandreini@capitalpacific.com (415) 274 2715 CA BRE#01440360 Copyright 2014 [Capital Pacific Real Estate Brokerage Company]