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7-Eleven - Indio, CA

Listing was updated at: 06/13/2019

Property Overview

Price/Rent PSF $ 1,650,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 2,943
Date Available 06/13/2019
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Description

Location
Located at the southeast corner of the Jackson and Avenue 44 intersection, the property enjoys excellent visibility and access and is situated in close proximity to both HWY 10 and HWY 111. Jackson Street generates approximately 13,700 CPd and the property enjoys approximately 82,340 residents within a 3 mile radius. The city of Indio is conveniently located along Interstate 10, Highway 86, and served by rail, air and bus. Indio’s resident population has grown over 50% since 2000, driven by major employers such as the County of Riverside, Desert Sands Unified School District and John F. Kennedy Memorial Hospital. Indio located within Coachella Valley and is widely known for holding mul-tiple nationally-recognized festivals, such as Coachella, Stagecoach and Tamale. Coachella Valley is located in Riverside County, just east of Los Angeles County.

Sale
This offering includes a 2,943 square foot free-standing retail building which was upgraded in 2012. The property is 100% occupied by 7-eleven, Inc – the world’s largest convenience store chain and top chain in California. 7-Eleven has signed a corporate guaranteed 10 Year lease with 10% rental increases every 5 years, including all option periods. The lease includes two (2) five (5) year options - initial term expires 12/31/22. Opportunity Zones are a new tool for community development. This property is recognized as a California Opportunity Zone. California Opportunity Zones will support new investments in environmental justice, sustainability, climate change, and affordable housing. Established in the Tax Cuts and Jobs Act of 2017, Opportunity Zones provide tax incentives for investment in designated census tracts. The property is located at the Southeast corner of North Jackson Street and Avenue 44 within a growing neighborhood of Indio, CA and is in close proximity to HWY 10 and HWY 111. The property also enjoys excellent street visibility and access from every direction. 7-Eleven currently operates over 48,000 stores in 16 countries and is considered the most successful convenience store chain in the world.

Location

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