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July 24, 2024
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New Santa Rosa 7-Eleven Trades for $8 Mil in record deal


A private investor based in El Dorado Hills has purchased a brand-new construction, single-tenant net-leased investment occupied by 7-Eleven with a gas station in Santa Rosa, in an $8 mil ($2,667/sf) pre-sale transaction. The property is ideally located at the College Ave on/off-ramp of U.S. Hwy 101. We’re told that the sale price represented a national record-high selling price for a 7-Eleven and a cap rate of 4.37%.

The 3k sf 7-Eleven building and gas station are situated on 0.67 acres at 136 College Ave in Santa Rosa, at the hard-corner, signalized intersection of College and the on/off-ramp to Hwy 101. The property benefits from over 155,475 vehicles per day on Highway 101 and 32,750 vehicles per day along College Ave. Within a five-mile radius, there are more than 200,000 people with a household income exceeding $103,000 per year and over 20,300 people work within one mile of the property.

Jeremy McChesney with Hanley Investment Group Real Estate Advisors represented the seller and developer, California Capital Investment Group, out of Pleasant Hill, CA. The buyer was repped by Chris Fenolio, a partner with Weller Partners LLP in San Francisco.

“What started in an icehouse in Dallas, Texas, back in 1927, has evolved into the world’s largest retailer,” said McChesney. “Today, Irving, Texas-based 7–Eleven operates, franchises and/or licenses more than 77,000 stores in 19 countries and regions, including nearly 16,000 in North America. 7–Eleven Inc operates Speedway, Stripes, Laredo Taco Company and Raise the Roost Chicken and Biscuits locations.”

7-Eleven was the first convenience store to offer ATM services and to sell gas. It was also the first convenience store to remain open 24 hours a day, seven days a week, according to 7-Eleven.

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