501 Serramonte Blvd - Service Station FOR SALE


Daly City, CA 94015
$6,736,800 USD
424-389-0582
501 Serramonte Blvd, Daly City, CA for Sale
$6,736,800 USD
Service Station - FOR SALE
1/7
null | 4.75% Cap Rate

501 Serramonte Blvd
Daly City, CA 94015


HIGHLIGHTS

  • Newly extended 5-year Absolute NNN lease with corporate guaranty
  • Situated on a major hard signalized corner seeing a combined 50,000 VPD
  • Surrounded by national retail and shopping centers
  • Bonus depreciation on an investment of any gas station
  • 3,900+ Speedway locations across 36 States
  • Affluent average annual household income of $143,000 in a 5-mile radius

OVERVIEW

Century Partners Real Estate Inc. is pleased to present the rare opportunity to acquire a Speedway gas station & convenience store located in the San Francisco Bay Area (Daly City), California. The property, which has operated continuously since 1984 (40+ years), is located on the high-traffic, hard-corner signalized intersection of Serramonte Blvd and Gellert Blvd, a critical crossroads in the primary retail district of Daly City carrying over 50,000 vehicles daily. The property is nestled amongst a major retail pocket, across the street from Target-Anchored Serramonte Center and Sprouts-Anchored Gellert Marketplace. Over 30 major national retail occupiers have chosen to operate in the immediate surrounding market, including McDonald's (directly next to the property) Panera Bread, Verizon, Dick's Sporting Goods, and more, underscoring the incredible real estate fundamentals of the site. The property features a 5-year absolute NNN lease, with a 10% rent bump in the upcoming option period. Speedway was recently acquired by 7-Eleven for $21 billion in 2021. The acquisition greatly expanded 7-Eleven's North American presence, increasing its store count to approximately 14,000 and and enhancing its footprint in key metropolitan areas, particularly in the Midwest and East Coast. The move was seen as a strategic fit for 7-Eleven, allowing the company to optimize operations, boost efficiencies, and further solidify its leadership in the convenience retail industry.

FOR SALE DETAILS

PRICE

$6,736,800 USD

PRICE/SF

$3,645 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Speedway Gas Station & C-Store

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,522 SF

ZONING

C1

APN/PARCEL ID

091-542-060

ASK ABOUT THIS PROPERTY

Joshua BergerCentury Partners Real Estate Inc.More Info
424-389-0582

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Joshua BergerCentury Partners Real Estate Inc.More Info
424-389-0582

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.