The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased 7-Eleven property located at Gurnee Avenue & Route 9 West in Haverstraw, New York for $5,000,000.
The 7-Eleven is located at the corner of a signalized intersection along U.S. Route 9 West which hosts over 17,000 vehicles per day. Tenants along the retail corridor include ALDI, Tractor Supply Company, ShopRite, Ford, Sherwin-Williams, McDonald’s, Dollar General, and AutoZone. Continual traffic is drawn to the area by several parks including High Tor State Park, Safe Harbor Haverstraw, and the Hudson River. The 7-Eleven is also within proximity to Westside Avenue (20,130 VPD) and Palisades Interstate Pkwy (54,252 VPD). Additionally, 119,811 people live within five miles of the property who earn an average annual household income of $155,685.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a northeast based real estate developer. The buyer was a New York based individual investor in a 1031 exchange.
7-Eleven is the world’s largest convenience store chain operating, franchising, and licensing around 64,319 stores in 18 countries. 7-Eleven is also one of the nation’s largest independent gasoline retailers and was ranked #1 by Entrepreneur Magazine in the 2017 annual “Franchise 500” ranking.
“Single tenant 7-Eleven properties continue to garner significant interest amongst net lease investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Despite the large supply of 7-Eleven properties on the market, locations with solid real estate fundamentals continue to transact.”
