A brand new 7-11 has sold for a whopping record amount in CA
Shortly after the grand opening of the first 7-Eleven in Madera, California, the property has been sold to a new buyer for a record amount.
The 7-Eleven located at 3720 Avenue 17 in Madera opened its doors at the end of April, just opposite an Arco gas station on Golden State Boulevard.
It has now been sold for $12.18 million, setting a new record for the highest price ever paid for a single-tenant 7-Eleven in California, as reported by Hanley Investment Group Real Estate Advisors.
Hanley Investment Group represented the sellers, Stock Five Development Company from Clovis, with Kidder Matthews from San Diego representing the buyer, a private investor from the Bay Area.
The 7-Eleven in Madera, the first of its kind in the area, announced its opening through a Facebook post on April 23.
Sean Cox from Hanley revealed that they found a buyer specifically looking for a single-tenant 7-Eleven through a 1031 exchange and secured this off-market opportunity through a strong developer relationship.
This sale marks the first time this prototype of 7-Eleven has been sold as a single-tenant asset in California, making it a significant achievement for all parties involved.
In addition to the store, the location in Madera also features a commercial diesel fueling station and EV charging stations.
The 4,644 square foot store is situated on a 4.04 acre lot, and Bill Asher from Hanley mentioned that this sale has set a new standard for the 7-Eleven brand in California.
The property’s proximity to State Route 99 and the future North Fork Mono Casino, along with a new 15-year triple-net lease and an expanded fueling program, made it an attractive investment for the buyer.
The Madera Municipal Airport and the upcoming casino, set to open in the fall, are also nearby.
This sale follows a four-year project that involved extensive infrastructure work, fuel design, and environmental assessments.
It also adds to Hanley’s track record in 7-Eleven sales, with recent deals in Clovis, San Bernadino, and Sacramento.
