GREELEY – A local investor, under the entity KAK Properties LLC, recently paid $1,110,000 for the 7-Eleven gas station property at 2803 W. 10th St., a property that listing broker Steve Kawulok of Sperry Van Ness/The Group Commercial said attracted a lot of national interest because of the tenant and lease status.
7-Eleven has six years remaining on the triple-net lease with renewal options after that. Under the terms of the lease, Kawulok said 7-Eleven takes care of most items concerning the upkeep of the property, making for low-hassle and strong cash-flow yield for the investor.
“There’s a lot of demand for triple-net lease properties,” Kawulok said.
Kawulok listed the property, which sits at the northwest corner of 10th Street and 28th Ave. in Greeley, along with Steve Griffith of Griffith Realty Advisors. Drake Johnson of Drake Johnson Realty represented the buyer.
The property, on two-fifths of an acre, includes a 2,700-square-foot convenience store that was converted to a 7-Eleven in 2011.
