Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction

Boulder Group, a net lease investment brokerage firm, completed the sale of a net lease 7-Eleven property with one tenant at 9 Fort Salonga Road in Northport, New York for $5,486,000.

The 2,994 sq ft newly constructed property benefits from its location on Fort Salonga Road (15,607 VPD), which is a major east-west thoroughfare. The property is also located across from the Fort Salonga Shopping Center. Area retailers include CVS Pharmacy, IGA Supermarket, Chase Bank, Fort Salonga Animal Hospital and many more. 99,925 people live within a five-mile radius of the property, earning an average annual income of $164,569.

Randy Blankstein and John Feeney of The Boulder Group represented the buyer in the transaction, who was a Northeast-based real estate investor on a 1031 exchange. The seller was a Northeast based real estate company.

7-Eleven recently signed a 15-year lease. The lease offers renewal options with a 10% rent increase every five years. This is a rare opportunity to acquire irreplaceable property. 7-Eleven is the world’s largest convenience store chain, operating, franchised and licensed approximately 64,319 stores in 18 countries. 7-Eleven is also one of the nation’s largest independent gasoline distributors and was ranked #1 in Entrepreneur Magazine’s 2017 annual “Franchise 500” ranking.

“Single tenant 7-Eleven properties continue to attract significant interest from private investors,” said Randy Blankstein, president of Boulder Group. John Feeney, Partner at Boulder Group, added, “Well-located assets in affluent markets rank first in the acquisition criteria of 1031 stock market investors.”

About the Boulder Group

Boulder Group is a boutique investment property services company specializing in single tenant net-lease properties. The Company offers a full range of brokerage, consulting and…