CBRE Arranges Record-Setting Sale of 7-Eleven in Flagstaff, Arizona

CBRE has announced the $8.43 million ground-lease sale of a single-tenant 7-Eleven property located at 1010 North Country Club Drive in Flagstaff, Ariz.

CBRE’s Ben Farthing and Owen Littrell represented two private capital investors based in Tucson on the transaction. Viking Properties VII, LLC, a California-based farming family, acquired the property in an all-cash transaction.

"This was an exceptional sale, driven by robust demand for high-quality, net-lease retail assets in prime locations," said Farthing, senior vice president at CBRE. "The 4.80% cap rate is particularly noteworthy, representing the lowest cap rate for a 7-Eleven to trade in Arizona this year. This outcome reflects the strength of CBRE’s national platform, our team’s strategic marketing approach, and the property’s compelling fundamentals.”

The property features an absolute triple-net lease with 12 years remaining. Situated just south of Interstate 40, the site includes 12 fueling stations and a car wash, drawing consistent traffic from both residents and interstate travelers.

"The buyer was attracted to the accelerated depreciation benefits available on fuel station assets, allowing investors to depreciate eligible improvements in year one fully,” added Farthing.