Just weeks after the first 7-Eleven in Madera, California opened its doors, it has sold to a new buyer for a record sum.
The 7-Eleven at 3720 Avenue 17 in Madera opened in late April, just across from an Arco gas station on Golden State Boulevard.
Now the property has sold for $12.18 million, the highest price ever for a single-tenant 7-Eleven sold in California history, according to Hanley Investment Group Real Estate Advisors.
Hanley represented the sellers, Stock Five Development Company out of Clovis, with San Diego’s Kidder Matthews representing the buyer, a private investor in the Bay Area.
The 7-Eleven was the first ever in Madera, with a 7-Eleven Facebook post on April 23 announcing that it was now open for business.
Hanley’s Sean Cox revealed he “identified a 1031 exchange buyer that was specifically seeking a single‑tenant 7‑Eleven and sourced this off‑market opportunity through a longstanding developer relationship.”
“This prototype is the first of its kind to sell in California as a single-tenant asset, which made the execution even more meaningful for all parties involved,” Cox added.
The location in Madera also comes with a commercial diesel fueling station, along with EV charging stations as well.
The 4,644 square foot store sits on a 4.04 acre lot, with Hanley’s Bill Asher adding, “This sale set a new benchmark for the 7‑Eleven brand in California.”
“The combination of a new 15‑year triple-net lease, expanded fueling program, and a prime location adjacent to State Route 99 and future home of North Fork Mono Casino, were highly attractive selling points for the buyer,” Asher added.
The location is also just across the street from the Madera Municipal Airport, and just south of the casino, which is slated to open this fall, according to its official website.
The sale comes after the project took four years to complete, which involved painstaking infrastructure work along with fuel design and a thorough environmental review.
The sale continues Hanley’s involvement in 7-Eleven sales, with recent transactions in Clovis, San Bernadino and Sacramento.
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[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
