7-Eleven in Newport Beach Sells for Record Price Point
A 7-Eleven on Newport Beach’s Balboa Peninsula has traded for one of the highest price points in the country this year for the convenience store chain, underscoring investor appetite for irreplaceable coastal real estate.
SRS Real Estate Partners arranged the $5.24 million sale of the single-tenant net lease property, a 3,651-square-foot store at 1920 W. Balboa Boulevard. The closing marks the highest price and second-highest price per square foot for a 7-Eleven nationally in 2025.
The property, built in 1975, has been home to 7-Eleven for more than 48 years. SRS Capital Markets Vice President Kevin Held represented the seller, a California-based family trust, in the deal. The buyer was a private investor from California.
“Most sales are mom-and-pop retail, or user sales,” Held told GlobeSt.com. “This was extremely rare, especially for a national credit tenant like 7-Eleven.”
Held said that after a pricing adjustment, demand for the offering was swift, resulting in multiple competitive bids. The buyer was ultimately selected from among four other offers.
“What this shows is when a triple-net leased asset with a national tenant in a prime location is priced right, the market has strong demand,” he told GlobeSt.com. “The key in the current market is pricing; the demand is there at market cap rates. This will provide a stable, passive, cash-flowing income for the new ownership.”
Source: GlobeSt/ALM