Logan Central 7-Eleven service station sells for $3.475 million
A 7-Eleven service station in Queensland's growth corridor belt of Logan Central, has been purchased by a private investor for $3.475 million.
The 120 Wembley Road property comprises a 7-Eleven' Service Station, branded 'Caltex Woolworths' which was sold with 15 years remaining on the lease and a further 2 x 5 year option period.
The sale price reflected an initial yield of 7.14% or rate of $2,850 per square metre. APN Funds Management was the vendor.
The service station occupies a site area of 1,219 square metres and produces a net income of $248,380 annually.
The selling agents were Mike Walsh and Sam Hatcher of Jones Lang LaSalle.