The Background

We sold a single-tenant 7-Eleven net lease in Merced, California for $1,900,000 at a 6.0% cap rate, with Erick Vaysman representing the buyer. The catch was a short-term lease, one of the most common friction points in net lease, and the deal still closed in 45 days at above-ask pricing.

The Problem We Had to Solve

Short-term lease exposure shrinks the buyer pool fast. Investors using agency debt run into lender resistance, and yield buyers want a cap rate concession to cover rollover risk. The seller was approaching retirement and wanted to transition out of active ownership, which meant maximizing proceeds and moving efficiently. A drawn-out process or a retraded offer was not on the table.

What We Did

We skipped the broad market and went straight to our buyer network. A New York-based investor we had already closed with was actively deploying capital into single-tenant convenience assets on the West Coast. Because the relationship was already there, the underwriting assumptions and the buyer’s ability to execute were known quantities. We put the short-term lease on the table in the first conversations, so the buyer underwrote the risk accurately from day one and committed with conviction. We agreed to a 45-day close at contract and held it.

How It Closed

The 7-Eleven closed at $1,900,000 at a 6.0% cap rate in 45 days, with no retrades and no slippage. The seller stepped out of a management-heavy asset and toward the passive retirement income they were after. The buyer added a stabilized California 7-Eleven to a growing single-tenant portfolio.

The Silber Difference

A maintained buyer network changes what a short-term lease means. With the right relationship already in place, the lease term becomes a number to underwrite honestly rather than an obstacle that kills the deal. That is what let us turn a property a lot of buyers would have passed on into a 45-day, above-ask close.

Handled by Erick Vaysman (buyer), Silber Investment Properties.