A newly opened 7-Eleven in California has sold for a record-breaking $12.8 million, despite being located in what many describe as the “middle of nowhere.”
Gas stations and franchise restaurants have become increasingly popular investments across the United States. Streamer Amouranth has already spent millions buying similar businesses in Texas, including one deal reportedly worth $10 million.
Now, a brand-new 7-Eleven in California has joined the trend after selling for nearly $13 million just weeks after opening in late April.
According to the New York Post, the deal marks the highest sale price ever recorded for a single-tenant 7-Eleven property in California history. The surprising part is the location, with the outlet described as being in the “middle of nowhere” and sitting directly across from competing gas stations.
The store is located at 3720 Avenue 17 in Madera, California, directly opposite an Arco gas station, with a Love’s Travel Stop also nearby.
A quick look at Google Maps shows the property sits beside Madera Municipal Airport. However, the airport is relatively small, mainly serving light aircraft with very limited daily traffic. FlightRadar data reportedly shows only a couple of flights per day operating there.
Despite the isolated location, the Post noted that investors still consider the property highly attractive because it sits near a highway exit and close to the future North Fork Mono Casino development, which is currently under construction.
It’s also not the only major gas station investment happening in California. Costco is preparing to open a massive standalone gas station in June, separate from its traditional warehouse locations.