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Views: 71 DOM: 226 Updated: 03.26.24 Posted: 10.30.23 Status: Contract

Summary

Price $1,748,000
Built/Renov 1976
Tenant 7-Eleven
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,400
Lease Start 04-06-2021
#Units 1
Price/SF $728.33
Expiration 04-06-2036
Tenant Type Convenience/Gas
NOI $100,530
R. Term 11.10
Ownership Fee Simple
Rent/SF $41.89
Increases 7.5%/3/yrs
Pop 5Mi 3,441
Lot/AC 0.21
Options 3/5yrs/4%
AHHI 5Mi $101,055

Lease Highlights

  • 7-Eleven has 12+ years remaining on its current term with 3 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the initial term, and 4% increases during extension terms
  • Absolute NNN | Zero landlord responsibilities
  • Personal guarantee from a multi-unit franchisee operator
  • 7-Eleven is an investment grade tenant (S&P: A)

Location Description

7-Eleven is ideally situated along East Agate Avenue, an arterial thoroughfare that serves over 9,400 vehicles per day. Furthermore, the site benefits from nearby access to U.S. Highway 40 (11,700 VPD), making this a centralized location with easy commutes. The asset is within close proximity to multiple national/credit tenants including Dollar General, Ace Hardware, US Bank, O’Reily Auto...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: 7-Eleven
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:1
  • Tenant S&P: A
  • Moody’s: Baa2
  • Stock: OTCMKTS: SVNDY

About Tenant

7-Eleven is the world's largest operator, franchisor, and licensor of convenience stores. It operates, franchises and/or licenses more than 83,000 stores in 19 countries, including over 12,500...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,804 2,715 3,436
2023 Total Population : 1,804 2,716 3,441
2023 Employed Civilian Pop : 1,076 1,637 2,108
2023 Total Businesses : 190 271 289
2023 Average Household Income : $ 105,006 $ 102,795 $ 101,055
2023 Total Consumer Spending : $ 65 M $ 99 M $ 123 M
2023 Median Age : 43 43 44
2023 Total Households : 722 1,118 1,418
2023 Pop Age 25+: Bachelor's Degree : 339 554 775
2023 Average Home Value : $ 476,120 $ 482,722 $ 496,869
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 40 Co Rd 574 2021 11,695 0.12 mi
East Agate Avenue 2nd St 2020 8,500 0.24 mi
E Agate Ave 1st St 2006 9,300 0.33 mi
West Agate Avenue Mesa St 2021 9,401 0.51 mi
US Hwy 40 Hwy 34 2006 6,900 1.27 mi
US 34 Co Rd 404 2021 6,924 1.32 mi
US Hwy 34 Granby West Cir 2006 4,200 1.34 mi
US 40 US Hwy 34 2021 4,208 1.52 mi
US 40 2020 3,800 2.22 mi
US Hwy 40 Hwy 125 2006 4,500 2.36 mi

Listing Broker

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