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Updated: 05.21.24 Posted: 03.16.23 Status: Sold

Summary

Price $3,300,000 $3,430,000
Built/Renov 2013
Tenant 7-Eleven
Cap Rate 5.04% 4.85%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,440
Lease Start 02-01-2013
#Units 83,282
Price/SF $959.30 $997.09
Expiration 01-31-2028
Tenant Type Convenience/Gas
NOI $166,375
R. Term 2.8
Ownership Fee Simple
Rent/SF $48.36
Increases 10.0%/5/yrs
Pop 5Mi 237,875
Lot/AC 1.58
Options 3/5yrs/10%
AHHI 5Mi $101,797

Lease Highlights

  • 7-Eleven has been operating in this location since 2013
  • The tenant has 4+ years remaining on its current lease with with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at each option period
  • Absolute NNN with zero landlord responsibilities
  • Corporate lease guaranteed by Seven and I Holdings (OTCMKTS: SVNDY)
  • 7-Eleven is an investment grade tenant (S&P: A)

Location Description

This 7-Eleven convenience and service station is strategically located along East Howard lane with access to over 16,300 vehicles per day. The site profits from nearby direct on/off ramp access to Interstate 35, a major retail and commuter thoroughfare averaging 40,200 vehicles per day. The subject property consists of a 3,400 square foot retail space, a single row canopy with six fueling...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: 7-Eleven
  • Guarantor:Corp T and Rated
  • Company:Seven and I Holdings
  • # Units:83,282
  • 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 19,529 110,261 262,108
2023 Total Population : 16,449 93,411 240,892
2023 Employed Civilian Pop : 9,558 54,195 139,153
2023 Total Businesses : 253 1,799 6,926
2023 Average Household Income : $ 93,869 $ 102,646 $ 100,991
2023 Total Consumer Spending : $ 432 M $ 3216 M $ 8434 M
2023 Median Age : 33 34 34
2023 Total Households : 5,315 36,181 95,990
2023 Pop Age 25+: Bachelor's Degree : 2,856 17,012 48,044
2023 Average Home Value : $ 276,793 $ 383,565 $ 394,730
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Howard Ln Dessau Rd 2015 21,600 0.06 mi
Dessau Road Bradbury Ln 2021 26,900 0.08 mi
E Howard Ln Dessau Rd 2015 16,637 0.09 mi
Dessau Rd E Howard Ln 2015 24,022 0.10 mi
Dessau Rd Gregg Ln 2010 23,430 0.12 mi
Dessau Road E Howard Ln 2020 30,093 0.13 mi
East Howard Lane Gregg Ln 2020 11,428 0.13 mi
East Howard Lane Dessau Rd 2021 15,097 0.13 mi
Dessau Rd Fish Ln 2002 21,960 0.14 mi
Fish Ln Harrisglenn Dr 2002 13,620 0.19 mi

Listing Broker

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