7-Eleven

12848 Martin Luther King Jr Way S, Seattle, WA 98178

$4,936,800

Cap Rate 5.00%

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DOM: 12 Updated: 09.02.25 Posted: 09.02.25 Status: Active 09.02.25

Summary

Price $4,936,800	Built/Renov 1982	Tenant 7-Eleven
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,428	Lease Start 01-04-2021	#Units 83,282
Price/SF $2,033.28	Expiration 01-31-2036	Tenant Type Convenience/Gas
NOI $246,840	R. Term 10.50	Ownership Fee Simple
Rent/SF $101.66	Increases 10.0%/6/yrs	Pop 5Mi 308,343
Lot/AC 0.47	Options 5/5yrs/7.5%	AHHI 5Mi $140,530

Highlights

Absolute NNN lease with ±10.5 years remaining, 10% rent increase in 2031, and five renewal options
Rent increases 7.5% in first three options, with rent set to FMRV in fourth and fifth options
7-Eleven, Inc. operates 85,000+ stores globally, the world’s largest convenience store operator, franchisor, and licensor
Located less than 10 miles from downtown Seattle at Martin Luther King Jr. Way South and South 129th Street
Feet from I-5 on-ramp (193,114 VPD), connecting Seattle, Tacoma, and Everett through the region’s main transportation corridor
Proximate to major shopping centers including Westfield Southcenter, Southcenter Plaza, The Landing, and Southcenter Square
Within Rainier Beach neighborhood, serving 37,091 residents with $119,550 average income and nearly 4,800 households within one mile

Location Description

7-Eleven is strategically located along Martin Luther King Jr. Way South in Seattle, Washington, with access to a daily traffic count of approximately 31,583 vehicles and immediate proximity to Interstate 5 (193,114 VPD). The site is surrounded by major national retailers including Walmart Supercenter, Lowe’s Home Improvement, etc, driving consistent consumer traffic to the area. The property...

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Key Features

Signalized intersection
Hard corner intersection
Major thoroughfare
Near major nationals
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Seattle, WA Zip Code 98178 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: 7-Eleven
Guarantor:Corp T and Rated
Company:Seven & I Holdings Co., Ltd
# 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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Listing Broker

Brian Pfohl

CBRE: NLPG Atlanta

Contact

155 Listings
37022 Views
79 Sold

Chris Bosworth

CBRE: NLPG Atlanta

Contact

157 Listings
37578 Views
82 Sold

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Thomas Carr

CBRE: NLPG Atlanta

Contact

139 Listings
37910 Views
81 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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