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Views: 33 DOM: 51 Updated: 04.26.24 Posted: 04.06.24 Status: Active

Summary

Price $1,642,000
Built/Renov 2023
Tenant 7 Brew Coffee (GL)
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 510
Lease Start 07-01-2024
#Units 6
Price/SF $3,219.61
Expiration 06-30-2039
Tenant Type Fast Food/QSR
NOI $98,500
R. Term 15.1
Ownership Ground Lease
Rent/SF $193.14
Increases 10.0%/5/yrs
Pop 5Mi 121,137
Lot/AC 0.51
Options 4/5yrs/10%
AHHI 5Mi $108,662

Lease Highlights

  • Brand-new 2023 construction
  • 7 Brew Coffee will be executing a brand-new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by 7Crew Enterprises, LLC

Location Description

7 Brew Coffee strategically located at the signalized, hard corner intersection of 42nd Street and Grandview Avenue, with access to a combined daily traffic count of 72,000 vehicles. The property is conveniently situated within walking distance of Permian High School, which boasts an enrollment of 3,621 students, and is just one mile away from The University of Texas Permian Basin....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

7 Brew Coffee is an American drive-thru coffee chain that focuses on bringing high-quality, locally roasted, and fresh coffee beans to the market. The Arkansas-based coffee stands have a retro...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 15,468 70,906 131,044
2023 Total Population : 14,847 69,022 127,466
2023 Employed Civilian Pop : 7,859 35,684 63,662
2023 Total Businesses : 614 2,924 4,872
2023 Average Household Income : $ 83,376 $ 80,370 $ 82,120
2023 Total Consumer Spending : $ 407 M $ 1803 M $ 3301 M
2023 Median Age : 36 34 34
2023 Total Households : 5,644 25,728 46,055
2023 Pop Age 25+: Bachelor's Degree : 1,629 7,216 12,210
2023 Average Home Value : $ 276,531 $ 243,164 $ 268,620
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Grandview Avenue E 37th St 2022 22,404 0.03 mi
E 42nd St N Grandview Ave 2016 59,024 0.11 mi
E 42nd St Redbud Ave 2016 56,320 0.13 mi
N Grandview Ave Penbrook St 2016 29,158 0.17 mi
East 42nd Street (Chris Kyle Memorial Highway) Englewood Ln 2020 37,350 0.19 mi
East 42nd Street Englewood Ln 2022 37,720 0.19 mi
E 42nd St Englewood Ln 2016 40,033 0.19 mi
Englewood Ln Englewood Cir 2016 2,673 0.21 mi
E Everglade Ave N Grandview Ave 2012 1,130 0.24 mi
Bonham Ave E 37th St 2012 3,030 0.25 mi

Listing Broker

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