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7-Eleven
2955 Oak Lake Blvd, Midlothian, VA 23112
$7,500,000
Cap Rate 5.00%
Summary
| Price $7,500,000 | Built/Renov 2023 | Tenant 7-Eleven |
| Cap Rate 5.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
4,730
| Lease Start
10-05-2023
| #Units
83,282
|
| Price/SF $1,585.62 | Expiration
10-04-2038
| Tenant Type Convenience/Gas |
| NOI $375,000 | R. Term 14.10 | Ownership Fee Simple |
| Rent/SF
$79.28
| Increases 10.0%/5/yrs | Pop 5Mi 131,607 |
| Lot/AC 2.44 | Options 4/5yrs/10% | AHHI 5Mi $112,872 |
| | |
Lease Highlights
- Brand new 2023 construction
- 7-Eleven recently signed a brand-new 15-year lease with 4 (5-year) options to extend
- Lease features a 10% rental increase every 5 year throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by Seven and I Holdings (OTCMKTS: SVNDY)
Location Description
This newly constructed 7-Eleven is strategically located at the signalized, hard corner intersection of Oak Lake Boulevard and Genito Road seeing a combined 14,000 vehicles per day. The subject property consists of a 4,730 square foot retail space, a single row canopy with six fueling stations, twelve pumps, and ample parking on a large 2.44-acre parcel. Neighboring national/credit tenants in...
...Features
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New construction
-
Relocation store
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Near major nationals
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Top 100 MSA
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Strong demographics
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Brand new lease
-
Long 15+ yr lease
-
Accelerated depreciation
-
Traded and rated company
-
Investment grade tenant
...
Maps
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 12,500...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 3,493 | 60,461 | 140,246 |
| 2023 Total Population : | 3,273 | 58,086 | 135,373 |
| 2023 Employed Civilian Pop : | 1,597 | 30,545 | 71,114 |
| 2023 Total Businesses : | 202 | 1,402 | 4,476 |
| 2023 Average Household Income : | $ 91,057 | $ 124,228 | $ 127,811 |
| 2023 Total Consumer Spending : | $ 92 M | $ 2373 M | $ 5570 M |
| 2023 Median Age : | 39 | 39 | 40 |
| 2023 Total Households : | 1,187 | 22,458 | 51,366 |
| 2023 Pop Age 25+: Bachelor's Degree : | 510 | 12,747 | 30,334 |
| 2023 Average Home Value : | $ 428,055 | $ 386,717 | $ 396,542 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Oak Lake Blvd | Oak Lake Trl | 2016 | 3,900 | 0.03 mi |
| Genito Road | Genito Rd | 2021 | 14,000 | 0.27 mi |
| Genito Road | S Ridge Dr | 2021 | 14,000 | 0.27 mi |
| S Ridge Dr | Duck River Rd | 2015 | 1,300 | 0.30 mi |
| South Ridge Drive | Duck River Rd | 2021 | 1,100 | 0.30 mi |
| South Ridge Drive | Beaver Point Dr | 2021 | 1,500 | 0.31 mi |
| South Ridge Circle | S Ridge Dr | 2021 | 100 | 0.33 mi |
| Duck River Road | Shiloh Church Rd | 2021 | 210 | 0.34 mi |
| Duck River Rd | Duck River Ct | 2009 | 280 | 0.35 mi |
| Duck River Court | Duck River Rd | 2021 | 320 | 0.36 mi |
