7-Eleven

5620 N Rainbow Blvd, Las Vegas, NV 89130

$3,650,000

Cap Rate 4.79%

$3,684,000

Cap Rate 4.75%

DOM: 589 Updated: 07.24.24 Posted: 09.26.22 Status: Sold 05.07.24

Summary

Price $3,650,000 $3,684,000	Built/Renov 2023	Tenant 7-Eleven
Cap Rate 4.79% 4.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,993	Lease Start 05-01-2023	#Units 83,282
Price/SF $1,219.51 $1,230.87	Expiration 04-30-2038	Tenant Type Convenience/Gas
NOI $175,000	R. Term 12.11	Ownership Fee Simple
Rent/SF $58.47	Increases 10.0%/5/yrs	Pop 5Mi 375,475
Lot/AC 0.82	Options 4/5yrs/10%	AHHI 5Mi $92,895

Patrick Luther

SRS National Net Lease Group

Contact

Lease Highlights

Brand-new construction; Grand opening in Q2 2023
The tenant, 7-Eleven, Inc., recently signed a new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
The lease is corporate guaranteed by 7-Eleven, Inc. (S&P: A)

Location Description

7-Eleven is located at the signalized, hard corner intersection of W. Ann Road and N. Rainbow Boulevard, averaging a combined (42,500 VPD). The property is situated near the directional interchange of U.S. Highway 95 (135,000 VPD) and W. Ann Road (35,300 VPD). Additionally, the site is located within proximity to major retail centers such as Rio Vista Plaza (118,135 SF), Centennial Gateway...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Dense retail corridor
Top 100 MSA
Income tax free state
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Las Vegas, Nevada Zip Code 89130 Broker Site Page

Maps

Local Information

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
2027 Total Population :	12,632	126,286	390,480
2022 Total Population :	12,435	123,437	382,927
2022 Employed Civilian Pop :	5,797	59,666	181,563
2022 Total Businesses :	333	2,802	7,426
2022 Average Household Income :	$ 113,678	$ 114,093	$ 106,675
2022 Total Consumer Spending :	$ 428 M	$ 4421 M	$ 12528 M
2022 Median Age :	41	40	37
2022 Total Households :	4,436	45,508	137,362
2022 Pop Age 25+: Bachelor's Degree :	1,438	15,849	48,847
2022 Average Home Value :	$ 406,239	$ 400,508	$ 388,263

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Ann Rd	Gilbert Ln	2016	26,088	0.05 mi
W Ann Rd	Cactus Holly Ln	2011	25,800	0.07 mi
N Rainbow Blvd	W el Campo Grande Ave	2016	5,775	0.11 mi
North Rainbow Boulevard	W el Campo Grande Ave	2018	2,336	0.17 mi
N Rainbow Blvd	Sea Poppy Ln	2017	7,200	0.20 mi
North Rainbow Boulevard	W el Campo Grande Ave	2018	3,200	0.21 mi
W Ann Rd	Rio Vista St	2016	35,331	0.26 mi
N Rainbow Blvd	Hammer Ln	2002	4,800	0.26 mi
North Rainbow Boulevard	W el Campo Grande Ave	2019	3,550	0.28 mi
Rio Vista St	W Ann Rd	2001	3,412	0.28 mi

Listing Broker

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