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Views: 44 DOM: 35 Updated: 06.18.24 Posted: 06.07.24 Status: Active

Summary

Price $1,733,333
Built/Renov 2001
Tenant 7-Eleven (Stripes)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,240
Lease Start 07-01-2024
#Units 83,282
Price/SF $773.81
Expiration 06-30-2036
Tenant Type Convenience/Gas
NOI $91,000
R. Term 11.11
Ownership Fee Simple
Rent/SF $40.63
Increases 10.0%/2/yrs
Pop 5Mi 213,238
Lot/AC 0.19
Options 3/5yrs/10%
AHHI 5Mi $79,655

Lease Highlights

  • Brand-new 12 year lease with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located on South 23rd Street, with access to 23,000 vehicles passing by daily. The property is within proximity to Palms Crossing Shopping mall, a lifestyle center, which includes anchor well-known national tenants including Ross Dress for Less, Dave and Buster’s, and Hobby Lobby. The 5-mile trade area is supported by a population of 213,238 residents with an average...

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Maps

  • 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

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