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Views: 145 DOM: 393 Updated: 08.06.24 Posted: 10.18.23 Status: Active 04.18.24

Summary

Price $8,906,000
Built/Renov 2009/2022
Tenant 7-Eleven
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,700
Lease Start 08-01-2021
#Units 5
Price/SF $1,894.89
Expiration 08-01-2036
Tenant Type Convenience/Gas
NOI $565,516
R. Term 11.8
Ownership Fee Simple
Rent/SF $120.32
Increases 7.5%/3/yrs
Pop 5Mi 18,607
Lot/AC 2.80
Options 3/5yrs/4%
AHHI 5Mi $70,297

Lease Highlights

  • Recently renovated 2022
  • 7-Eleven has 12+ years remaining on its current term with 3 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the initial term, and 4% increases during extension terms
  • Landlord’s insurance and real estate taxes are reimbursed by tenant
  • Personal guarantee from a multi-unit franchisee operator
  • 7-Eleven is an investment grade tenant (S&P: A)

Location Description

7-Eleven is strategically situated along South Jackson Street, an arterial thoroughfare that sees a daily traffic count of 22,800 vehicles. Furthermore, the subject property benefits from nearby access to U.S. Highway 79 (11,600 VPD), making this an ideal, centralized location with easy commutes. Located within a dense retail corridor, the property is within close proximity of multiple...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: 7-Eleven
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:5
  • 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,340 13,206 18,531
2023 Total Population : 1,351 13,505 18,800
2023 Employed Civilian Pop : 516 5,075 7,427
2023 Total Businesses : 123 761 872
2023 Average Household Income : $ 61,008 $ 68,490 $ 69,751
2023 Total Consumer Spending : $ 31 M $ 294 M $ 420 M
2023 Median Age : 28 34 36
2023 Total Households : 592 4,905 6,861
2023 Pop Age 25+: Bachelor's Degree : 116 1,376 1,793
2023 Average Home Value : $ 350,000 $ 208,561 $ 207,440
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Broiles St 2021 3,876 0.33 mi
TX 45;RM 620 S Jackson St 2020 3,667 0.33 mi
Beaumont St Andrews St 2013 1,750 0.77 mi
Corinth Road Mary Jane St 2021 499 0.84 mi
I 20-N Business FM 347 2020 2,160 0.86 mi
Ivey Ave Odom St 2013 131 0.89 mi
South Jackson Street E Rusk St 2021 18,752 0.94 mi
South Jackson Street Kelly St 2020 18,322 0.94 mi
FM 768 Corinth Rd 2021 427 1.02 mi
Marshall St Howard St 2013 188 1.06 mi

Listing Broker

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