Stripes by 7-Eleven

2416 South McColl Road, McAllen, TX 78503

$5,385,000

Cap Rate 5.33%

$5,569,000

Cap Rate 5.15%

DOM: 120 Updated: 01.02.24 Posted: 08.29.23 Status: Sold 12.27.23

Summary

Price $5,385,000 $5,569,000	Built/Renov 2023	Tenant Stripes by 7-Eleven
Cap Rate 5.33% 5.15%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,650	Lease Start 12-01-2023	#Units 83,282
Price/SF $1,158.06 $1,197.63	Expiration 11-30-2038	Tenant Type Convenience/Gas
NOI $286,803	R. Term 13.6	Ownership Fee Simple
Rent/SF $61.68	Increases 7.5%/5/yrs	Pop 5Mi 212,710
Lot/AC 1.79	Options 5/5yrs/7.5%	AHHI 5Mi $62,053

Lease Highlights

Brand new 2023 construction
7-Eleven recently executed a new 15-year lease with 5 (5-year) options to extend
Lease features 7.5% rental increases every 5 years
Absolute NNN lease | Zero landlord responsibilities
Property qualifies for 80 percent year one bonus depreciation or 15-year accelerated depreciation per IRS 1250 Property Designation
Corporate Guaranteed lease

Location Description

This newly constructed 7-Eleven is strategically located at the signalized, hard corner intersection of South McColl Road and Eyuma Ave with a combined traffic count of 32,863 vehicles passing by daily. The site features a Stripes convenience store that includes Laredo Taco. Additionally, there are 8 fueling stations and 4 pumps. The location offers convenience and accessibility, being only 2...

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Key Features

New construction
Signalized intersection
Dense 200M+ pop 5 mi
New development zone
Income tax free state
Brand new lease
Absolute NNN
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia McAllen, Texas Zip Code 78503 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Stripes by 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,087	71,477	212,740
2023 Total Population :	9,068	70,583	208,852
2023 Employed Civilian Pop :	4,439	28,265	84,614
2023 Total Businesses :	501	4,276	8,994
2023 Average Household Income :	$ 87,569	$ 59,802	$ 67,867
2023 Total Consumer Spending :	$ 245 M	$ 1282 M	$ 4126 M
2023 Median Age :	38	35	32
2023 Total Households :	3,267	24,168	68,714
2023 Pop Age 25+: Bachelor's Degree :	1,996	8,197	24,234
2023 Average Home Value :	$ 295,640	$ 159,502	$ 165,100

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South McColl Road	E Ridge Rd	2020	16,844	0.41 mi
South McColl Road	E el Rancho Rd	2021	17,278	0.41 mi
East Ridge Road	S D St	2020	18,561	0.48 mi
East Ridge Road	S McColl Rd	2021	17,438	0.48 mi
E el Rancho Rd	S McColl Rd	2014	8,852	0.54 mi
South Jackson Road		2019	25,491	0.57 mi
S Jackson Rd	Gran Via St	2014	25,694	0.57 mi
S 2nd St	Savannah Ave	2014	16,037	0.60 mi
E Savannah Ave	Savannah Ave	2014	10,750	0.60 mi
W Moore Rd	S Jackson Rd	2014	4,338	0.63 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
34049 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
34160 Views
128 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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