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Views: 88 DOM: 86 Updated: 02.29.24 Posted: 09.27.23 Status: Sold 12.22.23

Summary

Price $7,727,000 $8,210,000
Built/Renov 2023
Tenant 7-Eleven
Cap Rate 5.05% 4.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,088
Lease Start 11-21-2023
#Units 83,282
Price/SF $1,890.17 $2,008.32
Expiration 11-30-2038
Tenant Type Convenience/Gas
NOI $390,000
R. Term 14.5
Ownership Fee Simple
Rent/SF $95.40
Increases 10.0%/5/yrs
Pop 5Mi 245,420
Lot/AC 1.25
Options 4/5yrs/10%
AHHI 5Mi $65,031

Lease Highlights

  • Brand new 2023 construction
  • 7-Eleven will execute a brand-new 15-year lease with 4 (5-year) options to extend
  • Lease features 10% increases every 5 years
  • Favorable NN+ lease with landlord responsibilities limited to roof & structure
  • Corporate guaranteed lease
  • 7-Eleven is an investment grade tenant (S&P: A)

Location Description

This newly constructed 7-Eleven is strategically positioned at the signalized intersection of W. Redlands Boulevard and Hunts Lane, which see a combined traffic count of 34,500 vehicles passing by daily. It is also visible and easily accessible from Interstate 10 (236,000 VPD) and near Interstate 215 (185,000 VPD). Nearby tenants include Aldi, Home Depot, PetSmart, Burger King, Carl’s Jr., and...

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Maps

  • 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 12,500...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,959 89,582 257,977
2023 Total Population : 6,889 88,892 253,101
2023 Employed Civilian Pop : 3,149 38,055 107,267
2023 Total Businesses : 1,000 4,865 9,350
2023 Average Household Income : $ 95,745 $ 84,702 $ 81,111
2023 Total Consumer Spending : $ 187 M $ 2135 M $ 5361 M
2023 Median Age : 34 33 31
2023 Total Households : 2,261 28,925 75,723
2023 Pop Age 25+: Bachelor's Degree : 894 8,982 20,075
2023 Average Home Value : $ 409,640 $ 445,967 $ 420,416
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
I 10 Fwy E S Hunts Ln 2004 14,720 0.04 mi
10 I 10 Ofrp W 2018 230,000 0.14 mi
S Hunts Ln E Cooley Dr 2003 11,963 0.27 mi
E Redlands Blvd Sunset Dr 2003 22,416 0.32 mi
10 2018 205,000 0.39 mi
I 10 2021 193,000 0.44 mi
S Waterman Ave E Redlands Blvd 2003 27,854 0.45 mi
E Hospitality Ln S Business Center Dr 2010 15,970 0.45 mi
S Waterman Ave E Hospitality Ln 2010 31,270 0.49 mi
S Waterman Ave E Hospitality Ln 2010 20,180 0.51 mi

Listing Broker

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