7-Eleven

212 Lake Street, Salisbury, MD 21801

$6,480,940

Cap Rate 5.00%

Views: 53 DOM: 113 Updated: 04.28.24 Posted: 01.25.24 Status: Active

Summary

Price $6,480,940	Built/Renov 2023	Tenant 7-Eleven
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 5,000	Lease Start 12-01-2023	#Units 83,282
Price/SF $1,296.19	Expiration 12-01-2038	Tenant Type Convenience/Gas
NOI $324,047	R. Term 14.6	Ownership Fee Simple
Rent/SF $64.81	Increases 10.0%/4/yrs	Pop 5Mi 76,092
Lot/AC 1.88	Options 4/5yrs/10%	AHHI 5Mi $56,554

Brendan Eisenbrandt

PennTex Ventures

Contact

Lease Highlights

Brand new 2023 construction
7-Eleven recently executed a brand 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 each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

This newly constructed 7-Eleven, equipped with gas, a car wash, and a Roost Chicken is strategically located on Lake St. which sees 26,151+ vehicles passing by daily. It is in close proximity to Salisbury University (8,748+ students), several public schools, Wicomico Civic Center and the Salisbury Zoo, all of which provide a strong consumer base for the site. 76,092 people, earning an average...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Major MSA
Long 10+ yr lease
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Salisbury, Maryland Zip Code 21804 Broker Site Page

Maps

Local Information

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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	12,249	53,790	78,574
2023 Total Population :	11,645	52,805	76,822
2023 Employed Civilian Pop :	5,142	25,988	38,423
2023 Total Businesses :	1,020	2,573	3,402
2023 Average Household Income :	$ 61,305	$ 74,724	$ 84,353
2023 Total Consumer Spending :	$ 245 M	$ 1308 M	$ 2158 M
2023 Median Age :	33	34	36
2023 Total Households :	4,541	20,098	29,527
2023 Pop Age 25+: Bachelor's Degree :	1,122	5,787	9,520
2023 Average Home Value :	$ 253,002	$ 355,828	$ 335,506

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Main Street		2017	11,971	0.09 mi
W Main St		2020	8,991	0.12 mi
W Main St	Fitzwater St	2018	11,862	0.13 mi
High St	W Salisbury Pkwy	2003	725	0.16 mi
Mill Street	W Salisbury Pkwy	2020	1,071	0.17 mi
Church Street	Saint Peters St	2020	341	0.18 mi
Riverside Drive	Mill St	2018	10,881	0.21 mi
West Salisbury Parkway		2017	25,460	0.21 mi
W Main St		2020	8,991	0.25 mi
Circle Avenue	S Division St	2020	1,901	0.26 mi

Listing Broker

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