7-Eleven

Market Street & Birchwood Drive, Wilmington, NC 28405

$10,029,000

Cap Rate 5.15%

Views: 96 DOM: 223 Updated: 11.26.24 Posted: 04.24.24 Status: Active

Summary

Price $10,029,000	Built/Renov 2024	Tenant 7-Eleven
Cap Rate 5.15%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,650	Lease Start 05-01-2024	#Units 83,282
Price/SF $2,156.77	Expiration 04-30-2039	Tenant Type Convenience/Gas
NOI $516,475	R. Term 14.5	Ownership Fee Simple
Rent/SF $111.07	Increases 10.0%/5/yrs	Pop 5Mi 141,544
Lot/AC 2.50	Options 4/5yrs/10%	AHHI 5Mi $96,560

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Brand new 2024 construction
7-Eleven recently signed 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 option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located at a signalized, hard-corner intersection of Market Street and Birchwood Drive, a major thoroughfare, with access to a combined daily traffic count of 37,500 vehicles. The property is in the primary retail area, surrounded by well-known national tenants including Walmart, Target, Lowe’s, Costco, Sam’s Club, PetSmart, and more. The 5-mile trade area is...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Near major nationals
Strong demographics
Major MSA
Long 15+ yr lease
Accelerated depreciation
Traded and rated company
Investment grade tenant

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Wilmington, North Carolina Zip Code 28405 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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Listing Broker

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