7-Eleven

190 First Avenue, Atlantic Highlands, NJ 07716

$2,095,000

Cap Rate 5.25%

Views: 148 DOM: 309 Updated: 10.25.24 Posted: 01.19.24 Status: Active

Summary

Price $2,095,000	Built/Renov 2021	Tenant 7-Eleven
Cap Rate 5.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 3,000	Lease Start 02-01-2022	#Units 83,282
Price/SF $698.33	Expiration 01-31-2032	Tenant Type Convenience/Gas
NOI $110,000	R. Term 7.2	Ownership Fee Simple
Rent/SF $36.67	Increases 8.0%/5/yrs	Pop 5Mi 87,375
Lot/AC 0.34	Options 3/5yrs/8%	AHHI 5Mi $172,584

Michael Lombardi

Horvath & Tremblay: NJ

Contact

Lease Highlights

7-Eleven has 7+ years remaining on the current lease term with 3 (5-year) options to extend
Lease features 8% rental increases every 5 years throughout the initial term and at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

7-Eleven is strategically located at the signalized, hard corner intersection of First Avenue and Memorial Drive/NJ Route 36, with a combined daily traffic count of 26,300 vehicles. Situated directly across from the Bayshore Shopping Plaza, a grocery-anchored center, the property enjoys exceptional visibility with frontage and access on both roadways. NJ Route 36 functions as the primary...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Affluent AHHI $100K 5 Mi
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

7-Eleven Wikipedia 7-Eleven Wikipedia Atlantic Highlands, New Jersey Zip Code 07716 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 :	7,368	26,527	86,062
2023 Total Population :	7,514	26,972	87,075
2023 Employed Civilian Pop :	3,971	14,618	45,759
2023 Total Businesses :	388	865	3,820
2023 Average Household Income :	$ 171,682	$ 166,761	$ 182,792
2023 Total Consumer Spending :	$ 452 M	$ 1549 M	$ 5174 M
2023 Median Age :	46	45	44
2023 Total Households :	3,148	11,099	33,838
2023 Pop Age 25+: Bachelor's Degree :	1,951	6,653	21,430
2023 Average Home Value :	$ 688,602	$ 641,496	$ 701,608

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
1st Avenue	W Garfield Ave	2018	1,181	0.03 mi
1st Ave	W Lincoln Ave	2012	5,868	0.08 mi
1st Avenue	E Lincoln Ave	2017	1,297	0.11 mi
Leonardville Road	Fairfield Ave	2019	4,699	0.38 mi
Leonardville Rd	Fairfield Ave	2013	10,559	0.39 mi
1st Avenue		2019	4,416	0.43 mi
Simon Lake Drive	Harbor Access Rd	2017	1,733	0.53 mi
Memorial Pky	Navesink Ave	2006	15,875	0.55 mi
1st Avenue	Sutton Walk	2018	1,721	0.56 mi
Beacon Hill Road	Desoto Ave	2018	4,581	0.62 mi

Listing Broker

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