7-Eleven

226 Lake Street, Salisbury, MD 21801

$6,480,940

Cap Rate 5.00%

Views: 139 DOM: 331 Updated: 10.17.24 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 02-01-2024	#Units 83,282
Price/SF $1,296.19	Expiration 02-28-2042	Tenant Type Convenience/Gas
NOI $324,047	R. Term 17.2	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 construction with accelerated depreciation benefits
Rare 18-year Absolute NNN lease
10% rental increases every 5 yeras
Site includes gas & car wash
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
Brand new lease
Long 15+ 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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Listing Broker

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