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Views: 63 DOM: 77 Updated: 10.25.24 Posted: 10.05.24 Status: Active

Summary

Price $5,447,000
Built/Renov 2022
Tenant 7-Eleven
Cap Rate 5.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,650
Lease Start 11-10-2022
#Units 83,282
Price/SF $1,171.40
Expiration 11-30-2037
Tenant Type Convenience/Gas
NOI $280,500
R. Term 12.11
Ownership Fee Simple
Rent/SF $60.32
Increases 7.5%/3/yrs
Pop 5Mi 44,667
Lot/AC 1.35
Options 5/5yrs/7.5%
AHHI 5Mi $139,787

Lease Highlights

  • New 2022 construction
  • 7-Eleven has 13 years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years in primary term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located at the hard corner intersection of Highway 288 and Meridiana Parkway, with access to a robust combined daily traffic count of 57,379 vehicles. This large-format 7-Eleven sits on a 1.35-acre parcel and features a Laredo Taco, along with 32 parking spaces and 6 MPDs. Additionally, TX-288 is a major north-south highway in Houston that connects downtown with...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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