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Views: 85 Updated: 08.14.24 Posted: 06.07.24 Status: Inactive 10.01.24

Summary

Price $1,596,491
Built/Renov 2001
Tenant 7-Eleven (Stripes)
Cap Rate 5.70%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,240
Lease Start 07-01-2024
#Units 83,282
Price/SF $712.72
Expiration 06-30-2036
Tenant Type Convenience/Gas
NOI $91,000
R. Term 11.7
Ownership Fee Simple
Rent/SF $40.63
Increases 10.0%/2/yrs
Pop 5Mi 213,238
Lot/AC 0.19
Options 3/5yrs/10%
AHHI 5Mi $79,655

Lease Highlights

  • Brand-new 12 year lease with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located on South 23rd Street, with access to 23,000 vehicles passing by daily. The property is within proximity to Palms Crossing Shopping mall, a lifestyle center, which includes anchor well-known national tenants including Ross Dress for Less, Dave and Buster’s, and Hobby Lobby. The 5-mile trade area is supported by a population of 213,238 residents with an average...

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Maps

  • 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
2029 Total Population : 10,453 82,792 214,709
2024 Total Population : 10,655 82,304 211,876
2024 Employed Civilian Pop : 3,950 34,943 89,342
2024 Total Businesses : 1,070 4,883 10,049
2024 Average Household Income : $ 40,111 $ 74,246 $ 83,562
2024 Total Consumer Spending : $ 139 M $ 1964 M $ 5511 M
2024 Median Age : 40 37 36
2024 Total Households : 3,770 29,334 73,559
2024 Pop Age 25+: Bachelor's Degree : 938 11,678 32,069
2024 Average Home Value : $ 122,499 $ 208,216 $ 216,521
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jackson Ave Lindberg Cir 2014 2,079 0.05 mi
S 23rd St Ithaca Ave 2014 15,750 0.13 mi
Ithaca Ave S 25th St 2014 670 0.16 mi
S 23rd St Expy 83 2014 18,672 0.18 mi
W Houston Ave S 23rd St 2014 2,417 0.18 mi
Galveston Ave S 24th St 2014 3,148 0.21 mi
S 23rd St 2022 12,700 0.22 mi
I- 2 2022 110,423 0.24 mi
S 23rd St 2019 148,372 0.25 mi
West Expressway 83 S 26th St 2022 9,339 0.27 mi

Listing Broker

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