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Views: 133 DOM: 387 Updated: 09.12.24 Posted: 10.31.23 Status: Active

Summary

Price $1,455,000
Built/Renov 1900/1981
Tenant 7-Eleven
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,115
Lease Start 05-26-2021
#Units 83,282
Price/SF $687.94
Expiration 05-26-2036
Tenant Type Convenience/Gas
NOI $80,004
R. Term 11.6
Ownership Fee Simple
Rent/SF $37.83
Increases 7.5%/2/yrs
Pop 5Mi 5,647
Lot/AC 0.32
Options 3/5yrs/7.5%
AHHI 5Mi $104,619

Lease Highlights

  • 7-Eleven has 12+ years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 7.50% rental increases every 5 years throughout the initial term and options
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

7-Eleven is strategically located along South Main Street with clear visibility and access to an average of 9,600 vehicles passing by daily. The asset benefits from nearby access onto State Highway 4 (8,200 VPD), providing efficient commutes for employees and customers. The tenants in the trade area include US Bank, Dollar General, O’Reilly Auto Parts, Save Mart, McDonald’s, CVS Pharmacy, and...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,083 4,195 5,617
2023 Total Population : 3,099 4,211 5,647
2023 Employed Civilian Pop : 1,168 1,639 2,272
2023 Total Businesses : 183 283 339
2023 Average Household Income : $ 96,339 $ 100,921 $ 104,619
2023 Total Consumer Spending : $ 122 M $ 165 M $ 223 M
2023 Median Age : 53 52 52
2023 Total Households : 1,435 1,853 2,432
2023 Pop Age 25+: Bachelor's Degree : 444 634 860
2023 Average Home Value : $ 528,050 $ 538,451 $ 553,331
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
49 Lee Ln 2018 5,800 0.38 mi
Murphys Grade Rd Gardner Ln 2009 4,956 0.44 mi
Demarest Street S Main St 2021 5,725 0.48 mi
S Main St Stockton Rd 2015 5,650 0.55 mi
S Main St Birds Way 2015 6,000 0.60 mi
Stockton Rd Peri St 2003 4,600 0.62 mi
State Rte 4 Tryon Rd 2010 5,800 0.64 mi
49 2018 6,000 0.66 mi
South Main Street Finnegan Ln 2021 7,650 0.66 mi
S Main St N Main St 2015 9,600 0.74 mi

Listing Broker

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