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Views: 197 DOM: 672 Updated: 10.21.24 Posted: 01.18.23 Status: Active

Summary

Price $9,058,757
Built/Renov 2020
Tenant 7-Eleven
Cap Rate 4.43%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,739
Lease Start 07-01-2022
#Units 83,282
Price/SF $1,911.53
Expiration 06-30-2035
Tenant Type Convenience/Gas
NOI $400,850
R. Term 10.7
Ownership Fee Simple
Rent/SF $84.59
Increases 10.0%/5/yrs
Pop 5Mi 73,802
Lot/AC 2.07
Options 4/5yrs/10%
AHHI 5Mi $158,460

Lease Highlights

  • New construction 2020
  • New 13-year lease with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years
  • Investor may be eligible for 100% bonus depreciation
  • Property features 7-Eleven’s restaurant component, Laredo Taco
  • Corporate guarantee | Investment grade tenant

Location Description

This 7-Eleven with Laredo Taco is located at the hard corner intersection of Jarvis Rd. and Telege Rd. which see a combined traffic count of roughly 22,900 VPD. It is also located at the entrance of The Windward, a 300+ unit apartment facility. The site benefits from surrounding retailers such as HEB, At Home, Jiffy Lube and more, creating a strong consumer draw to the immediate area. This...

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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 : 10,354 79,482 262,924
2023 Total Population : 10,164 78,144 259,300
2023 Employed Civilian Pop : 5,011 39,969 134,345
2023 Total Businesses : 258 2,470 7,690
2023 Average Household Income : $ 152,799 $ 143,733 $ 133,395
2023 Total Consumer Spending : $ 444 M $ 3205 M $ 10064 M
2023 Median Age : 37 37 36
2023 Total Households : 3,455 26,402 88,777
2023 Pop Age 25+: Bachelor's Degree : 2,163 16,789 56,407
2023 Average Home Value : $ 356,429 $ 333,831 $ 331,119
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jarvis Rd Telge Rd 2001 3,400 0.10 mi
Jarvis Rd Secret Forest Ct 2011 4,840 0.11 mi
Coles Crossing Dr Tylermont 2011 1,670 0.37 mi
Cricket Hollow Dr Shady Knoll Ln 2011 550 0.39 mi
Whispering Valley Dr Broken Brook Ct 2014 7,514 0.46 mi
Pleasant Grove Rd Telge Rd 2011 360 0.64 mi
Jarvis Rd Cypress Valley Rd 2014 11,580 0.68 mi
Telge Rd Pleasant Grove Rd 2014 24,584 0.72 mi
Telge Road Pleasant Grove Rd 2019 22,776 0.77 mi
Huffmeister Rd Jarvis Rd 2014 12,800 0.78 mi

Listing Broker

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