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Views: 48 DOM: 103 Updated: 10.24.24 Posted: 09.09.24 Status: Active

Summary

Price $5,917,980
Built/Renov 2020
Tenant 7-Eleven
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,842
Lease Start 05-01-2021
#Units 83,282
Price/SF $1,222.22
Expiration 04-30-2036
Tenant Type Convenience/Gas
NOI $295,899
R. Term 11.4
Ownership Fee Simple
Rent/SF $61.11
Increases 10.0%/2/yrs
Pop 5Mi 194,035
Lot/AC 2.10
Options 5/5yrs/10%
AHHI 5Mi $122,727

Lease Highlights

  • 7-Eleven has 11+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

7-Eleven is strategically located at the signalized, hard corner intersection of Spring Cypress Road and Telge Road, with access to a high combined daily traffic count of 53,700 vehicles. Spring Cypress Road is a major thoroughfare that spans 20 miles, connecting I-45 to Highway 290. The property is adjacent to Little Cypress Creek Preserve and is just minutes from renowned golf courses,...

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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
2027 Total Population : 9,318 78,268 210,024
2022 Total Population : 9,234 76,551 205,034
2022 Employed Civilian Pop : 4,859 39,530 105,289
2022 Total Businesses : 184 2,079 6,123
2022 Average Household Income : $ 182,616 $ 159,109 $ 140,653
2022 Total Consumer Spending : $ 459 M $ 3361 M $ 8161 M
2022 Median Age : 37 37 36
2022 Total Households : 3,042 25,356 68,887
2022 Pop Age 25+: Bachelor's Degree : 2,571 19,556 46,990
2022 Average Home Value : $ 394,296 $ 357,975 $ 328,844
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Spring Cypress Road Telge Rd 2019 24,458 0.05 mi
Spring Cypress Rd Telge Rd 2009 15,416 0.13 mi
Telge Road Spring Cypress Rd 2019 34,511 0.20 mi
Telge Rd Louetta 2008 27,937 0.32 mi
Louetta Rd Spring Cypress Rd 2008 1,953 0.52 mi
Telge Rd Longwood TrceDr 2014 24,197 0.53 mi
Huffmeister Rd Northlake Forest Dr 2001 4,160 0.54 mi
Louetta Rd Spring Cypress Rd 2011 4,320 0.55 mi
Spring Cypress Rd Cypress Forest Dr 2011 9,220 0.59 mi
Spring Cypress Road Cypress Forest Dr 2019 21,367 0.60 mi

Listing Broker

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