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Views: 164 DOM: 263 Updated: 09.05.24 Posted: 12.20.23 Status: Active

Summary

Price $7,300,000
Built/Renov 2024
Tenant 7-Eleven
Cap Rate 5.51%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,714
Lease Start 03-01-2024
#Units 83,282
Price/SF $1,548.58
Expiration 02-28-2039
Tenant Type Convenience/Gas
NOI $402,200
R. Term 14.5
Ownership Fee Simple
Rent/SF $85.32
Increases 10.0%/5/yrs
Pop 5Mi 732,479
Lot/AC 1.28
Options 3/5yrs/10%
AHHI 5Mi $135,529

Lease Highlights

  • Brand-new construction 2024
  • Brand new 15-year lease with 3 (5-year) renewal options
  • The lease features 10% rent increases every 5 years throughout the base term and at the start of each renewal option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed | Investment grade tenant

Location Description

The new construction 7-Eleven features a state-of-the-art convenience store with 12 fueling stations and a fuel island canopy. It is strategically located at the signalized, hard corner intersection of Washington Avenue and Moonachie Avenue (20,200 VPD), situated in the heart of a densely developed industrial and manufacturing neighborhood. The property benefits from outstanding visibility 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 : 19 105,582 747,775
2023 Total Population : 19 106,575 751,121
2023 Employed Civilian Pop : 11 57,108 390,355
2023 Total Businesses : 373 5,526 23,768
2023 Average Household Income : $ 135,442 $ 125,681 $ 122,714
2023 Total Consumer Spending : $ 0 M $ 4350 M $ 30031 M
2023 Median Age : 38 41 39
2023 Total Households : 4 40,961 287,855
2023 Pop Age 25+: Bachelor's Degree : 1 22,137 136,173
2023 Average Home Value : $ 566,667 $ 544,866 $ 598,287
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Washington Ave Paterson Plank Rd 2020 1,829 0.07 mi
Washington Avenue State Hwy120 2017 1,845 0.08 mi
Paterson Plank Rd Michele Pl 2018 1,841 0.12 mi
Paterson Plank Rd 2020 1,515 0.14 mi
Paterson Plank Rd Michele Pl 2017 20,766 0.17 mi
Paterson Plank Rd Gotham Pkwy 2013 27,786 0.25 mi
Paterson Plank Road Gotham Pkwy 2018 20,724 0.26 mi
State Rte 120 Paterson Plank Rd 2020 3,833 0.28 mi
Paterson Plank Rd 2020 25 0.38 mi
2020 234 0.46 mi

Listing Broker

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