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DOM: 576 Updated: 08.06.24 Posted: 10.17.23 Status: Active 04.18.24

Summary

Price $9,376,000
Built/Renov 2007/2022
Tenant 7-Eleven
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 7,478
Lease Start 08-01-2021
#Units 5
Price/SF $1,253.81
Expiration 08-01-2036
Tenant Type Convenience/Gas
NOI $595,400
R. Term 11.2
Ownership Fee Simple
Rent/SF $79.62
Increases 7.5%/3/yrs
Pop 5Mi 80,533
Lot/AC 2.36
Options 3/5yrs/4%
AHHI 5Mi $81,497

Lease Highlights

  • Recently renovated 2022
  • 7-Eleven has approximately 13 years remaining on its current term with 3 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the initial term, and 4% increases during extension terms
  • Landlord’s insurance and real estate taxes are reimbursed by tenant
  • Personal guarantee from a multi-unit franchisee operator
  • 7-Eleven is an investment grade tenant (S&P: A)

Location Description

7-Eleven is strategically located at the signalized, hard-corner intersection of W. Loop 281 and W. Cotton Street, which averages a combined 23,200 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign along W. Loop 281. Furthermore, the property is situated next to several large industrial facilities for PODS, Phoenix...

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Maps

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Tenant

  • Tenant: 7-Eleven
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:5
  • 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 12,500...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,870 38,347 81,473
2023 Total Population : 2,787 37,969 81,089
2023 Employed Civilian Pop : 1,157 16,746 36,374
2023 Total Businesses : 243 2,567 4,352
2023 Average Household Income : $ 69,979 $ 80,536 $ 78,129
2023 Total Consumer Spending : $ 61 M $ 1047 M $ 2180 M
2023 Median Age : 36 37 37
2023 Total Households : 1,008 14,929 31,992
2023 Pop Age 25+: Bachelor's Degree : 338 4,679 9,260
2023 Average Home Value : $ 187,083 $ 202,065 $ 210,246
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Ward Dr W Marshall Ave 2013 357 0.51 mi
H G Mosley Parkway Pinegrove Ln 2021 10,161 0.57 mi
H G Mosley Parkway W Marshall Ave 2020 6,925 0.57 mi
West Loop 281 W Marshall Ave 2021 19,720 0.57 mi
West Loop 281 Jaycee Dr 2020 18,392 0.57 mi
Enterprise St McKay Dr 2013 2,304 0.63 mi
Conroe St W River Oaks Dr 2013 463 0.66 mi
N Ward Dr Stonehaven Dr 2013 658 0.69 mi
West Loop 281 Karnes Rd 2021 17,974 0.69 mi
West Loop 281 W Harrison Rd 2020 17,087 0.69 mi

Listing Broker

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Patrick Luther

SRS National Net Lease Group

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  • 420 Listings
  • 82316 Views
  • 204 Sold
Matthew Mousavi

SRS National Net Lease Group

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  • 369 Listings
  • 74842 Views
  • 172 Sold

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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