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Views: 187 DOM: 432 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 11.7
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

  • 1 Mile
  • 3 Miles
  • 5 Miles

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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