7-Eleven

NNN Pro is pleased to present the exclusive listing for a 7-Eleven located at 1320 Benvenue Road, Rocky Mount, NC 27804.​ The site consists of roughly 4,650 rentable square feet of building space on an estimated 1.61-acre parcel of land.​ This 7-Eleven is subject to a 15-year Triple Net (NNN) lease, which commenced 9/1/2022.​ The current annual rent is $302,420 and has scheduled increases of 10.00% every 5 years.​

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  Long Term Absolute Triple Net (NNN) Lease | Long term original 20-year absolute triple net (NNN) lease with no landlord responsibilities. There are approximately twelve (12) years remaining on the lease. Additionally, there are four (4), five (5)-year option periods, bringing the potential remaining lease term to over 30 years.

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  Attractive Rental Increases | The lease features ten percent (10%) increases every five (5) years, including in each of the four, five-year option periods. The next ten percent (10%) increase occurs next year, in 2027. In just one year, this increase changes the 5.25% cap rate to about a 5.75% cap rate.

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  Corporate Guarantee | This lease is guaranteed by 7-Eleven, Inc. an outstanding A-rated credit (S&P) with decades of successful operations. 7-Eleven is the largest convenience store chain in the world, with over 60,000 in eighteen countries, of which over 10,700 in North America.

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  Strong Traffic Counts | The subject property is located at a hard corner at a signalized intersection featuring high traffic counts. Benvenue Road experiences 27,534 vehicles per day, while Highway 301 brings an additional 40,230 vehicles into the immediate area each day. Similarly, Highway 64 intersects with Highway 301 to bring an additional 41,115 vehicles into close proximity of the subject property.