Listed by Newmark | Orange County - Irvine
$3,957,000
7-Eleven - Bothell, WA
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 2,400
Cap Rate 5.6%
NOI $221,595
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven
Lease Type Absolute NNN
Lease Term 15.1
Lease Expiration 01/31/2036
Remaining Term 9.7
Rent Bumps Yes
Lease Options 5 (5-Year)
Price per SqFt $1,649
Year Built 1969
Acreage 0.580
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 01/04/2021
Ground Lease No
Ownership Fee Simple (Land & Building)
Sale Condition For sale by owner
7-Eleven (S&P: A-) | Seattle MSA
Investment highlights
- CORPORATELY GUARANTEED LEASE WITH 7-ELEVEN, INC. | INVESTMENT GRADE CREDIT (S&P: A-) | 7-ELEVEN IS THE LARGEST C-STORE RETAIL CHAIN IN THE WORLD | 77,000+ STORES WORLDWIDE / 13,000+ LOCATIONS IN NORTH AMERICA
- LONG-TERM COMMITMENT | 9.9 YEARS OF PRIMARY TERM REMAINING | 10.00% RENTAL INCREASES EVERY 5 YEARS DURING THE BASE TERM | 7.50% RENTAL INCREASES DURING EACH OF THE FIRST 3 (5-YEAR) OPTIONS | FMV IN OPTIONS 4 & 5 | EXTREMELY PASSIVE ABSOLUTE NNN LEASE | FEE SIMPLE LEASE, ALLOWING FOR ACCELERATED DEPRECIATION
- LOCATED AT THE NE 145TH ST/JUANITA WOODINVILLE WAY NE INTERSECTION (31,267 VPD) | LOCATED 1.8 MILES SOUTH OF DOWNTOWN BOTHELL, 4 MILES NORTH OF KIRKLAND, AND 8 MILES NORTH OF DOWNTOWN BELLEVUE | 11.1 MILES NORTHEAST OF DOWNTOWN SEATTLE
- SEATTLE MSA LOCATION | AFFLUENT & LARGE DEMOGRAPHICS | CLOSE PROXIMITY TO MAJOR EMPLOYERS, HOUSING & ENTERTAINMENT COMPLEXES
Listing Contacts
Listed by Newmark | Orange County - Irvine
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$221,595.00
$18,466.25/mo
Valuation Metrics
0
DSCR
5.6%
Cap Rate
5.6%
ROI
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