7-Eleven
Retail | 5.70% CAP | 4,200 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a 7-Eleven located at 2865 Bishop Rd, Willoughby Hills, OH 44092. The site consists of roughly 4,200 rentable square feet of building space on an estimated 2.39-acre parcel of land. This 7-Eleven is subject to a 11-year Triple Net (NNN) lease, which commenced 8/1/2025. The current annual rent is $157,841 and has scheduled increases of 10.00% every 5 years.
Investment highlights
Long Term Absolute Triple Net (NNN) Lease | 7-Eleven just extended the lease term for eleven (11) years, showing their commitment to this location. Additionally, there are three (3), five (5)-year option periods, bringing the potential remaining lease term to over 26 years.
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.
Attractive Rental Increases | The lease features ten percent (10%) increases every five (5) years, including in each of the three, five-year option periods. The next ten percent (10%) increase in five years changes the 5.65% cap rate into a 6.22% cap rate.
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