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31245357
31245358

6909 Grand Mission Blvd, Richmond, TX 77407

PD
CA CA 01797033
Deltondo Advisory Group Irvine
Marcus & Millichap - Orange County
Listed by Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County
$6,000,000
99 days on market
Updated 99 days ago

7-Eleven - Ranks in 95th Percentile Nationally (Placer.AI)

Details
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food (+1)
Square Footage 4,842
Cap Rate 4.9%
NOI $294,000
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 08/30/2037
Remaining Term 11.2
Rent Bumps Yes
Lease Options 5x5 Years
Price per SqFt $1,239
Broker Co-Op Yes
Class A
Year Built 2022
Buildings 1
Acreage 1.270
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 08/31/2022
Occupancy Date 08/31/2022
Ground Lease No
Ownership Fee Simple

Bonus Depreciation Capability

Investment highlights

CORPORATE-GUARANTEED 7-ELEVEN GLOBAL CONVENIENCE LEADER

Brand-New 2022 Construction Featuring a Corporate-Guaranteed Lease From 7-Eleven, The World’s Largest Convenience Store Chain with Tens of Thousands of Locations Worldwide

BRAND-NEW 2022 CONSTRUCTION 4,842-SF MODERN PROTOTYPE

Recently Developed High-Quality 4,842-Square-Foot Store Built In 2022 On A 1.27-Acre Parcel Designed for High-Traffic Convenience Retail

HIGH-GROWTH FORT BEND COUNTY EXPANDING RESIDENTIAL AREA

Richmond Is Part of the Houston–The Woodlands–Sugar Land MSA—One of the Largest and Fastest-Growing Metro Areas in U.S. Driving Demand for Daily-Needs Retail Including Fuel and Convenience Services

ABSOLUTE NET (NNN) LEASE ZERO LANDLORD RESPONSIBILITIES

Long-Term Absolute-Net Structure with No Landlord Obligations; Tenant Responsible for All Operating Expenses Including Roof, Structure, Insurance, And Maintenance

7.5% RENT INCREASES EVERY 5 YEARS

Contractual Rent Escalations Throughout The Primary Term And Options Provide Built-In NOI Growth And Long-Term Inflation Protection

POSITIONED ALONG MAJOR GROWTH CORRIDOR GRAND MISSION BOULEVARD

The Property Is Located on Westpark Tollway (50,037 VPD) Serving Dense Master-Planned Residential Communities in Southwest Houston

Listing Contacts

PD
CA CA 01797033
Deltondo Advisory Group Irvine
Marcus & Millichap - Orange County
Listed by Deltondo Advisory Group Irvine, Marcus & Millichap - Orange County

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$294,000.00
$24,500.00/mo

Valuation Metrics

0
DSCR
4.9%
Cap Rate
4.9%
ROI

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Additional Information

Name
Tim Speck
License
TX 9002994
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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