7-Eleven
7-Eleven Absolute NNN Lease | Top 17% of all 7-Eleven Locations Nationwide (Placer.ai) | Elmsford, N
Marketing description
RIPCO Real Estate is pleased to offer for sale 37 East Main Street, a 3,160 SF commercial property leased to 7-Eleven, located in Elmsford, NY which is part of the New York City MSA. This 7-Eleven location was built in 2021 and initially signed a 15-year absolute NNN lease with four 5-year options to extend. They currently have 10 years remaining on their initial term. The lease contains +10% rental increases every 5 years, providing the Landlord with management-free income and a built-in hedge against inflation. This 7-Eleven ranks in the top 17% of all 7-Eleven locations nationwide by visits (including gas sites), with over 239,000 annual visitors, according to Placer.ai. The property sits on the northwest corner of the signalized intersection of E Main Street and N Hillside Avenue. Within 3 miles of 7-Eleven, there is a population of 90,620 and an average household income of $198,427.
The asset would be an attractive opportunity for investors looking for management-free income, with newer construction, and a strong national credit tenant within the largest metropolitan area in the country.
Investment highlights
INTERNATIONAL CREDIT TENANT
- 7-Eleven is the world’s largest convenience store chain, operating, franchising, or licensing over 85,000 stores across 19 countries and regions
- Founded in 1927, the company has grown to become a global leader in the convenience retail industry. In the fiscal year 2024, the company reported revenues of $81.3 billion
- 7-Eleven is investment grade (S&P: A-) with over 13,000 locations in United States and Canada alone
STRATEGIC LOCATION
- Located at the signalized intersection of N Hillside Avenue and E Main Street
- Annual average daily traffic count of 19,213 (AADT)
- Situated within one mile of the Interstate-287 on-ramp, which sees a daily traffic volume of over 97,000 vehicles
- Less than one mile from Sprain Brook Parkway, an alternate to the Bronx River Parkway, providing an interchange connection through Western Westchester at 1-287, boasting 84,414 in AADT
- Located in the NYC MSA, the largest metropolitan area in the United States with a population of over 20,000,000
STRONG DEMOGRAPHICS
- This 7-Eleven ranks in the top 17% of all 7-Eleven locations nationwide by visits (including gas sites), with over 239,000 annual visitors, according to Placer.ai
- 90,620 population within a 3-mile radius
- $198,427 average household income within a 3-mile radius
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