Listed by Secure Net Lease
$7,805,000
7-Eleven
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 3,145
Cap Rate 5%
NOI $390,262
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 09/01/2035
Remaining Term 9.2
Rent Bumps Yes
Lease Options (4), 5-Year Options to Renew
Price per SqFt $2,482
Year Built 2020
Buildings 1
Stories 1
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2020
Prime Austin Submarket | 2020 Construction With Strong Highway Visibility And Affluent Demographics
Marketing description
- 10 Years Remaining on Absolute NNN Lease with 10% Rental Increases Every 5 Years In Primary Term & Options
- Strong State Highway Location with 48,000+ VPD State Hwy 71 is a 253-mile-long thoroughfare in Austin and surrounding cities
- Affluent Austin Suburb Spicewood is an outer suburb of Austin, 1,3,5-mile Avg HH Incomes Exceed $135k
- Lake Travis Community Features Top Ranked School Systems and is home to Several Massive Luxury Residential Developments
- Bonus Depreciation Eligible, Check with CPA
Investment highlights
- Open & Operating - Rent Commenced in September of 2020
- 10 Years Remaining on Absolute Net Lease with 10% Rental Increases Every 5 Years in both the Primary Term and (4) 5-Year Options.
- Strong State Highway Location with 48,000+ VPD State Hwy 71 is a 253-mile-long thoroughfare in Austin and surrounding cities, connecting up to I-35 - the main N/S interstate connecting Austin to Waco and Dallas (North).
- Affluent Austin Suburb Spicewood is an outer suburb of Austin, The trade area average HH incomes exceed $136,000, $158,000, and $142,000 within the 1-, 3-, and 5-mile radius, respectively.
- Lake Travis Community Features Top Ranked School Systems and is home to Several Massive Luxury Residential Developments.
- World's Largest Convenience Store Chain - 7-Eleven is the global leader in convenience retail, with over 85,000 locations worldwide, including 15,000+ in the U.S. The company is backed by an "A" credit rating from S&P, ensuring financial stability and a strong tenant profile for investors.
Listing Contacts
Listed by Secure Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$390,262.00
$32,521.83/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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