ABSOLUTE NNN 7-ELEVEN - ASSUMABLE LOAN 3.85%
ABSOLUTE NNN 7-ELEVEN - ASSUMABLE LOAN 3.85%
Marketing description
Cook Commercial Partners is pleased to present the opportunity to acquire an absolute NNN, corporate-leased 7-Eleven convenience store located in Fort Worth, Texas. The property is a retrofit remodel built out to 7-Eleven's specifications in 2019 and operates as a full-service convenience store with fuel sales and a car wash, serving a strong, established trade area.
The asset is secured by a corporate 7-Eleven, Inc. lease with an original 15-year initial term, approximately 9 years of remaining lease term, and four (4) five-year renewal options, providing long-term income stability. The lease features 10% rental increases every 5 years, offering predictable income growth throughout the remaining primary term and option periods.
The property also benefits from an assumable note at a fixed interest rate of 3.85 percent, with a loan maturity (balloon) on January 1, 2030, providing attractive in-place financing in today's interest rate environment.
7-Eleven is the global leader in convenience retail with 85,000+ locations worldwide, including 15,000+ in the U.S., and is backed by an "A" S&P credit rating, providing investors with a highly secure tenant profile.
Investment highlights
- Absolute NNN Corporate Lease - Corporate-guaranteed lease by 7-Eleven, Inc., with tenant responsible for all operating expenses, including taxes, insurance, maintenance, roof, structure, and parking lot.
- Assumable Below-Market Financing - In-place assumable note at a fixed 3.85% interest rate with a January 1, 2030 balloon, providing compelling leverage in a higher-rate environment.
- 100% Bonus Depreciation Potential - Opportunity for accelerated depreciation benefits; investors should consult their tax advisor.
- Long-Term Lease with Strong Remaining Term - Original 15-year initial term with approximately 9 years remaining and four (4) five-year renewal options, providing up to 29 years of potential future income.
- Attractive Built-In Rent Growth - Lease features 10% rent increases every 5 years, offering predictable, long-term income appreciation.
- Recent Retrofit to Corporate Specifications - Property was remodeled in 2019 to 7-Eleven's current prototype standards, reducing near-term capital expenditure risk.
- Creditworthy National Tenant - 7-Eleven is the global leader in convenience retail with 85,000+ locations worldwide, including 15,000+ in the U.S., and is backed by an "A-" S&P credit rating, providing investors with a highly secure tenant profile.
- Full-Service Convenience Retail - The site operates as a convenience store with fuel sales and a car wash, enhancing traffic counts and revenue durability.
- Passive Investment Profile - Absolute NNN structure allows for hands-off ownership with no landlord management responsibilities.
- Strong Fort Worth Location - Located in a dense, established trade area within the Dallas–Fort Worth Metroplex, one of the fastest-growing regions in the country.
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