Listed by Secure Net Lease
$6,793,000
7-Eleven
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 4,640
Cap Rate 5.1%
NOI $346,436
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 01/01/2036
Remaining Term 9.5
Rent Bumps Yes
Lease Options (4) 5-Year Renewal Options
Year Built 2020
Acreage 1.140
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/2021
Ground Lease No
Signalized Hard Corner | First Convenience Store Entering the Outer Banks
Marketing description
- Approx. 10 Years Remaining on Corporate Absolute NNN Lease Store opened in January 2021
- 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.
- Excellent hard corner, signalized location at the intersection of N Croatan Hwy & Woods Rd in Kitty Hawk, NC which is estimated to see approximately 21,000 vehicles per day combined. This is the first convenience store on your way into the Outbanks from Point Harbor, and last leaving.
- Dense retail corridor surrounded by national tenants including Costco, IKEA, Walgreens, Jewel Osco, Papa's Pizza Place, ARC Athletics Center, and community family aquatics center.
- Subject property located in the Outer Banks. Visitors to the Outer Banks spend over $2 billion annually.
- Adjacent to Kitty Hawk Elementary on the AM side of the road. The elementary school has nearly 500 students.
- Cape Hatteras National Seashore is located just 45 minutes away from the subject property. This National Park boasts over 1.5MM visitors annually.
Investment highlights
- Approx. 10 Years Remaining on Corporate Absolute NNN Lease
- 10% Rent Increases Every 5 Years In Primary Term & Options
- On the AM Side of the Road, Adjacent to Kitty Hawk Elementary
- 7-Eleven is the Largest Chain Store Operator Worldwide with Over 85,000 Locations
- Signalized Hard Corner Location with a Combined 27K VPD
Listing Contacts
Listed by Secure Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$346,436.00
$28,869.67/mo
Valuation Metrics
0
DSCR
5.1%
Cap Rate
5.1%
ROI
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