Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus, Institutional Property Advisors
$3,418,803
7-Eleven - Absolute NNN Corporate Guaranty (A-Rated)
Details
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 978
Pumps 4
Cap Rate 6.29%
NOI $215,000
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, 76 Gas
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 05/10/2036
Remaining Term 11
Rent Bumps Yes
Lease Options 3, 5 Year Options
Year Built 1962
Acreage 0.230
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 05/11/2021
Ground Lease No
Qualifies for Bonus/Accelerated Depreciation | Ranked #2 7-Eleven/76 Site in the Region (placer.ai)
Marketing description
Marcus & Millichap is pleased to present a premier net lease investment opportunity featuring a 7-Eleven convenience store and gas station located in Auburn, California. This absolute triple-net (NNN) leased property offers approximately 11 years remaining on the initial lease term with a corporate guaranty from 7-Eleven, Inc., an A-rated credit tenant. The property features a Sierra Express/7-Eleven convenience store with 4 fueling stations on a 0.23-acre site.
Investment highlights
- Approx. 11 Years Remaining on Absolute Triple-Net (NNN) Lease with Corporate Guaranty by 7-Eleven, Inc. (A - Rated)
- 7.5% Rental Increases Every 5 Years with Multiple Renewal Options
- Site Includes a Sierra Express/7-Eleven Convenience Store and 4 Fueling Stations
- Signalized Hard Corner Location, Visible to 30,500+ Cars per Day Along Grass Valley Highway
- Property Qualifies for Bonus Depreciation or 15-Year Accelerated Depreciation per IRS 1250 Property Designation
- Located Right Off the I-80 Freeway (71,000+ Cars per Day), Providing a Direct Route to Sacramento to the Southwest and Lake Tahoe to the Northeast
- Average Household Income Exceeds $113,000 within a 5-Mile Radius
- Surrounded by National Tenants: Dutch Bros Coffee, Grocery Outlet, Staples, etc.
- Situated in the Sacramento MSA with 42,754 People Living within 5 Miles
Listing Contacts
Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus, Institutional Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$215,000.00
$17,916.67/mo
Valuation Metrics
0
DSCR
6.29%
Cap Rate
6.29%
ROI
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