Listed by Secure Net Lease
$7,223,000
7-Eleven with Laredo Taco
Details
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food
Square Footage 4,650
Cap Rate 5%
NOI $361,160
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Wawa
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 01/31/2040
Remaining Term 13.6
Rent Bumps Yes
Lease Options (4), 5-Year Renewal Options
Year Built 2024
Acreage 1.540
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/29/2025
Ground Lease No
5.00% CAP | Large Format 7-Eleven w/ Laredo Taco
Marketing description
- Rent Commencement & Store Opening: January 29, 2025
- Brand New 15-Year Corporate NNN Lease with 7.5% rental increases every 5 years in both the primary term and option periods.
- Large Format 7-Eleven - on a 1.543 AC parcel, subject property features 7-Eleven’s restaurant concept, Laredo Taco, 48 parking spaces, 6 gasoline MPDS & 12 fueling positions.
- Traffic Counts: Subject property’s location is right off the intersection of Morrison Rd (27.4k+ VPD) & Pablo Kisel Blvd (18.6k+ VPD)
- Brownsville, TX has a growing aerospace industry anchored by SpaceX’s Boca Chica launch site. The SpaceX South Texas launch site is located near Boca Chica Beach and will be used exclusively for SpaceX’s next-generation launch vehicle, Starship.
- 7-Eleven (S&P rated A) operates in 20 countries and employs over 167,248 people and is the largest chain store operator in the world with 85,000+ stores, 15,000 of which are in North America.
- The Rio Grande Valley Continues To Be One of the Fastest Growing Regions in America – the combined McAllen-Edinburg-Mission metro area is the 5th largest MSA in Texas.
Investment highlights
- Brand New 15-Year Corporate NNN Lease With 7.5% Rental Increases Every 5 Years in Both the Primary Term and Option Periods.
- Large Format 7-Eleven – Sitting on 1.543 AC Parcel, New Store Features a Laredo Taco, 48 Parking Spaces and 6 MPDs.
- High Growth Trade Area Next to the Sunrise Mall (100+ Stores and Restaurants)
- Brownsville/Harlingen Area Is the 8th Largest MSA in Texas
- Largest Chain Retailer in the World
Listing Contacts
Listed by Secure Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$361,160.00
$30,096.67/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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