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3948 CARATOKE HWY Barco NC 27917-9552

[Locked] • APN 006000000580000

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Details
Property Type Retail
Sub Type Convenience Store
Building SqFt 2,490
Lot SqFt 25,278
Acreage ******
Number of Units 1
Sold Date ******
Sold Price ******
Sold Price/SqFt ******
Zoning Code GB
Year Built 1979
Building Count 2
Opportunity Zone Yes
Lease Rate ******
Lease Type ******
Remaining Term ******

Property History

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Property Type
Property Type
Retail
Property Subtype
Convenience Store, Gas Station
Investment Highlights
  • Top Rated Tenant – 7-Eleven has investment-grade credit, rated ‘A’ by Standard and Poor’s.

  • Iconic Brand – 84,000+ Locations Worldwide, 13,000+ in the United States and Canada.

  • Proven Location – 7-Eleven has successfully operated at this location for 40+ years.

  • Absolute NNN Lease – Offering zero landlord responsibilities.

  • Hedge Against Inflation – Built in rental increases – 10%

  • Low Risk Involvement – Below average 7-Eleven market rent, increasing the long-term viability of the tenant.

  • Prime Location – Strategically located at the intersection of two highways, the property benefits from visibility and traffic.

  • Fee Simple – Eligible for bonus depreciation – please consult with a CPA to confirm.

  • Stable and Recession-Resistant Industry – Provides you with a consistent income stream.

  • 24/7 Operation with Beer and Wine Sales – Provides convenience and attracts a broader customer base.

  • Growing Population – Steadily increasing population with estimates showing strong growth around 2% – 5% annually.

Sale Date
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Sold Price
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Buyer Borrower 1 Corp Indicator
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Buyer Borrower 1 Name
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Buyer Borrower 1 Relationship Type
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Document Number
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Document Type
******
Recording Book
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Recording Page
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Resale Flag
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Sales Price Code
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Seller 1 Corp Indicator
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Transaction Type
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Seller 1 Name
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Transfer Tax
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Sold By
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Sold To
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Property Type
Property Type
Retail
Property Subtype
Convenience Store
Asking Details
Asking Cap Rate
******
Marketing Description
CIRE Partners is pleased to exclusively offer for sale a single tenant 7-Eleven absolute triple net leased asset located in Barco, North Carolina. The investment contains a corporately guaranteed lease from an investment grade tenant. 7-Eleven (S&P Credit Rating: AA-) has operated at the site for ±40 years. The current lease term runs until 2032 with three (3) - 5 year options to extend the lease at 10% rental increase at the beginning of each option period. The subject property is comprised of a convenience store and gas station consisting of approximately 2,640 SF retail building and two fuel dispensers with metal canopy on a 0.58 acre parcel.


Strategically located on the Northwest corner of Caratoke Highway (Hwy 168) and Shortcut Rd (U.S. Route 158) this location benefits from traffic of these two major thoroughfares. The prominent location is highly accessible with great ingress/egress, offering customers two points of entry along Caratoke Highway. The property is located across the street from the US Post Office and the State Employees Credit Union which provide a great draw for the investment property. The offering is also the primary convenience store for the Currituck County Regional Airport. The offering is also located less than 25 minutes from the College of Albemarle. Additional surrounding retail tenants include Morris Farm Market, Ambrose Furniture and Sound Feet Shoes, among others.

Investment Highlights
  • Strategic Location: Located at the intersection of two highways, Caratoke Hwy (Hwy 168) and Shortcut Rd. (Us Route 158)
  • Proven Location: 7-Eleven has successfully operated at this location for ±40 Years
  • 24-Hour Location
  • Beer and Wine Sales
  • Recent Lease Renewal Illustrates 7-Eleven’s Commitment to this Location
  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Scheduled rental increases every 5 years provide for hedge against inflation
  • Strong Corporate Guarantee from 7-Eleven, Inc. - the Largest convenience store chain in the world with more than 64,000 stores in 18 countries
  • 7-Eleven is a “Recession-Proof” tenant and e-commerce resistant
  • Investment-Grade Tenant (7-Eleven S&P Credit Rating: AA-; Outlook: Stable)
  • Potential Tax Benefits: Asset may be eligible for an accelerated depreciation schedule (Consult with your tax or accounting professional regarding how this would apply to you)
Property Type
Property Type
Retail
Asking Details
Asking Cap Rate
******
Marketing Description
Sold Property.
Property Type
Property Type
Retail
Asking Details
Asking Cap Rate
******
Marketing Description
Sold Property.

Loan History

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Financial History

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****** Data
Net Operating Income
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Reporting Date
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Tax History

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Contact Information

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Ownership Information

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Property Details

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There are no additional details for this property

Contacts

Sold on
 BY:
AG
Arbi Goce PRO
•••.•••.3112
•goce@••••••••••••.com
Brokerage logo
Listing removed on
 BY:
NH
Nick Hahn PRO
•••.•••.2267
••••.Hahn@••••••••.com
Brokerage logo

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