7-Eleven,
Gastonia, NC Investment Summary
| Price | $6,178,947 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 7.5% Rental Increases Every Five (5) Years |
| Year Built | 2021 |
| Building Size | 3,430 SF C-Store, 990 SF Car Wash |
| Lot Size | 1.61 Acres (69,999 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 15-YEAR ABSOLUTE NNN LEASE
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» 7.5% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor
» New 15-year absolute NNN lease with four (4) five (5) year options
» 7-Eleven is the largest convenience retail chain in the world, with more than 67,000 stores worldwide
INFILL LOCATION NEAR GASTONIA’S LARGEST SCHOOLS, EMPLOYERS, AND COMMUNITY HUBS
» Hard-corner location at the signalized four-way intersection of East Garrison Boulevard and South New Hope Road (39,529 vehicles per day)
» Seven minutes From CaroMont Regional Medical Center (435 beds, 4,300 employees, constructing $90M critical-care tower)
» Walking distance to W.P. Grier Middle School (669 students), significantly increasing lunchtime traffic to the location
LOCATED IN DENSELY POPULATED AND GROWING RETAIL CORRIDOR
» Population of 113,611 within five miles of the property, establishing a large regular customer base for the site
» Five minutes from Eastridge Mall, which features 70 stores and 919,557 SF of retail space, including Belk and Dillard’s
» Surrounded by multiple recreational attractions, including Gaston Memorial Park, Catawba Creek Golf Course, and is only eight minutes from Downtown Gastonia
» Projected 10 percent average household income increase within a five mile radius of the site in the next five years
NEW 2021 CONSTRUCTION WITH 7-ELEVEN CONVENIENCE STORE AND DRIVE-THRU CAR WASH
» Features six (6) of the latest 7-Eleven convenience store fuel pumps, a freestanding C-store, and a drive-thru car wash catering to both pedestrian and vehicular traffic
Property Description
SOLD
The property has an irreplaceable infill location at the signalized four-way intersection of East Garrison Boulevard and South New Hope Road, which experiences a traffic count of 39,529 vehicles per day. The location is strategically placed seven minutes from CaroMont Regional Medical Center (435 beds, 4,300 employees), and five minutes from Eastridge Mall, which features 70 stores and 919,557 SF of retail space. The location is also walking distance to W.P. Grier Middle School (650+ students), significantly increasing lunchtime traffic to the site.
Visibility to the property is increased by the site’s centralized location in a densely populated and growing retail corridor. 113,611 residents live within a five-mile radius of the location, establishing a large regular customer base for the site. The location is surrounded by multiple recreational attractions, including Gaston Memorial Park, Catawba Creek Golf Course, and is only eight minutes from Downtown Gastonia. The property is primed to grow along with the surrounding area, with a projected 10 percent average household income increase within a five-mile radius of the site in the next five years.
