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Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

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7-Eleven, Houston, TX

Investment Summary

Price $8,290,000
Cap Rate 5.00%
NOI $414,500
Lease Term 15 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, maintenance, and repair, including roof, structure, and parking lot
Rental Increases 7.5% rental increases every five (5) years
Year Built 2024
Building Size 4,650 SF
Lot Size 2.20 acres (96,262 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH INVESTMENT GRADE CREDIT
» New 15-year absolute NNN lease to an iconic corporate tenant
» Absolute NNN lease requires no landlord management, ideal for an out-of-area of passive investor
» 7-Eleven, Inc. is an investment grade tenant with an “A” rating from Standard & Poor’s
» 7-Eleven is the largest convenience retail chain in the world, with more than 78,000 stores worldwide
» 7.5% rental increases every five years in initial term and option periods, providing a long-term stable investment opportunity

HARD-CORNER LOCATION ON HEAVILY TRAFFICKED HOUSTON INTERSECTION
» High-visibility and easily accessible hard-corner location at the signalized intersection of Fairmont Parkway & Burke Road, combining for 42,205 vehicles per day directly in front of the site
» Multiple access points, ideal for a 7-Eleven location
» Surrounded by local and major national brand retail tenants including ALDI, Walmart Supercenter, Lowe’s, Chick-fil-A, Chipotle, McDonald’s, Taco Bell, Firestone, Jiffy Lube, CVS, Whataburger, Dollar Tree, and many others
» Two miles from a heavily trafficked on/off ramp to Sam Houston Tollway, positioning the site to capture significant commuter traffic
» Walking distance to the Ashmore Apartments, Parkway Senior Apartments, Mosaic Apartments, the Park at Leyton Apartments, and the Parc Bay Apartment Homes complexes
» One mile from Pasadena Memorial High School (2,972 students)

DENSELY POPULATED LOCATION IN HOUSTON WITH EXCELLENT DEMOGRAPHICS
» 300,189 residents live within five miles of the property, establishing a large and stable customer base for the site
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise 7-Eleven and Houston for steady concurrent growth
» Average annual household income of $81,729 within five miles of the site (projected 13% increase by 2028)
» 15 miles from Downtown Houston, the fourth most-populous city in the U.S.
» Metro Houston added 122,800 jobs in 2023

NEW 2024 BUILD-TO-SUIT CONSTRUCTION
» High-quality 2024 build-to-suit construction built to 7-Eleven’s latest prototype featuring a diesel fueling station
» Site features 52 total parking stalls as well as 7 MPD’s (14 fueling stations) on a large 2.20-acre parcel with multiple entry/exit points into and out of the property
» Texas is an income tax-free state

Property Description

» This 7-Eleven features a high-visibility and easily accessible hard corner location at the signalized intersection of Fairmont Parkway & Burke Road, combining for 42,205 vehicles per day directly in front of the site
» The property is surrounded by local and major national brand retail tenants including ALDI, Walmart Supercenter, Lowe’s, Chick-fil-A, Chipotle, McDonald’s, Taco Bell, Firestone, Jiffy Lube, CVS, Whataburger, Dollar Tree and many others
» Situated two miles from a heavily trafficked on/off ramp to Sam Houston Tollway, positioning the site to capture significant commuter traffic
» The site is one mile from Pasadena Memorial High School (2,972 students)
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise 7-Eleven and Houston for steady concurrent growth
» Average annual household income of $81,729 within five miles of the site (projected 13% increase by 2028)
» 15 miles from Downtown Houston, the fourth most-populous city in the U.S.
» Metro Houston added 122,800 jobs in 2023

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