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7-Eleven, Statesville, NC

7-Eleven, Statesville, NC

Investment Summary

Price $6,900,000
Cap Rate
Lease Term 15 Years
Lease Type NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 5% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 4,088 SF
Lot Size 2.98 Acres (129,809 SF)
Status Sold
Lead Brokers

Investment Highlights

Property Description

The property has a high-visibility location along U.S. Route 70/Salisbury Highway (62,000 AADT). The location also maintains a beneficial proximity to highly trafficked North Carolina thoroughfares, including Interstate 77 (65,000 AADT). The site is strategically placed three miles from Mitchell Community College (3,500 students), significantly increasing regular traffic to the location. The site also has convenient access to multiple surrounding hotels, including Ramada by Wyndham, Best Western, and Hilton Garden Inn (combined 307 rooms).
Visibility to the property is increased by the site’s centralized location in a densely populated and growing retail corridor. 44,679 residents live within a five-mile radius of the location, establishing a large regular customer base for the site. The location is five minutes from Crossroads Shopping Center, which features 35 stores and 335,000 SF of retail space, including Walmart Supercenter, Big Lots, Tractor Supply Company, Cracker Barrel, and more. The site serves as a common gateway to Charlotte, the most populous city in North Carolina (population 885,708), and the property is primed to grow along with the surrounding area, with a projected 11 percent average annual household income increase within a one-mile radius of the site in the next five years.

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