Investment Summary
Price | $8,032,967 |
Cap Rate | |
NOI | |
Lease Term | 15 Years |
Lease Type | NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance |
Rental Increases | 10% Rental Increases Every Five (5) Years |
Year Built | 2021 (Under Construction) |
Building Size | 4,743 SF |
Lot Size | 16.03 Acres (698,267 SF) |
Status | Sold |
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 Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 15-YEAR NNN LEASE WITH 10% RENTAL INCREASES EVERY FIVE YEARS
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» 7-Eleven is the largest convenience retail chain in the world, with more than 71,100 stores worldwide
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor
» Four (4) five (5) year options creating a stable, long-term investment
NEW 2021 CONSTRUCTION ON LARGE PARCEL FEATURING RAISE THE ROOST RESTAURANT
» New 2021 construction built to latest 7-Eleven prototype with a freestanding c-store for added customer convenience
» Location features Raise the Roost restaurant concept, which includes made-from scratch, hand-breaded fried chicken tenders with signature sauces, bone-in and boneless wings, signature chicken sandwiches, breakfast sandwiches, and more
» The large, 16.03-acre parcel features 10 fuel pumps and seven diesel pumps for commercial trucks with 18-wheeler capacity, serving truck drivers on route
HIGH VISIBILITY LOCATION NEAR MAJOR INTERSTATE
» High-visibility location along Atlanta and Charlotte and near the North and South Carolina border
» Immediate access to Interstate 85 on and off ramp
» 40 miles from Downtown Charlotte, a major city and commercial hub in North Carolina
CENTRAL LOCATION NEAR SCHOOLS, ENTERTAINMENT VENUES AND COMMUNITY HUBS
» 66,313 residents live within 10 miles of the location with an average annual household income of over $54,000, creating a stable customer base for the site
» 1.4 miles from Grover Elementary School (333 students) increasing traffic in the area
» 5.8 miles from Catawba Two Kings Casino (500 slots), a 24-hour thrilling new gaming and entertainment destination recently opened in nearby Kings Mountain
Property Description
SOLD
The property is located just off Interstate 85, which has a traffic count of 43,400 AADT. The site is 1.4 miles from Grover Elementary School (333 students), increasing traffic in the area. Catawba Two Kings Casino, which recently opened in nearby Kings Mountain, is a 24-hour thrilling new gaming and entertainment destination that features 500 slots, and is located 5.8 miles from the site. The property is less than a mile from Green Oaks Apartments (24 units), establishing a regular customer base for 7-Eleven. The property resides in a growing area with an average annual household income of over $54,000 and 66,313 residents living within a 10-mile radius of the site.
Visibility to the property is increased by the site’s location immediately near the on and off ramp of Interstate 85 (43,400 AADT). The site is strategically located between two major cities, Atlanta and Charlotte along Interstate 85. The location benefits from its proximity to the North and South Carolina Border and is located 40 miles from downtown Charlotte, a major city and commercial hub in North Carolina. Charlotte is the most populous city in North Carolina with a population of 874,579.