7-Eleven,
Corpus Christi, TX Investment Summary
| Price | $2,520,000 |
| Cap Rate | |
| NOI | $125,987 |
| Lease Term | 10 Years |
| Lease Type | Absolute NNN Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 7.5% Rental Increases In Option Periods |
| Year Built | CALL FOR DETAILS |
| Building Size | 2,406 SF |
| Lot Size | .526 Acres (22,932 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 Executive 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
ABSOLUTE NNN LEASE TO ICONIC CORPORATE TENANT
» 7-Eleven is the largest convenience retail chain in the world, with more than 67,000 stores worldwide
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» 7.5% rental increases in option periods, providing a hedge against inflation
» Absolute NNN lease with four (4) five (5) year options
» No landlord management, ideal for an out-of-area investor
» Features four (4) fuel pumps and a freestanding convenience store
» Texas is an income tax free state
HIGH-VISIBILITY LOCATION SURROUNDED BY LARGE EMPLOYERS, RETALERS, AND COMMUNITY HUBS
» High-visibility location along Waldron Road (14,718 AADT)
» Surrounded by a strong mix of local and national retailers, including H-E-B plus!, Walmart
Supercenter, Dollar Tree, McDonald’s, Pizza Hut, Taco Bell, Whataburger, and many more
» Beneficial proximity to highly attended Corpus Christi Schools, including Flour Bluff Elementary School and Flour Bluff Intermediate School, which are within walking distance (combined 1,651 students)
» 4.5 miles from Naval Air Station Corpus Christi, drawing significant area traffic (2,836 active duty members)
» 14 miles from Downtown Corpus Christi
LOCATED IN A POPULOUS, AFFLUENT, AND GROWING RETAIL CORRIDOR
» Beneficial proximity to State Route 358/John F. Kennedy Memorial Causeway (64,652 AADT), greatly increasing visibility to the site
» Average annual household income of $83,858 within five miles of the location
» Population of 62,036 within a five-mile radius of the location, creating a large customer base for the site
» Projected 12 percent average annual household income increase within a one-mile radius of the site in the next five years, poising 7-Eleven and Corpus Christi for concurrent growth
Property Description
SOLD
The property is surrounded by a strong mix of local and national retailers, including H-E-B plus!, Walmart Supercenter, Dollar Tree, McDonald’s, Pizza Hut, Taco Bell, Whataburger, and many more. The site is within walking distance to highly attended Corpus Christi Schools, including Flour Bluff Elementary School and Flour Bluff Intermediate School (combined 1,651 students). The location is also just 4.5 miles from Naval Air Station Corpus Christi, drawing significant area traffic (2,836 active duty members).
Visibility to the property is increased by the site’s centralized location in a densely populated, affluent, and growing retail corridor. The site has a high-visibility location along Waldron Road (14,718 AADT). The site also maintains a beneficial proximity to State Route 358/John F. Kennedy Memorial Causeway (64,652), greatly increasing visibility to the site. 62,036 residents live within a five-mile radius of the location, establishing a large regular customer base for the site. The property resides in an affluent area as well, with an average annual household income of $83,858 within five miles of the location. The property is primed to grow along with the surrounding area, with a projected 12 percent average annual household income increase within one mile of the site in the next five years.
