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7-Eleven, High Point, NC

7-Eleven

Price $5,895,000
Cap Rate 4.75%
NOI $280,000
Lease Term 15 Years
Lease Type Absolute 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 2020
Building Size ±3,500
Lot Size 1.66 Acres (72,310 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
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
» 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

IRREPLACEABLE LOCATION IN NEW 65-ACRE MIXED-USE DEVELOPMENT
» Irreplaceable location at the signalized four-way intersection of Wrenn Farm Drive and Greensboro Road (16,000 AADT)
» Located in Wrenn Farm Village, a brand new 65-acre mixed-use development, which will feature 103 single-family lots, 87 townhome lots, and 10 acres of retail development
» Property is the first 7-Eleven location in High Point and third in the Piedmont Triad
» Convenient access to Interstate 74, a major northwest-southeast U.S. thoroughfare that experiences a high traffic count of 47,000 vehicles per day

LOCATED IN A POPULATED AND GROWING CORRIDOR
» Beneficial proximity to major High Point employers, including High Point Regional Hospital (351 beds, 2,600 employees) and Ralph Lauren Corp. (2,042 employees)
» Three miles from High Point University (4,951 students, 1,105 employees), significantly increasing traffic to the location
» Surrounded by multiple recreational attractions drawing significant tourism including High Point Lake, the World’s Largest Chest of Drawers, and Wet ’n Wild Emerald Pointe Water Park (400,000+ annual visitors)

NEW 2020 CONSTRUCTION AND DRIVE-THRU CAR WASH
» Features eight fuel pumps, a freestanding C-Store, and a drive-thru car wash



Property Description

The property has an irreplaceable location at the signalized four-way intersection of Wrenn Farm Drive and Greensboro Road, which experiences a significant traffic count of 16,000 vehicles per day. The location is strategically placed within Wrenn Farm Village, a new 65-acre mixed-use center zoned for both residential and retail development. Wrenn Farm Village will feature 103 single-family lots, 87 townhome lots, and 10 acres of retail development. The site is the first 7-Eleven location in High Point and third in the Piedmont Triad. The location also maintains convenient access to Interstate 74, a major northwest-southeast U.S. thoroughfare that experiences a high-traffic count of 47,000 vehicles per day.

Visibility to the property is increased by the site’s centralized location in a densely populated and growing retail corridor. 124,027 residents live within a five-mile radius of the location, establishing a large regular customer base for the site. The property maintains a beneficial proximity to major High Point employers including High Point Regional Hospital (351 beds, 2,600 employees) and Ralph Lauren Corp. (2,042 employees). The site is also three miles from High Point University (4,951 students, 1,105 employees), significantly increasing traffic to the location. The location is surrounded by multiple recreational attractions that draw significant local tourism including High Point Lake, the World’s Largest Chest of Drawers, and Wet ’n Wild Emerald Pointe Water Park (400,000+ annual visitors). The property is primed to grow along with the surrounding area, with a projected 15 percent average annual household income increase within five miles of Wrenn Farm Village in the next five years.

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