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7-Eleven, Piedmont, SC

7-Eleven

Price $6,632,000
Cap Rate 4.75%
NOI $315,000
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 7.5% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 4,050 SF
Lot Size 7.45 Acres (324,522 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 WITH FIXED RENTAL INCREASES
» 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 67,000 stores worldwide
» New 15-year lease with four (4) five-year options, creating a stable, long-term investment with no landlord management, ideal for an out-of-area investor
» 7.5% rental increases every five years, providing a hedge against inflation

NEW 2020 CONSTRUCTION WITH COMMERCIAL TRUCKING FUEL AND PARKING COMPONENT
» Well designed site plan to accommodate both pedestrian vehicles and commercial trucks
» Features latest 7-Eleven convenience store and fuel pumps, eight gas and five high-speed diesel (high-speed diesel will include Trendar/Comdata Fleet Payment system)
» Commercial truck fuel component is estimated to increase fuel volumes by more than 50% (typical truck fill-up is approximately 150 gallons)
» New 2020 construction on a large parcel (7.45 acres)

HIGHLY STRATEGIC LOCATION ON INTERSTATE 85
» Located on Highway 153 (9,700 AADT), a major connector between Interstate 85 and Interstate 185
» Freeway visbility and immediate access to Interstate 85 (90,843 AADT), greatly increasing traffic to the location
» Overall commuter traffic within a five-mile radius of the location is 140,700 VPD
» Projected 16 percent AAHI increase within a three-mile radius of the site in the next five years, poising Piedmont and 7-Eleven for significant concurrent growth
» Located in the Greenville MSA, the third-largest MSA in the Carolinas
» Central location between major metropolitan hubs Charlotte and Atlanta
» Surrounded by a strong mix of local and national retailers including Walmart Supercenter, Burger King, Cracker Barrel, Arby’s, KFC, McDonald’s, Chick-fil-A, and more
» Within walking distance of four hotels, including Holiday Inn Express & Suites (78 rooms) and Comfort Suites (82 rooms)
» Greenville County welcomes approximately 5 million visitors annually and generates $1.3 billion in visitor revenue



Property Description

The property has a high-visibility infill location along Highway 153, which experiences a traffic count of 9,700 vehicles per day. The location is strategically placed along Highway 153 (9,700 AADT) between Interstate 85 and Interstate 185. It is immediately adjacent to and is visible from Interstate 85, a major northeastsouthwest U.S. thoroughfare, which experiences a high-traffic count of 90,843 vehicles per day. The site also benefits from its location in a populous area, with 69,001 residents living within five miles of the property, establishing a large regular customer base for the location. The property is primed to grow along with the surrounding area, with a projected 16 percent average annual household income increase within three miles of the site in the next five years. The site also serves as a common regional transit hub, as it is centrally located between the major metropolitan areas of Charlotte and Atlanta.

Visibility to the property is increased by the site’s centralized location near large employers, retailers, and community hubs. The location is surrounded by a strong mix of local and national retailers including Walmart Supercenter, Burger King, Cracker Barrel, Arby’s, KFC, McDonald’s, Chick-fil-A, and many more. The site is also within walking distance of four hotels, including Holiday Inn Express & Suites (78 rooms) and Comfort Suites (82 rooms), significantly increasing foot traffic to the location. The property is surrounded by multiple recreational attractions that draw significant local tourism, including Discovery Island, Lake Conestee Nature Preserve, and Falls Park on the Reedy. Greenville County welcomes approximately 5 million visitors annually and generates $1.3 billion in visitor revenue.

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