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7-Eleven, Houston, TX

7-Eleven

Houston, TX

Price $7,671,000
Cap Rate 4.25%
NOI $326,000
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 10% Rental Increases Every Five (5) Years
Year Built 2021
Building Size 4,842 SF
Lot Size 1.90 Acres (82,764 SF)
Status Available
Lead Broker Information 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

NEW 15-YEAR ABSOLUTE NNN LEASE
» 7-Eleven, Inc. is an investment grade tenant with a “AA-” rating from Standard & Poor’s
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor
» New 2021 construction built to latest 7-Eleven prototype, featuring eight fuel pumps and a freestanding c-store
» New 15-year absolute NNN lease with five (5) five (5) year options
» 7-Eleven is the largest convenience retail chain in the world, with more than 67,000 stores worldwide
» Texas is an income tax free state

INFILL LOCATION IN NEW 58-ACRE MIXED-USE DEVELOPMENT
» High-visibility location near West Grand Parkway South (49,588 AADT)
» Located within Grand Center at Long Meadow Farms, a new 58-acre mixed-use development under construction
» Grand Center will have a 46,000-SF, two-story shopping center and feature retailers including Hampton Inn & Suites, Dunkin’, O’Reilly Auto Parts, Spring Creek Barbeque, Pet Suites, Service First, and more
» Grand Center is adjacent to a 180,000-SF Regal Cinema and a 165,000-SF Gallery Furniture showroom
» Surrounded by a strong mix of national and local retailers, including Kroger, Jack in the Box, McDonald’s, Wendy’s, Starbucks, Wells Fargo, Chase Bank, and many more

LOCATED IN A POPULOUS, AFFLUENT, AND GROWING RETAIL CORRIDOR
» 30.5 miles from Downtown Houston, the fourth-most populous city in the United States
» Average annual household income of $127,007 within five miles of the location
» Population of 188,873 within a five-mile radius of the location, creating a large customer base for the site
» Projected nine percent average annual household income increase within a one-mile radius of the site in the next five years, poising 7-Eleven and Houston for concurrent growth



Property Description

The property is located within the Grand Center at Long Meadow Farms, a new 58-acre mixed-use development currently under construction. Grand Center will have a 46,000-SF, two-story shopping center and will feature retailers including Hampton Inn & Suites, Dunkin’, O’Reilly Auto Parts, Spring Creek Barbeque, Pet Suites, Service First, and more. Grand Center is also strategically adjacent to a 180,000-SF Regal Cinema and a 165,000-SF Gallery Furniture showroom, drawing cross-shopping traffic directly to the site. The property is surrounded by a strong mix of national and local retailers as well, including Kroger, McDonald’s, Wendy’s, Starbucks, Jack in the Box, Wells Fargo, Chase Bank, and many more.

Visibility to the property is increased by the site’s centralized location in a densely populated, affluent, and growing retail corridor. The site is located near West Grand Parkway South (49,588 AADT), a high-traffic Texas thoroughfare. 188,873 residents live within a five-mile radius of the location, establishing a large regular customer base for the site. The property resides in a robustly affluent area, with an average annual household income of $127,007 within five miles of the location. The property is primed to grow along with the surrounding area, with a projected nine percent average annual household income increase within one mile of the site in the next five years. The location also benefits from its proximity to Downtown Houston, the fourth-most populous city in the United States (population 2,320,268).

Contact Us About This Property

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