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7-Eleven, Houston, TX

7-Eleven

TX, USA

Price $8,410,000
Cap Rate 4.25%
NOI $357,400
Lease Term 15 Years
Lease Type Absolute NNN, 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 2021
Building Size 4,088 SF
Lot Size 1.96 Acres (85,378 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
» New 15-year corporate guaranteed absolute NNN lease with four (4) five (5) year options
» 7.5% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor

HIGH VISIBILITY LOCATION IN AN EXTREMELY AFFLUENT, AND GROWING RETAIL AREA
» Conveniently located within Woodforest, a growing commercial district
» Woodforest master plan has 1,316 homes, 6,000 total lots, and approximately 90 acres dedicated to commercial development, featuring preschools, restaurants, medical offices,
fitness facilities, salons, a gas station, pharmacy, and more
» High-visibility location along Fish Creek Thoroughfare (14,649 AADT)
» Located near the Ridgelake Shores housing development (447 single-family properties)
» Average annual household income of $174,772 within one mile of the location
» Projected 10 percent average annual household income increase within a five-mile radius of the site in the next five years, poising 7-Eleven and Houston for concurrent growth

CENTRAL LOCATION NEAR LARGE SCHOOLS, EMPLOYERS, AND RETAILERS
» Less than one mile from Stewart Elementary School (780 students), increasing traffic to the site
» Walking distance to the Pine Market, the village center of Woodforest (40-acre social destination) anchored by Harvest Market

NEW 2021 CONSTRUCTION IN A TAX-FREE STATE
» New 2021 construction built to latest 7-Eleven prototype, featuring eight fuel pumps and a freestanding C-Store
» 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
» Located in the Houston MSA, the fourth-most populous city in the U.S.



Property Description

The property is conveniently located within Woodforest, a 90-acre master-planned commercial development. Woodforest features preschools, restaurants, medical offices, fitness facilities, salons, a gas station, pharmacy, and more. Pine Market is the village center of Woodforest, a 40-acre social destination that is anchored by Harvest Market, which will offer walkable streets of boutiques, storefronts, and restaurants. The Pine Market Village Green will be a community park with space for art festivals, farmers’ markets, and other planned activities. The site is surrounded by single-family developments including the Ridgelake Shores housing development (447 single-family properties). It is also within walking distance to Stewart Elementary School (780 students), establishing a regular customer base for the site.

Visibility to the property is increased by the site’s centralized location in an extremely affluent and growing retail corridor. The site is located along Fish Creek Thoroughfare (14,649 AADT), with 49,924 residents living within a five-mile radius of the location. The property resides in a robustly affluent area, with an average annual household income of $174,772 within one mile of the location. The property is primed to grow along with the surrounding area, with a projected 10 percent average annual household income increase within five miles 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 U.S. (population 2,320,268).

Contact Us About This Property

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