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Moyock, NC - 7-Eleven
271 Caratoke Highway | Moyock, NC 27958
$6,770,000
Price4.95%
Cap Rate$335,106
NOI2023
Year Built100%
Occupancy4,650
± SF Offering GLA2.95
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade (S&P: AA-), newly built 7-Eleven investment property located in Moyock, NC. The tenant recently signed a brand new 15-year lease with 3 (5-year) option periods, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is guaranteed by 7-Eleven (S&P: AA-) and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1927, 7-Eleven is the premier name and largest chain in the convenience-retailing industry with over 81,000 locations around the world. The asset, which is scheduled to open in March 2023, will feature a state-of-the-art construction, a 4,650 SF convenience store, and an estimated 18 fueling stations.
Location
7-Eleven is strategically located along Caratoke Highway with clear visibility and access to an average of 23,500 vehicles passing by daily. Caratoke Highway travels directly through the Moyock retail corridor, making this an ideal and centralized location with easy commutes. The surrounding national/credit tenants include Tractor Supply Co., NAPA Auto Parts, Food Lion, O’Reilly Auto Parts, Dollar General, among many others. The strong national and regional tenant presence drives a steady stream of loyal, local consumers from the Moyock submarket and promotes crossover store exposure for the site. The asset is within proximity to numerous single-family communities, providing a direct residential consumer base. The 5-mile trade area is supported by over 11,600 residents and 2,700 daytime employees. Residents within one mile of the site boast an affluent average household income of $120,530.
Documents & Links
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 Offering Memorandum |  |  |