Investment Offering
Canton, TX - 7-Eleven
17200 I-20 | Canton, TX 75103
$4,244,000
Price6.35%
Cap Rate$269,510
NOIDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding 7-Eleven investment property located in Canton, Texas. The tenant has 12+ years remaining on its current lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 7.5% rental increases every 5 years throughout the initial term, and 4% increases every 3 years during the extension terms, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor in an income tax free state. 7-Eleven operates, franchises and/or licenses more than 14,000 stores in the U.S. and Canada.
Location
7-Eleven is located at the signalized, hard corner intersection of State Highway 19 and Interstate 20 which serves over 56,000 vehicles per day. Furthermore, the site benefits from nearby access to State Highway 243 (11,000 VPD) and State Highway 64 (10,000 VPD), making this an ideal, centralized location with easy commutes. Located in a dense retail corridor, the asset is within close proximity of multiple national/credit tenants including Walmart Supercenter, Tractor Supply, CVS, Dollar Tree, Goodwill, AutoZone, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. The asset benefits from excellent visibility via a large pylon sign along Interstate 20 (42,500 VPD). The 5-mile subject trade area is supported by more than 10,000 residents and 5,000 daytime employees. Residents within a 1-mile radius boast a stable average household income of more than $93,000.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215