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Speedway 1000 Union St 2,340 SF Retail Building Morganton, NC 28655 $1,174,500 ($501.92/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate Guaranteed Lease | Scheduled Rental Increases | Approximately 4 Years Remaining
- Across From Ollie’s Bargain & Planet Fitness Center | Nearby National/Credit Tenants
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
• Lease is backed by Speedway’s corporately entity, providing a stable and secure investment
• 7-Eleven, Inc. completed its landmark acquisition of 3,800 Speedway stores in 2021, significantly expanding its U.S. presence
• Acquisition strengthened 7-Eleven’s position as the largest convenience retailer in North America, now operating 13,000+ locations
• Approximately 4 years remaining with 2 (5-year) option periods to extend
• The lease incorporates scheduled rent increases throughout the option periods, offering a dependable hedge against inflation and supporting consistent long-term NOI growth.
• 7-Eleven, Inc. completed its landmark acquisition of 3,800 Speedway stores in 2021, significantly expanding its U.S. presence
• Acquisition strengthened 7-Eleven’s position as the largest convenience retailer in North America, now operating 13,000+ locations
• Approximately 4 years remaining with 2 (5-year) option periods to extend
• The lease incorporates scheduled rent increases throughout the option periods, offering a dependable hedge against inflation and supporting consistent long-term NOI growth.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,340 SF
Building Class
C
Year Built
2009
Price
$1,174,500
Price Per SF
$501.92
Cap Rate
6.40%
NOI
$75,141
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.59 AC
Zoning
HID - High Intensity District
Parking
2 Spaces (0.85 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Pylon Sign
- Signalized Intersection
NEARBY MAJOR RETAILERS
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Speedway | 1000 Union St
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