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7/11 | SPEEDWAY – NEW CASTLE, IN 1816 S Memorial Dr 2,325 SF Retail Building New Castle, IN 47362 $3,256,000 ($1,400.43/SF) 5.25% Cap Rate
Investment Highlights
- BRAND NEW 20-YEAR ABSOLUTE NNN LEASE: 14+ years remaining on new 15-year Absolute NNN lease with attractive 10% rental escalation 1/1/36!
- ACCELERATED/BONUS DEPRECIATION: The property may qualify for 100% Bonus Depreciation (Conveying both building and land)
- 2026 DEMOGRAPHICS: Total Population (5MI): 27,476 | Average Household Income (1MI): $83,422
- CORP GUARANTEED LEASE: 7-Eleven, Inc., the Irving, Texas-based C-Store chain operates (DBA. Speedway), investment grade rated A- (S&P)!
- STRONG HISTORICAL OCCUPANCY/TRAFFIC COUNTS: Successfully open and operating for decades with excellent drive-by visibility/access!
- ABSOLUTE NNN LEASE - Conveying both building and land with ZERO management responsibilities! Great for passive investor!
Executive Summary
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- Dec 2040
Speedway is a U.S.-based convenience store and fuel station chain founded in 1952. Headquartered in Irving, Texas, the company operates thousands of locations across 34 states, offering gasoline, diesel, and a wide range of convenience products. Originally part of Marathon Petroleum, Speedway was acquired by Seven & I Holdings, the parent company of 7-Eleven, in 2021. The brand is known for its Speedy Rewards loyalty program and services such as car washes and ATMs. Speedway ranks among the largest convenience store chains in the country, focusing on high-volume self-service stations and integrated retail operations.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Dec 2040 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 33-12-22-110-116.000-016 | Improvements Assessment | $425,200 |
| Land Assessment | $172,800 | Total Assessment | $598,000 |
Property Taxes
Contact the Sale Advisor
7/11 | SPEEDWAY – NEW CASTLE, IN | 1816 S Memorial Dr