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7-ELEVEN / SPEEDWAY C-STORE & GAS | NNN 204 N Main St 1,322 SF Retail Building Kenansville, NC 28349 $2,600,000 ($1,966.72/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Absolute Net Leases Featuring Favorable Rental Increases Every 5 Years throughout the Initial Term and Options.
- Substantially Below Replacement Costs. Recession and Internet Resistant Resistant Retailer with Attractive Industry Dynamics.
- Prime Locations in Growing Southeast Metro Market. Most Sites are Situated in Hard Corner Locations - Feature Easy Access and Excellent Visibility.
- Strong Tenant - The Company is Ranked #162 on Fortune Global 500 List with a S&P Investment Grade Credit Rating of “A”.
- 100% Bonus Depreciation - Fee Simple Ownership of a Gas Station Provides Significant Tax Savings to the Landlord via Accelerated Bonus Depreciation.
- Current Rents are Below Market, Offering Future Upside Potential.
EXECUTIVE SUMMARY
7-Eleven / Speedway C-Store & Gas Station | Absolute Net Lease | Qualifies for 100% Bonus Depreciation | Below Replacement Cost | Below Market Rental Rate | Investment Grade | Favorable Rental Increases Every 5 Years | Internet Resistant and Recession-Proof Investment
North Carolina Broker of Record: Charles Gallagher | 201 S. Tryon St., Ste. 1220 Charlotte, NC 28202 | Lic. 351471 | P: (804) 802-6881 | Charles.Gallagher@MarcusMillichap.com
North Carolina Broker of Record: Charles Gallagher | 201 S. Tryon St., Ste. 1220 Charlotte, NC 28202 | Lic. 351471 | P: (804) 802-6881 | Charles.Gallagher@MarcusMillichap.com
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,322 SF
Year Built
1993
Price
$2,600,000
Price Per SF
$1,966.72
Cap Rate
5%
NOI
$130,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.53 AC
Frontage
219’ on North Carolina 903
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- 7-Eleven / Speedway
- Retailer
- 1,322 SF
- -
- Triple Net
- Feb 2041
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| 7-Eleven / Speedway | Retailer | 1,322 SF | - | Triple Net | Feb 2041 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 13-2171 | Improvements Assessment | $340,775 |
| Land Assessment | $402,900 | Total Assessment | $743,675 |
PROPERTY TAXES
Parcel Number
13-2171
Land Assessment
$402,900
Improvements Assessment
$340,775
Total Assessment
$743,675
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7-ELEVEN / SPEEDWAY C-STORE & GAS | NNN | 204 N Main St
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