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7-Eleven / Speedway 206 N Main St 1,322 SF Retail Building Kenansville, NC 28349 $2,600,000 ($1,966.72/SF) 5% Cap Rate
Executive Summary
Single-tenant 7-Eleven / Speedway convenience store and fuel station located at 206 N Main Street in Kenansville, North Carolina. The property is leased to Speedway LLC on an absolute NNN lease with more than 14 years remaining and 10% rent increases every five years. The tenant is responsible for taxes, insurance, maintenance, roof, structure, and utilities, providing a passive ownership opportunity.
Positioned along North Main Street, the primary commercial corridor through Kenansville, the property serves the surrounding Duplin County trade area and benefits from proximity to the county courthouse, local businesses, and community services. Speedway operates under 7-Eleven, Inc., one of the largest convenience retail operators in the world, supporting the property's long-term tenancy and income stream.
Positioned along North Main Street, the primary commercial corridor through Kenansville, the property serves the surrounding Duplin County trade area and benefits from proximity to the county courthouse, local businesses, and community services. Speedway operates under 7-Eleven, Inc., one of the largest convenience retail operators in the world, supporting the property's long-term tenancy and income stream.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,322 SF
Building Class
C
Year Built/Renovated
1993/2022
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
0.52 AC
Frontage
219’ on North Carolina 903
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
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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