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3201 S Padre Island Dr
Corpus Christi, TX 78415
7-Eleven | 6yrs Remaining Corp Abs NNN · Retail Property For Sale
Investment Highlights
- Over 6 Years Remaining | Corporate Signed | 10% Rental Increases | Investment Grade Tenant (S&P: A) | Branded as Stripes
- Signalized, Hard Corner Intersection | SH-358 (143,000 VPD) | Near SH-358/SH-286 Interchange | Excellent Visibility & Access
- Strong Demographics in 5-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Dense Retail Corridor | Strong National/Credit Tenant Presence
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, investment grade (S&P: A), 7-Eleven investment property located in Corpus Christi, Texas. The tenant, 7-Eleven, Inc., has over 6 years remaining on their lease term with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The site features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is corporate signed by 7-Eleven, Inc. (S&P: A) and is an absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The property is currently being branded as a Stripes Convenience Store, but is secured and operated by 7-Eleven, Inc.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,946 SF
Building Class
C
Year Built
1987
Price
$2,836,000
Price Per SF
$962.66
Cap Rate
5.50%
NOI
$156,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.52 AC
Zoning
Commercial
Parking
8 Spaces (2.72 Spaces per 1,000 SF Leased)
Frontage
150’ on PADRE ISLAND DR
Amenities
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Signage
- Signalized Intersection
Property Taxes
| Parcel Number | 198793 | Improvements Assessment | $347,423 |
| Land Assessment | $269,940 | Total Assessment | $617,363 |
Property Taxes
Parcel Number
198793
Land Assessment
$269,940
Improvements Assessment
$347,423
Total Assessment
$617,363
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