36945 Mound Rd
Sterling Heights, MI 48310
7-Eleven · Retail Property For Sale

The subject property is a single tenant 7-Eleven ground lease located in Sterling Heights, MI. The tenant, 7-Eleven, Inc., signed a new 10-year lease extension commencing in December of 2017. The lease is NNN, with no landlord obligations. The original lease commenced in 1997. The lease has a base term increase of 7.41% in lease year six (see rent roll), and provides for additional increases in the option periods. The tenant currently has two additional 5-year option periods to renew. The tenant, 7-Eleven, Inc. operates over 56,000 stores in 18 countries and currently has an S&P Credit Rating of AA-. The subject property provides an investor with a stable long-term, management-free income stream backed by one of the world' s largest retailer/ c-store operators. The property is located at the SWC of Mound Rd and 16 Mile at a signalized intersection in Sterling Heights, MI. Mound Road has four lanes running north and four lanes running south. 16 Mile has three lanes in both directions. Directly across the street on the far corner is a McDonald's adjacent to a Chase Bank. McDonald's originally wanted the subject property site due to it's easier ingress and egress for the South flowing traffic pattern but 7-Eleven had already taken the site. Several other national retailers and major national corporations are in the direct vicinity (see Aerial map). The average household income within 1 mile of the property exceeds $71,000, far above the US average. Sterling Heights is a city in Macomb County, one of Detroit's core suburbs. As of the 2010 census, the city had a total population of 129,699. It is the second largest suburb in Metro Detroit, and the fourth largest city in Michigan.