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7-Eleven / Speedway 370 Nc Highway 43 3,107 SF Retail Building Vanceboro, NC 28586 $3,200,000 ($1,029.93/SF) 5% Cap Rate
Executive Summary
Recently renewed, 15-year absolute net lease featuring 10% rental increases every 5 years throughout the base term and options. The tenant is a wholly owned subsidiary of 7-Eleven, Inc. – ranked #162 on the Fortune Global 500 list and features an investment-grade credit rating of “A” from the S&P.
The subject property is strategically located along NC Highway 43, a primary regional thoroughfare serving Vanceboro and connecting the community to the broader Craven County trade area. The location offers convenient highway access and strong exposure to local and through traffic, supporting its appeal as a well-positioned retail and service-oriented asset.
The subject property is strategically located along NC Highway 43, a primary regional thoroughfare serving Vanceboro and connecting the community to the broader Craven County trade area. The location offers convenient highway access and strong exposure to local and through traffic, supporting its appeal as a well-positioned retail and service-oriented asset.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,107 SF
Building Class
C
Year Built/Renovated
2008/2022
Price
$3,200,000
Price Per SF
$1,029.93
Cap Rate
5%
NOI
$160,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.59 AC
Somewhat walkable
30/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 1-045-13001 | Improvements Assessment | $758,600 |
| Land Assessment | $155,030 | Total Assessment | $913,630 |
Property Taxes
Parcel Number
1-045-13001
Land Assessment
$155,030
Improvements Assessment
$758,600
Total Assessment
$913,630
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