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7-Eleven, Houston (Spencer Highway), TX

7-Eleven

Houston, TX

Price $7,374,000
Cap Rate 4.90%
NOI $361,279
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2023
Building Size 4,754 SF
Lot Size 1.4071 Acres (61,294 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

15-YEAR ABSOLUTE NNN LEASE TO THE LARGEST CONVENIENCE RETAIL CHAIN IN THE WORLD
» 7-Eleven, Inc. is an investment grade tenant with an “A” rating from Standard & Poor’s
» 7-Eleven is the largest convenience retail chain in the world, with more than 78,000 stores worldwide
» New 15-year absolute NNN lease to an iconic corporate tenant
» 10% rental increases every five years
» No landlord management, ideal for an out-of-area investor

TROPHY LOCATION AT THE CONFLUENCE OF MAJOR HOUSTON THOROUGHFARES
» Conveniently located at the signalized four-way intersection of Spencer Highway and South Allen-Genoa Road (combined 50,474 AADT)
» Centrally located between State Route 225, Sam Houston Tollway, and Interstate 45, allowing the site to capture immense amounts of commuter traffic (combined 450,335 AADT)
» Surrounded by notable national tenants such as Walmart Supercenter, Sam’s Club, Target, The Home Depot, Kroger, H-E-B, Chick-fil-A, McDonald’s, and many more
» 2.5 miles from HCA Houston Healthcare Southeast (345 beds, 1,750 employees)
» Located near multiple Texas community hubs, including The Lone Star Flight Museum and Trinity Bay

DENSELY POPULATED AND GROWING AREA WITH EXCELLENT TEXAS DEMOGRAPHICS
» 315,745 residents live within five miles of the property
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise 7-Eleven and Houston for steady concurrent growth
» 14 miles from Downtown Houston (the fourth-most populous city in the U.S. with over 2.3 million residents)
» Four miles from William P. Hobby Airport, the first airport in North America to earn a 5-star international rating in the Skytrax World Airport Star Rating for 2022

2023 BUILD-TO-SUIT CONSTRUCTION IN A TAX-FREE STATE
» High-quality 2023 build-to-suit construction featuring six (6) gas pumps and a freestanding convenience store, providing additional customer convenience and boosting sales revenue
» Texas is an income tax-free state


Property Description

» This 7-Eleven is conveniently located at the signalized four-way intersection of Spencer Highway and South Allen-Genoa Road (combined 50,474 AADT)
» The property is ideally located between State Route 225, Sam Houston Tollway, and Interstate 45, allowing the site to capture immense amounts of commuter traffic (combined 450,335 AADT)
» Set in a growing retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Sam’s Club, Target, The Home Depot, Kroger, H-E-B, Chick-fil-A, McDonald’s, and many more, creating significant crossover shopping
» The site greatly benefits from its proximity 2.5 miles from HCA Houston Healthcare Southeast (345 beds, 1,750 employees) and four miles from William P. Hobby Airport, the first airport in North America to earn a 5-star international rating in the Skytrax World Airport Star Rating for 2022
» 315,745 residents live within a five-mile radius of the site, providing an extremely large and reliable customer base
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise 7-Eleven and Houston for steady concurrent growth

Contact Us About This Property

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