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7-Eleven, Mount Juliet , TN

7-Eleven

Mt. Juliet, TN

Price $8,068,000
Cap Rate 4.15%
NOI $334,807
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 7.5% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 5,464 SF
Lot Size 2.83 Acres (123,274 SF)
Status Available
Lead Broker Information 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

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

Russell Train
Brokerage
202.210.2379
russell.train@cushwake.com
CA RE License #02087816

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE TO ICONIC CORPORATE TENANT
» New 15-year absolute NNN lease to an iconic corporate tenant with four (4) five (5) year options
» Store is open
» 7.5% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor
» 7-Eleven is the largest convenience retail chain in the world, with 77,000+ stores worldwide
» 7-Eleven, Inc. is an investment grade tenant with an “A” rating from Standard & Poor’s

VERY LITTLE COMPETITION SERVING THOUSANDS OF COMMERCIAL TRUCKS AND PASSENGER VEHICLES
» Access to 13,745 vehicles per day along Golden Bear Gateway
» Only convenience store serving a just opened 3.6 million-square-foot Amazon Fulfillment Center with 3,000 employees (four minutes away)
» Across street from a 330,000-square-foot FEDEX packaging center and surrounded by major area employers, with access to over 5,000 local employees
» Dell, Under Armour, Medline Inc., Ceva Logistics, KHS America, and Hollister Inc all have major distribution centers immediately surrounding the site
» Adjacent to the under-construction Legacy Pointe – 85-acre mixed use development with 600,0000 SF of Class-A office and 100,000 SF of retail
» Minutes from Providence Marketplace Mall (66+ stores) and Graves Crossing Mall with nearby tenants such as Walmart Supercenter, Target, and Hobby Lobby

RAPIDLY GROWING AFFLUENT NASHVILLE SUBURB
» Strong daytime population with 51,604 residents (an 84% growth since 2010) with an average annual household income of $124,640 within a five-mile radius
» High-income community with the average annual household income exceeding 111k within one-, three-, and five-mile radii (projected to increase 15 percent by 2027)
» 13.7 miles from Nashville International Airport and 20.6 miles from Nashville (population of 689,447), the state capital and most populous city in Tennessee
» Mt. Juliet is one of the top six fastest-growing cities in Tennessee
» Wilson County is one of the state’s top five most affluent counties and has the second-highest median household income in Tennessee

HIGH-QUALITY 2022 CONSTRUCTION IN A TAX-FREE STATE
» High-quality 2022 construction built to the latest 7-Eleven prototype with three (3) high speed diesel truck pumps and 16 gas pumps
» Location features large-format convenience store with Raise the Roost Restaurant and Laredo Taco (both of 7-Eleven’s QSR concepts), for added customer convenience
» Large 2.83-acre lot with five (5) dedicated truck parking stalls
» Tennessee has no state income tax, estate tax, or inheritance tax


Property Description

7-Eleven is located along Golden Bear Gateway (13,745 AADT) with a second access point on Rutland Drive. The property is strategically located in a highly traveled retail/industrial corridor near truck parking depots and rest areas with access to an additional 127,435 vehicles per day along Interstate 40. The site is across from a 330,000-square-foot FedEx packaging center and maintains beneficial proximity to major area employers with access to over 5,000 local employees. The property is minutes from Providence Marketplace Mall (66+ stores) and Graves Crossing Mall with nearby tenants such as Walmart Supercenter, Target, Hobby Lobby, Publix Super Market at Providence Commons, Kroger, Lowe’s Home Improvement, and numerous others. The site is situated less than five miles from many major hotels with over 500 guestrooms, providing a nearby, regular customer base.

The location has a daytime population of 51,604 residents (an 84% growth since 2010) with an average annual household income of $124,640 within five-miles. The average annual household income exceeds 111k within a one-, three-, and five-mile radius and is projected to increase 15 percent by 2027, poising 7-Eleven and Mt. Juliet for concurrent growth. The site is 13.7 miles from Nashville International Airport and 20.6 miles from Nashville (population of 689,447), the state capital and most populous city in Tennessee. Mt. Juliet is a high-income suburb of Nashville and one of the top six fastest-growing cities in Tennessee. The site is well-positioned in Wilson County, one of the state’s top five most affluent counties, and has the second-highest median house-hold income in Tennessee.

Contact Us About This Property


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