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7-Eleven, Houston (Antoine Drive), TX

7-Eleven

Houston, TX

Price $7,250,000
Cap Rate 4.10%
NOI $297,246
Lease Term 15 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 7.5% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 3,299 SF
Lot Size 0.62 Acres (26,897 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

NEW 15-YEAR ABSOLUTE NNN LEASE
» 7-Eleven, Inc. is an investment grade tenant with a “A” rating from Standard & Poor’s
» New 15-year absolute NNN lease to iconic corporate tenant
» 7.5% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor

HIGH-TRAFFIC INFILL LOCATION WITH AFFLUENT DEMOGRAPHICS
» Population of 395,683 within a five-mile radius, creating a large customer base for the site
» Extremely affluent region with an average annual household income of $133,330 within five miles of the location
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years, poising 7-Eleven and Houston for steady concurrent growth
» Prominent location at the signalized hard corner of Antoine Drive and Long Point Road (35,515 AADT)
» Proximity to major Texas thoroughfares, including Interstate 610, U.S. Route 290, and Interstate 10 (combined 681,508 AADT)

CENTRAL LOCATION NEAR LARGE HOUSTON EMPLOYERS AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, IKEA, Costco, The Home Depot, Kroger, and many more
» Beneficial proximity to several Houston attractions and community hubs, including Memorial Park (four million annual visitors), Speedy’s Fast Track, and Bear Creek Pioneers Park
» Surrounded by high-density, single family housing developments and large townhouse complexes
» Minutes from Downtown Houston, the fourth-most populous city in the U.S. (population 2,320,268)

NEW 2022 CONSTRUCTION IN A TAX-FREE STATE
» New 2022 construction built to latest 7-Eleven prototype, featuring three fuel pumps, a freestanding convenience store, and a Laredo Taco (7-Eleven’s QSR concept)
» Building layout specifically designed for subject property
» 7-Eleven is the largest convenience retail chain in the world, with more than 77,000 stores worldwide
» Texas has no state income tax


Property Description

This 7-Eleven is located at the signalized hard corner of Antoine Drive and Long Point Road (35,515 AADT). The site maintains beneficial proximity to major Texas thoroughfares, including Interstate 610, U.S. Route 290, and Interstate 10 (combined 681,508 AADT). The site is located in a densely populated community, with 395,683 residents living within a five-mile radius of the property, creating a large and consistent customer base for the site. The property also resides in an affluent area, with an average annual household income of $133,330 within five miles. This 7-Eleven is poised for growth as well, with projected population and income increase within 1-, 3-, and 5-mile radii over the next five years.

Visibility to the property is increased by the site’s centralized location near large employers and community hubs. The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, IKEA, Costco, The Home Depot, Kroger, and many more. The location features a beneficial proximity to several Houston attractions and community hubs, including Memorial Park (four million annual visitors), Speedy’s Fast Track, and Bear Creek Pioneers Park. The property also greatly benefits from its strategic location immediately surrounded by high-density, singles family housing developments and large townhouse complexes. Additionally, the property is minutes from Downtown Houston, the fourth-most populous city in the U.S. (population 2,320,268).

Contact Us About This Property

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