Address: 101 State Highway 31 W, Chandler, Texas, United States 75758
Type: Gas & Conv. Store
Cap Rate: 4.90%
Lease Type: Absolute Triple-Net (NNN)
Annual Rent: $240,000
Net Operating Income: $240,000
Lease Term Remaining: 15 Years
Rental Increases: 7.5% Every Five (5)-Years
Options: Three (3), Five (5) Year Option Periods
Rentable Sq/Ft: 8,500 SF
Rent Sq/Ft: $28.24
Price Sq/Ft: $576
Lot Size: +/- 1.65 Acres
Marcus & Millichap is pleased to present the exclusive listing for a 7-Eleven located at 101 State Hwy 31 W, Chandler, TX 75758. The property consists of roughly 8,500 rentable square feet of building space on an estimated 1.65-acre parcel of land.
7-Eleven is subject to a brand new 15-Year Absolute Triple-Net (NNN) lease. The initial rent is $240,000 annually with 7.5% increases every 5 years. There are three (3), five (5)-year tenant renewal options, extending the total possible lease term to 30 years.
This 7-Eleven investment property is located at 101 State Highway 31 W on a hard corner of a signalized intersection. State Highway 31 boasts average daily traffic counts exceeding 22,300 vehicles. State Highway 31 intersects with Broad Street which brings an average additional 9,760 vehicles into the immediate area per day. The subject property benefits from being located in a heavily populated area with more than 68,830 individuals within a ten-mile radius.
The subject property benefits from being well-positioned in an urban infill consisting of national and local tenants. Major national tenants include: Family Dollar, Dollar General, Brookshire’s, Sonic, Taco Bell, Subway, as well as many more. The subject property benefits from its close proximity to several academic institutions. Most notable is Tyler Junior College, located less than 15 miles away, with a total enrollment exceeding 11,000 students. The subject property benefits from being located 12 miles from CHRISTUS Mother Frances Hospital, a 402-bed hospital general medical and surgical facility. Additionally the subject property benefits from sharing a building with Whataburger to drive traffic to the site.
Chandler is a city in Henderson County, Texas. Chandler is strategically located to benefit from not only its own business and tourism, but from the tourism and commerce from surrounding areas. The Army National Guard has built a new training facility on 49 acres about seven miles east of Chandler in Smith County. The training personnel will require lodging, food, supplies and other goods. With its close proximity to Chandler, businesses stand to benefit greatly from this new training facility. In addition, the East Texas State Fair Association has purchased 240 acres to be developed as The Park of East Texas. The Park is less than eight miles from Chandler. This park will hold an equestrian center, an amphitheater, indoor arena, event center, and other entertainment facilities. Eventually the site may include the building of a hotel and boardwalk. The Park of East Texas will be the new home to a larger East Texas State Fair. When completed, this Park will boost the economy in and around Chandler. The city of Canton is 30 miles from Chandler and hosts one of the world’s largest flea markets each month. Anywhere from 100,000 to 400,000 people attend monthly. Additionally, Chandler is just 10-miles from Tyler, Texas, which has a population over a quarter million people.
B.O.R Timothy Speck License: 432723