Marcus & Millichap is pleased to present the exclusive listing for a 7-Eleven located at 534 East Garland Street, Grand Saline, TX 75140. The property consists of roughly 2,000 rentable square feet of building space on an estimated 0.79-acre parcel of land.
7-Eleven is subject to a brand new 15-year Absolute Triple-Net (NNN). The initial rent is $190,000 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.
About the Investment:
✓ New 15-Year Absolute Triple-Net (NNN) Lease
✓ Three (3), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 30 Years
✓ 7.5% Rental Increases Every Five (5) Years
✓ Investment Grade Credit: 7-Eleven Corporate (S&P: AA-)
✓ Fee Simple – Eligible for Bonus Depreciation
About the Location:
✓ Located in an Urban Infill| Family Dollar, Dollar General, Brookshire’s, Sonic Drive-In, and Many More
✓ Excellent Attractions | Splash Kingdom Waterpark & East Texas Zoo & Gator Park Located Less Than 15 Miles Away
✓ Features High Visibility and Ease of Access| Positioned on E Garland Street
✓ Strong Traffic Counts | E Garland Street & Farm To Market 857 | Average 7,900 and 1,250 Vehicles Per Day, Respectively
About the Tenant/Brand:
✓ 7E TX, LLC – One of Seven 7-Eleven Portfolio Partners in the U.S.
✓ 7-Eleven is the Largest Convenience Store Chain in the World | 60,000 Stores in 18 Countries
✓ 10,700 Stores in North America
✓ Committed to Meeting the Needs of All Guests by Providing a Broad Selection of Fresh, High-Quality Products and Services at Everyday Fair Prices
✓ Essential Business – Rent Paid in Full at Every Location Throughout Covid-19 Pandemic