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7-Eleven

Grand Saline, Texas

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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

Key Details

Price:
$3,877,551
Cap Rate:
4.90%
Annual Rent:
$190,000
Address:
534 East Garland Street, Grand Saline, Texas 75140
Property Type:
Net-Leased Convenience Store / Gas Station
Lease Type:
Triple-Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
June 15, 2020
Lease Expiration:
July 1, 2035
Lease Term Remaining:
14+ Years
Rental Increases:
7.5% Every Five (5)-Years
Lot Size:
+/- 0.79 Acres
Building Size:
2,000 SF
Tenant:
7-Eleven

Broker of record

Tim Speck

License: 432723


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