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Actual Building
> Absolute NNN Corporate Lease - Zero Landlord
Obligations> Bite Size Deal – Low Price Point/Rent> Strong
Sales / Healthy Rent to Sales Ratio of 2.86%> Established
Location – 7-Eleven has Occupied this Site for Over 40 Years>
7-Eleven is Investment Grade S&P Rated AA-
Price $613,590 | 6.00% CAP | NOI $36,815
Manteo (Nags Head), NC
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Long time established Absolute NNN Corporate 7-Eleven C-Store
located in Manteo (Nags Head/Outer Banks), NorthCarolina for
$613,590 / 6% CAP. There are 3.9± yearsremaining on the absolute
NNN Lease with 11% rent increasesevery 5 years and 3 x 5 year
options to renew (CPI increases inthe Options).
7-Eleven has occupied this location for over 40 years and hasa
very healthy rent to sales ratio of only 2.86%.
There are zero landlord obligations and the sale includes
boththe building & the land (Landlord benefits from
depreciation).
The property is situated on 0.90 acres and located next to
aDollar General, McDonald’s and Dunkin Donuts. Otherimmediate
retailers include: CVS, ACE Hardware, Piggly Wiggly,Advance Auto
Parts, Wells Fargo, Pizza Hut and more.
7-Eleven is investment grade rated S&P AA- and is the
largestconvenience store operator in the world with more than69,000
stores in 17 countries, including 11,800 in NorthAmerica.
_________INVESTMENT SUMMARY___________________
PRICE $613,590
CAP RATE 6.00%
NOI $36,815
RENT TO SALES RATIO 2.86%
YEARS REMAINING 3.9± years
RENT INCREASES 11% Every 5 yrs & CPI Bumps in Options
OPTIONS 3 x 5 years
No warranty expressed or implied has been made as to the
accuracy of the information provided herein, no liability assumed
for error or omissions
TENANT 7-Eleven, Inc
GUARANTOR Corporate
LEASE TYPE Absolute NNN – Fee Simple
LANDLORD RESPONSIBILITIES None
LAND SIZE 0.90± AC / 39,291± SF
BUILDING SIZE 2,490± SF
YEAR BUILT / RENOVATED 1977 / 2011
RENT COMMENCEMENT 10/1/2008
LEASE EXPIRATION 9/30/2023
610 US Highway 64 Manteo, NC 27954
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_________TENANT PROFILE___________________________
No warranty expressed or implied has been made as to the
accuracy of the information provided herein, no liability assumed
for error or omissions
7-Eleven is the world’s #1 convenience store. It is the largest
operator, franchisor and
licensor of convenience stores in the world. Based in Irving,
Texas, 7 Eleven
operates, franchises and/or licenses more than 69,000 stores in
17 countries,
including 11,800 in North America. Known for its iconic brands
such as Slurpee®, Big
Bite® and Big Gulp®, 7 Eleven has expanded into high-quality
sandwiches, salads,
side dishes, cut fruit and protein boxes, as well as pizza,
chicken wings and mini beef
tacos.
7-Eleven Accolades:
• #1 on Convenience Store News’ Top 100 Convenience Store Chains
of 2019
• #1 on Entrepreneur Magazines 2017 Top Global Franchises
List
• Recognized by Victory Media as a Silver Level Military
Friendly Employer for 2017
• #5 on FranchiseRanking.com for Best Convenience Store
Franchises Company
USA in 2016
• #3 on Forbes magazine’s Top 20 Franchises to Start in 2016
• #1 on Entrepreneur magazine’s Franchise 500’s Top 10 Most
Popular Retail
Companies in 2016
• #3 on Fast Company’s “World’s Top 10 Most Innovative Companies
in Retail” in
2013
• 7-Eleven holds an “AA-‘ credit rating by S&P
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No warranty expressed or implied has been made as to the
accuracy of the information provided herein, no liability assumed
for error or omissions
_________AERIAL___________________________
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_________AERIAL___________________________
No warranty expressed or implied has been made as to the
accuracy of the information provided herein, no liability assumed
for error or omissions
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_________AERIAL___________________________
No warranty expressed or implied has been made as to the
accuracy of the information provided herein, no liability assumed
for error or omissions
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_________AERIAL___________________________
No warranty expressed or implied has been made as to the
accuracy of the information provided herein, no liability assumed
for error or omissions
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_________MARKET OVERVIEW______________________
Manteo, NC - The town of Manteo is located on Roanoke Island,
which is sandwiched in between the central Outer Banks beaches and
the eastern North
Carolina mainland. Manteo is about a 10 minute drive from the
Outer Banks beaches. Manteo has one of the highest concentrations
of attractions in the
Outer Banks. Downtown Manteo is located just a few blocks off
the main road of US Highway 64, is a destination in its own right,
and the small streets
that lead to the harbor are filled with gorgeous gardens,
manicured lawns, and charming bed and breakfasts.
The Outer Banks is rich in history, from the early explorers who
first set foot on its shores 400 years ago to the groundbreaking
first flight that launched
modern aviation. Every community has a story and a resonant
heritage, and as a result, the Outer Banks is home to a number of
locally and nationally
renowned museums honoring the area's unique stories, culture and
landmarks.
No warranty expressed or implied has been made as to the
accuracy of the information provided herein, no liability assumed
for error or omissions
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_________DEMOGRAPHICS__________________________
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Solid Investments hereby advises all prospective purchasers of
Net Leased property as follows:
The information contained in this Marketing Brochure has been
obtained from sources we believe to be reliable. However, Solid
Investmentshas not and will not verify any of this information, nor
has Solid Investments conducted any investigation regarding these
matters. SolidInvestments makes no guarantee, warranty or
representation whatsoever about the accuracy or completeness of any
information provided.
As the Buyer of a net leased property, it is the Buyer’s
responsibility to independently confirm the accuracy and
completeness of all materialinformation before completing any
purchase. This Marketing Brochure is not a substitute for your
thorough due diligence investigation of thisinvestment opportunity.
Solid Investments expressly denies any obligation to conduct a due
diligence examination of this Property for Buyer.
Any projections, opinions, assumptions or estimates used in this
Marketing Brochure are for example only and do not represent the
current orfuture performance of this property. The value of a net
leased property to you depends on factors that should be evaluated
by you and yourtax, financial and legal advisors.
Buyer and Buyer’s tax, financial, legal, and construction
advisors should conduct a careful, independent investigation of any
net leased propertyto determine to your satisfaction with the
suitability of the property for your needs.
Like all real estate investments, this investment carries
significant risks. Buyer and Buyer’s legal and financial advisors
must request andcarefully review all Legal and financial documents
related to the property and tenant. While the tenant’s past
performance at this or otherlocations is an important
consideration, it is not a guarantee of future success.
Similarly, the lease rate for some properties, including
newly-constructed facilities or newly-acquired locations, may be
set based on a tenant’sprojected sales with little or no record of
actual performance, or comparable rents for the area. Returns are
not guaranteed; the tenant andany guarantors may fail to pay the
lease rent or property taxes, or may fail to comply with other
material terms of the lease; cash flow may beinterrupted in part or
in whole due to market, economic, environmental or other
conditions. Regardless of tenant history and lease guarantees,Buyer
is responsible for conducting his/her own investigation of all
matters affecting the intrinsic value of the property and the value
of anylong-term lease, including the likelihood of locating a
replacement tenant if the current tenant should default or abandon
the property, and thelease terms that Buyer may be able to
negotiate with a potential replacement tenant considering the
location of the property, and Buyer’s legalability to make
alternate use of the property.
By accepting this Marketing Brochure you agree to release Solid
Investments and hold it harmless from any kind of claim, cost,
expense, orliability arising out of your investigation and/or
purchase of this net leased property.
________NET LEASE DISCLAIMER___________________
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Exclusively Marketed By
SOLID INVESTMENTS
DERRICK SCHROEDERNet Leased Specialist
C: 954-296-6955F: 954-944-1830
[email protected]