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7-Eleven (Stripes)

4222 Rodd Field Rd, Corpus Christi, TX 78414

Listing Price: $6,667,000

Cap Rate
4.35%
Tenant Name
Stripes
Years Remaining On Lease
14.9
Gross SF
4,650
Guarantor
Corporate Guarantee
Rentable SF
4,650
Price/Gross SF
$1,433.76
Lease Type
Absolute Net
Rent Per Square Feet
$62.37

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Stripes in Corpus Christi, Texas. The property consists of a 4,650-square-foot, freestanding building that sits on approximately 1.58 acres of land. The tenant signed a new 15-year lease, with 7.5 percent rental escalations scheduled every five years, as well as each option thereafter. The subject property had its grand opening in June 2022. The property is located at the signalized hard corner of Rodd Field Road and Yorktown Boulevard, where combined traffic counts exceed 17,202 vehicles per day. The area is extremely dense with more than 144,877 residents within a five-mile radius. Del Mar College is opening its first new campus in 60 years—the Oso Creek Campus—across from the subject property. Located at the Northeast corner of Rodd Field Road and Yorktown Boulevard, the 96-acre campus will include 250,000-square-feet of building space. In addition to the campus, Del Mar College is leasing up to 9 acres to the city of Corpus Christi for its new 36,760-square-foot Police Training Academy.

Investment Highlights

  • New 15-Year Absolute Net Lease with a Corporate Guarantee (7-Eleven, Inc.)
  • Signalized Hard Corner Location on Rodd Field Road and Yorktown Boulevard (17,202 VPD)
  • Features a Laredo Taco Company Restaurant Inside the Store
  • Next to Del Mar College's New 96-Acre Oso Creek Campus (Opening in Fall 2022) and the City's Future 36,760-SF Police Training Academy
  • More than 144,877 Residents Within a Five-Mile Radius and an Average Household Income of $98,887 within a Three-Mile Radius
  • Attractive 2022 Construction on a Large 1.58 Acre Parcel
  • 7-Eleven, Inc. Acquired Stripes Convenience Stores and the Laredo Taco brand in a $3.3 Billion Deal in 2017
  • Corpus Christi is Home to the Third-Largest Port in the U.S.

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

7-Eleven (Stripes)

Listing Price: $6,667,000

Cap Rate
4.35%
Tenant Name
Stripes
Years Remaining On Lease
14.9
Gross SF
4,650
Guarantor
Corporate Guarantee
Rentable SF
4,650
Price/Gross SF
$1,433.76
Lease Type
Absolute Net
Rent Per Square Feet
$62.37

Investment Highlights

  • New 15-Year Absolute Net Lease with a Corporate Guarantee (7-Eleven, Inc.)
  • Signalized Hard Corner Location on Rodd Field Road and Yorktown Boulevard (17,202 VPD)
  • Features a Laredo Taco Company Restaurant Inside the Store
  • Next to Del Mar College's New 96-Acre Oso Creek Campus (Opening in Fall 2022) and the City's Future 36,760-SF Police Training Academy
  • More than 144,877 Residents Within a Five-Mile Radius and an Average Household Income of $98,887 within a Three-Mile Radius
  • Attractive 2022 Construction on a Large 1.58 Acre Parcel
  • 7-Eleven, Inc. Acquired Stripes Convenience Stores and the Laredo Taco brand in a $3.3 Billion Deal in 2017
  • Corpus Christi is Home to the Third-Largest Port in the U.S.

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Stripes in Corpus Christi, Texas. The property consists of a 4,650-square-foot, freestanding building that sits on approximately 1.58 acres of land. The tenant signed a new 15-year lease, with 7.5 percent rental escalations scheduled every five years, as well as each option thereafter. The subject property had its grand opening in June 2022. The property is located at the signalized hard corner of Rodd Field Road and Yorktown Boulevard, where combined traffic counts exceed 17,202 vehicles per day. The area is extremely dense with more than 144,877 residents within a five-mile radius. Del Mar College is opening its first new campus in 60 years—the Oso Creek Campus—across from the subject property. Located at the Northeast corner of Rodd Field Road and Yorktown Boulevard, the 96-acre campus will include 250,000-square-feet of building space. In addition to the campus, Del Mar College is leasing up to 9 acres to the city of Corpus Christi for its new 36,760-square-foot Police Training Academy.

Exclusively Listed By

Financing By

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