Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net Leased 7-Eleven located at 9308 N Pennsylvania Avenue in The Village, Oklahoma, a quick 15-minute drive North of Downtown Oklahoma City. The freestanding single-tenant property consists of a 2,400 Sq.Ft Convenience Store, two canopies with fueling stations each, and is situated on a .26-acre parcel of land. 7-Eleven has demonstrated tremendous commitment to the site which is reflected in their continued occupancy since the property’s construction in 1987, with more than 36 years of tenancy. Strategically located on the Hard- Signalized Intersection of West Britton Road and N Pennsylvania Avenue, the property benefits from its high visibility to more than 38,993 vehicles per day. The property is also conveniently located as an outparcel to a highly trafficked Walmart Neighborhood Market. The subject property sits within the area’s wellknown Nichols Hills, an upscale residential and shopping area, known for the trendy Classen Curve mall, chic fashion boutiques, range of restaurants and bars, and the Oklahoma City Golf & Country Club. Nichols Hills is an affluent and exclusive area which is home to numerous HNW individuals including notables such as; Clayton Bennett, owner of the Oklahoma City Thunder, Tom Love, billionaire and founder of Love’s, and Aubrey McClendon, founder of American Energy Partners. The immediate trade area is also home to CVS, Walgreens, Little Caesar’s, Arby’s, Sonic, Scooter’s Coffee, and numerous strip centers made up of National and Regional Tenants. Also nearby this property is OSU College of Engineering with 24,535 enrolled students and Carl Albert State College with 1,781 enrolled students. Integris Baptist Medical Center is a few minutes away serving the community with 511 beds. There are many new home developments within just a few miles from this 7-Eleven property including Homes by Taber at Nichols Creek with 200 new homesites already sold and 60 more available. Also Home by Taber at Britton Farms with 48 brand new homesites already sold and 65 more available. Lone Oak East New Home Development has sold out, and Westpoint Homes and Deer Creek Village are also nearby. 7-Eleven originally executed a 30 Year Absolute NNN Lease in 1986 and has since exercised several options. They are currently in their last option with no renewal options remaining. 7-Eleven currently pays a fixed annual rent of $18,120 in addition to percentage rent based on store and fuel sales, which have averaged about $184,000, bringing the total NOI to +/- $202,000.