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Auto Service - Gas-Conv

7-Eleven (Stripes)

1520 S Ware Rd, McAllen, TX 78501

Listing Price: $6,284,000

Cap Rate
5.00%
Tenant Name
7-Eleven (Stripes)
Years Remaining On Lease
15.0
Gross SF
4,754
Guarantor
Corporate Guarantee
Rentable SF
4,754
Price/Gross SF
$1,321.83
Lease Type
Absolute Net
Rent Per Square Feet
$66.09

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Stripes in McAllen, Texas. The property consists of a 4,754-square-foot, freestanding building that sits on approximately 1.42 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.

Investment Highlights

  • New 15-Year Absolute Net Lease with a Corporate Guarantee (7-Eleven, Inc.)
  • Next to the 174,000-SF McAllen Convention Center, which Attracts Approximately 400,000 Visitors Annually
  • Signalized Hard Corner Location on Interstate Highway 2 and South Ware Road; Combined Traffic Counts Exceed 187,000 Vehicles Per Day
  • Features a Laredo Taco Company Restaurant Inside the Store
  • More than 198,421 Residents within a Five-Mile Radius
  • Large 1.42 Acre Highway Site in a Busy Retail Corridor
  • New Construction in the Immediate Area includes Palm Crossing Phase II, a 30,000-SF Retail Strip; The Grove, a 7-Acre Mixed-Use Urban Development; and a 140-Room Aloft Hotel

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

7-Eleven (Stripes)

Listing Price: $6,284,000

Cap Rate
5.00%
Tenant Name
7-Eleven (Stripes)
Years Remaining On Lease
15.0
Gross SF
4,754
Guarantor
Corporate Guarantee
Rentable SF
4,754
Price/Gross SF
$1,321.83
Lease Type
Absolute Net
Rent Per Square Feet
$66.09

Investment Highlights

  • New 15-Year Absolute Net Lease with a Corporate Guarantee (7-Eleven, Inc.)
  • Next to the 174,000-SF McAllen Convention Center, which Attracts Approximately 400,000 Visitors Annually
  • Signalized Hard Corner Location on Interstate Highway 2 and South Ware Road; Combined Traffic Counts Exceed 187,000 Vehicles Per Day
  • Features a Laredo Taco Company Restaurant Inside the Store
  • More than 198,421 Residents within a Five-Mile Radius
  • Large 1.42 Acre Highway Site in a Busy Retail Corridor
  • New Construction in the Immediate Area includes Palm Crossing Phase II, a 30,000-SF Retail Strip; The Grove, a 7-Acre Mixed-Use Urban Development; and a 140-Room Aloft Hotel

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Stripes in McAllen, Texas. The property consists of a 4,754-square-foot, freestanding building that sits on approximately 1.42 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.

Exclusively Listed By

Financing By

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