Investment Overview

The Tenant, 7-Eleven Inc., has 12 years remaining on its 15-year NNN lease. The lease features 10 percent (10%) rental increases every five years during the base term (with the next occurring 10/1/2027) and four, five-year options, providing revenue growth and a hedge against inflation. 7-Eleven operates in a 4,042-square-foot store with six multi-product dispensers (MPDs) and a car wash. The lease is backed by the nation’s largest convenience store operator with roughly 85,000 stores worldwide and an “A-” credit rating by Standard & Poor’s. In 2022, 7-Eleven relocated to the subject site from a convenience-only location one-half-mile south at 11004 Jefferson Avenue, demonstrating their commitment to the market. The subject location’s lease was executed after the location of Wawa became public knowledge and the subject location was remodeled prior to 7-Eleven’s grand opening on 9/2/2022. Strategically positioned at the signalized intersection of Jefferson Avenue and Harpersville Road visible to 68,000 vehicles per day. Jefferson Avenue is one of the region’s most heavily traveled commercial and commuter corridors. 7-Eleven has two primary means of access, as well as a third access point via the parking field of the neighboring Walmart Neighborhood Market. This is a highly successful Walmart Neighborhood Market location, averaging nearly a million annual customer visits and ranks in the 90th percentile chainwide.