Turlock, CA - 7-Eleven

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, 7-Eleven investment property located in Turlock, California. The tenant, 7-Eleven, Inc (S&P: A-) recently signed a brand new 15 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The 7-Eleven is located at the signalized, hard corner intersection of Fulkerth Road and N. Tully Road with a combined traffic count of approximately 33,400 vehicles per day. Fulkerth Road is a major east/west commercial corridor serving the city of Turlock and provides direct access to the surrounding retail trade area. The property is situated approximately two blocks from freeway access to Highway 99 (115,900 VPD), a major north/south traveling highway connecting Sacramento and Fresno. The 7-Eleven benefits from morning-side commuter traffic, increasing consumer flow to the area. Additionally, the site is located directly across from a Walmart Supercenter anchored center, with other major tenants including Burlington, Staples, Shoe Palace, and more. WalMart has an extremely strong consumer pull, which provides crossover retail exposure and increased consumer traffic to the subject property. Furthermore, the asset is positioned near surrounding national/credit tenants including Costco, Target, Kohl’s, Safeway, Lowe’s, Hobby Lobby, Panera, BevMo!, Boot Barn, TJ Maxx, Old Navy, HomeGoods, Petco, 5.11, Cricket, Dollar Tree, Goodwill, Harbor Freight, and Starbucks. The property is also near major retail destinations including Monte Vista Crossing, Countryside Plaza Shopping Center, Valley View Center Plaza, Blossom Valley Plaza, and Turlock Town Center, further increasing consumer traffic to the site. The 7-Eleven is in close proximity to California State University, Stanislaus with approximately 9,724 students, Emanuel Medical Center, Turlock High School, Dutcher Middle School, Stanislaus County Fairgrounds Event Center, and major employers such as Amazon Warehouse. The 5-mile trade area is supported by a population of approximately 92,699 residents with an average household income of approximately $108,519.

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Listing ID: a28TP000002ycFlYAI