Greenville, NC - 7 Brew Coffiee

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 Brew Coffee investment property located in Greenville, North Carolina. The tenant recently signed a brand-new, 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years (beginning on the first day of Year 5) 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 a passive investor.

The 7 Brew is located near the signalized, hard corner intersection of South Memorial Drive and Regency Boulevard which combine to average over 51,100 vehicles passing by daily. South Memorial Drive is the major retail thoroughfare serving the city of Greenville. The 7 Brew is an outparcel to a Burlington and Planet Fitness anchored center that also features national/credit tenants including Aaron’s Rent to Own, Take 5 Oil Change, and Waffle House. In addition, the asset is in close proximity to an Academy and Hobby Lobby anchored center with other national/credit tenants such as Panda Express and 7-Eleven. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sam’s Club, DICK’S, Chick-fil-A, Tractor Supply, Starbucks, Taco Bell, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Pitt Community College, with a total enrollment of over 7,000 students. The 5-mile trade area is supported by a population of over 104,000 residents and 57,400 residents with an average household income of $83,925.