Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding 7-Eleven investment property located in Jacksonville, Texas. The tenant has approximately 13 years remaining on its current lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 7.5% rental increases every 5 years throughout the initial term, and 4% increases every 3 years during the extension terms, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor in an income tax free state. 7-Eleven operates, franchises and/or licenses more than 14,000 stores in the U.S. and Canada.

7-Eleven is strategically located along South Jackson Street, an arterial thoroughfare that supports over 22,800 vehicles per day. Furthermore, the site benefits from nearby access to U.S. Highway 79 (11,600 VPD), making this an ideal, centralized location with easy commutes. Located within a dense retail corridor, the asset is within close proximity of multiple national/credit tenants including Walmart Supercenter, Tractor Supply, Harbor Freight, CVS, Dollar Tree, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the site is adjacent to Christus Mother Frances Hospital (25 beds) and less than 3 miles south of Jacksonville College (511 students), further increasing consumer traffic to the trade area. The 5-mile subject trade area is supported by more than 18,000 residents and 9,000 daytime employees who earn an average household income of more than $70,000.

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