Orangeburg, SC - 7-Eleven

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, 7-Eleven investment property located in Orangeburg, South Carolina. The tenant, 7-Eleven, Inc has over 13 years remaining on their lease with 4 (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 a passive investor. This is a rare, amended ground lease in which $3.6MM of Landlord contributions are depreciable (speak with Agent for details). 7 Eleven is the world’s largest convenience store chain with more than 85,000 stores in 20 countries, and over 80 billion in revenue.

The property is located along Five Chop Road, which averages 15,000 vehicles passing by daily and is a major retail thoroughfare serving the city of Orangeburg. The site features a 24-pump gas station, with 8 of the pumps being truck stop specific pumps. 7-Eleven is located just east of Interstate 26 (55,200 VPD), a major east/west travelling thoroughfare connecting Charleston, SC and Columbia, SC. Additionally, the property is positioned just west of Interstate 95 (40,100), a major north/south travelling highway connecting Jacksonville, FL and Fayettville, NC. Furthermore, the property is located in a strong corridor of industrial, with a multitude of major properties nearby helping increase consumer demand. Orangeburg’s developments county location is a top choice for recent industrial projects. The 7-Eleven’s ideal positioning in a strong industrial area helps provide ample business travel through the truck stop gas station portion. Moreover, the area features strong and consistent business traffic due to South Carolina becoming the highest manufacturing state, replacing Ohio a few years ago. Orangeburg County is a growing area and has a total population of 85,000+ people.