Celina, TX - 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 Celina, Texas. The tenant recently signed a brand new 15 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.50% rental increases every 5 years throughout the initial term and 4% increases every 3 years of the option periods, 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 in an income tax free state. 7-Eleven operates, franchises, and/or licenses more than 14,000 stores in the U.S. and Canada.

The 7-Eleven is located at the hard corner intersection of N Preston Rd and E Carthage Rd. N Preston Rd is a major retail thoroughfare serving the city of Celina.
N Preston Rd averages over 13,000 vehicles passing by daily. The property is located within walking distance of Celina High School, which has an enrollment of approximately 1,000 students. The site will also benefit from the new Martin Elementary School and Moore Middle School traffic, located directly south. The asset will be fully equipped with 6 MPD’s, providing ease and convenience for customers. 7-Eleven is in close proximity to several newly developed residential areas, such
as Buffalo Ridge and Chalk Hill. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Brookshire’s, McDonald’s, Taco Bell, Sonic, CVS, Tractor Supply Co., and O’Reilly Auto Parts, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. The 5-mile trade area is supported by a population of over 10,400 and 2,500 daytime employees. Residents within a 1-mile radius boast an affluent, average household income of $184,838.