manteo (nags head), nc...• #1 on convenience store news’ top 100 convenience store chains of...

Actual Building

> Absolute NNN Corporate Lease - Zero Landlord Obligations> Bite Size Deal – Low Price Point/Rent> Strong Sales / Healthy Rent to Sales Ratio of 2.86%> Established Location – 7-Eleven has Occupied this Site for Over 40 Years> 7-Eleven is Investment Grade S&P Rated AA-

Price $613,590 | 6.00% CAP | NOI $36,815

Manteo (Nags Head), NC

Long time established Absolute NNN Corporate 7-Eleven C-Store located in Manteo (Nags Head/Outer Banks), NorthCarolina for $613,590 / 6% CAP. There are 3.9± yearsremaining on the absolute NNN Lease with 11% rent increasesevery 5 years and 3 x 5 year options to renew (CPI increases inthe Options).

7-Eleven has occupied this location for over 40 years and hasa very healthy rent to sales ratio of only 2.86%.

There are zero landlord obligations and the sale includes boththe building & the land (Landlord benefits from depreciation).

The property is situated on 0.90 acres and located next to aDollar General, McDonald’s and Dunkin Donuts. Otherimmediate retailers include: CVS, ACE Hardware, Piggly Wiggly,Advance Auto Parts, Wells Fargo, Pizza Hut and more.

7-Eleven is investment grade rated S&P AA- and is the largestconvenience store operator in the world with more than69,000 stores in 17 countries, including 11,800 in NorthAmerica.

_________INVESTMENT SUMMARY___________________

PRICE $613,590

CAP RATE 6.00%

NOI $36,815

RENT TO SALES RATIO 2.86%

YEARS REMAINING 3.9± years

RENT INCREASES 11% Every 5 yrs & CPI Bumps in Options

OPTIONS 3 x 5 years

No warranty expressed or implied has been made as to the accuracy of the information provided herein, no liability assumed for error or omissions

TENANT 7-Eleven, Inc

GUARANTOR Corporate

LEASE TYPE Absolute NNN – Fee Simple

LANDLORD RESPONSIBILITIES None

LAND SIZE 0.90± AC / 39,291± SF

BUILDING SIZE 2,490± SF

YEAR BUILT / RENOVATED 1977 / 2011

RENT COMMENCEMENT 10/1/2008

LEASE EXPIRATION 9/30/2023

610 US Highway 64 Manteo, NC 27954

_________TENANT PROFILE___________________________


7-Eleven is the world’s #1 convenience store. It is the largest operator, franchisor and

licensor of convenience stores in the world. Based in Irving, Texas, 7 Eleven

operates, franchises and/or licenses more than 69,000 stores in 17 countries,

including 11,800 in North America. Known for its iconic brands such as Slurpee®, Big

Bite® and Big Gulp®, 7 Eleven has expanded into high-quality sandwiches, salads,

side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef

tacos.

7-Eleven Accolades:

• #1 on Convenience Store News’ Top 100 Convenience Store Chains of 2019

• #1 on Entrepreneur Magazines 2017 Top Global Franchises List

• Recognized by Victory Media as a Silver Level Military Friendly Employer for 2017

• #5 on FranchiseRanking.com for Best Convenience Store Franchises Company

USA in 2016

• #3 on Forbes magazine’s Top 20 Franchises to Start in 2016

• #1 on Entrepreneur magazine’s Franchise 500’s Top 10 Most Popular Retail

Companies in 2016

• #3 on Fast Company’s “World’s Top 10 Most Innovative Companies in Retail” in

2013

• 7-Eleven holds an “AA-‘ credit rating by S&P


_________AERIAL___________________________

_________MARKET OVERVIEW______________________

Manteo, NC - The town of Manteo is located on Roanoke Island, which is sandwiched in between the central Outer Banks beaches and the eastern North

Carolina mainland. Manteo is about a 10 minute drive from the Outer Banks beaches. Manteo has one of the highest concentrations of attractions in the

Outer Banks. Downtown Manteo is located just a few blocks off the main road of US Highway 64, is a destination in its own right, and the small streets

that lead to the harbor are filled with gorgeous gardens, manicured lawns, and charming bed and breakfasts.

The Outer Banks is rich in history, from the early explorers who first set foot on its shores 400 years ago to the groundbreaking first flight that launched

modern aviation. Every community has a story and a resonant heritage, and as a result, the Outer Banks is home to a number of locally and nationally

renowned museums honoring the area's unique stories, culture and landmarks.


_________DEMOGRAPHICS__________________________

Solid Investments hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Solid Investmentshas not and will not verify any of this information, nor has Solid Investments conducted any investigation regarding these matters. SolidInvestments makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all materialinformation before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of thisinvestment opportunity. Solid Investments expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current orfuture performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and yourtax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased propertyto determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request andcarefully review all Legal and financial documents related to the property and tenant. While the tenant’s past performance at this or otherlocations is an important consideration, it is not a guarantee of future success.

Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’sprojected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant andany guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may beinterrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees,Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of anylong-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and thelease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legalability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Solid Investments and hold it harmless from any kind of claim, cost, expense, orliability arising out of your investigation and/or purchase of this net leased property.

________NET LEASE DISCLAIMER___________________

Exclusively Marketed By

SOLID INVESTMENTS

DERRICK SCHROEDERNet Leased Specialist

C: 954-296-6955F: 954-944-1830

[email protected]

manteo (nags head), nc...• #1 on convenience store news’ top 100 convenience store chains of...

Documents