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7-Eleven 1601 S Croatan Hwy 2,220 SF Retail Building Kill Devil Hills, NC 27948 $4,918,550 CAD ($2,215.56 CAD/SF) 5% Cap Rate
Investment Highlights
- Brand new 15-year lease extension through 2041 with 10% increases every 5 years
- Absolute NNN lease with zero landlord responsibilities
- ±39,000 VPD on Croatan Highway, the primary Outer Banks retail corridor
- 7-Eleven operating at this site since 1978 — nearly 50 years of successful history
- 7-Eleven carries an 'A-' S&P credit rating with 83,000+ global locations
- Dare County generated $2.1B+ in visitor spending in 2024, ranked 4th in NC
Executive Summary
Broker Of Record
Gerard Hamas
Matthews of North Carolina, LLC
362768, C42113 (NC)
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203 (866) 889-0550
Gerard Hamas
Matthews of North Carolina, LLC
362768, C42113 (NC)
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203 (866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,220 SF
Building Class
B
Year Built
1977
Price
$4,918,550 CAD
Price Per SF
$2,215.56 CAD
Cap Rate
5%
NOI
$245,928 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.42 AC
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 012374000 | Improvements Assessment | $464,733 CAD |
| Land Assessment | $875,361 CAD | Total Assessment | $1,340,094 CAD |
Property Taxes
Parcel Number
012374000
Land Assessment
$875,361 CAD
Improvements Assessment
$464,733 CAD
Total Assessment
$1,340,094 CAD
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7-Eleven | 1601 S Croatan Hwy
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