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7-ELEVEN / SPEEDWAY C-STORE & GAS | NNN 1602 Martin Luther King Jr Pky SE 1,011 SF Retail Building Wilson, NC 27893 $3,071,024 CAD ($3,037.61 CAD/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Long Term Absolute Net Leases Featuring Favorable Rental Increases Every 5 Years throughout the Initial Term and Options.
- Substantially Below Replacement Costs. Recession and Internet Resistant Resistant Retailer with Attractive Industry Dynamics.
- Prime Locations in Growing Southeast Metro Market. Most Sites are Situated in Hard Corner Locations - Feature Easy Access and Excellent Visibility.
- Strong Tenant - The Company is Ranked #162 on Fortune Global 500 List with a S&P Investment Grade Credit Rating of “A”.
- 100% Bonus Depreciation - Fee Simple Ownership of a Gas Station Provides Significant Tax Savings to the Landlord via Accelerated Bonus Depreciation.
- Current Rents are Below Market, Offering Future Upside Potential.
EXECUTIVE SUMMARY
7-Eleven / Speedway C-Store & Gas Station | Absolute Net Lease | Qualifies for 100% Bonus Depreciation | Below Replacement Cost | Below Market Rental Rate | Investment Grade | Favorable Rental Increases Every 5 Years | Internet Resistant and Recession-Proof Investment
North Carolina Broker of Record: Charles Gallagher | 201 S. Tryon St., Ste. 1220 Charlotte, NC 28202 | Lic. 351471 | P: (804) 802-6881 | Charles.Gallagher@MarcusMillichap.com
North Carolina Broker of Record: Charles Gallagher | 201 S. Tryon St., Ste. 1220 Charlotte, NC 28202 | Lic. 351471 | P: (804) 802-6881 | Charles.Gallagher@MarcusMillichap.com
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,011 SF
Building Class
C
Year Built
1988
Price
$3,071,024 CAD
Price Per SF
$3,037.61 CAD
Cap Rate
5%
NOI
$153,551 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.60 AC
Zoning
B4
Frontage
125’ on Martin Luther King Jr Pky
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- 7-Eleven / Speedway
- Retailer
- 1,011 SF
- -
- Triple Net
- Feb 2041
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| 7-Eleven / Speedway | Retailer | 1,011 SF | - | Triple Net | Feb 2041 |
PROPERTY TAXES
| Parcel Number | 3721-86-1937.000 | Improvements Assessment | $158,094 CAD |
| Land Assessment | $118,267 CAD | Total Assessment | $276,361 CAD |
PROPERTY TAXES
Parcel Number
3721-86-1937.000
Land Assessment
$118,267 CAD
Improvements Assessment
$158,094 CAD
Total Assessment
$276,361 CAD
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7-ELEVEN / SPEEDWAY C-STORE & GAS | NNN | 1602 Martin Luther King Jr Pky SE
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