7-Eleven

Tenant

7-Eleven

Location

Neptune, NJ

Price

$2,580,600

CAP Rate

4.65%

NOI

$120,000

Lease Term

12 Years

Occupancy

100%

Building Size

2,800 Sq. Ft.

Property Type

Single Tenant

Year Built

2020

Lot Size

0.44 acres

Status

Available

Property Contacts:

Karly Iacono

First Vice President Investments

(201) 742-6119 | Email

  • Brand New 2020 Construction | Opening September  2020
  • NNN Corporately Guaranteed Lease
  • Investment Grade Tenant | AA- Rating from S&P
  • 8% Rent Increases in Base Term and Options
  • Excellent Visibility | 18,870 VPD
  • Strong Demographics | Over 128,000 People in Five Miles
  • Affluent Area | Average Household Income Exceeds $108,000
  • Located on a Hard Corner and Signalized Intersection
  • Close Proximity to Hackensack Meridian Health Jersey Shore Medical Hospital | 646-Bed Facility

The Iacono Team at Marcus and Millichap is pleased to exclusively present a new construction 7-Eleven in Neptune, NJ. Expected delivery is September 1, 2020. The investment is subject to a twelve-year triple net lease with three five-year options. The lease is backed by 7-Eleven corporate, which has an investment grade S&P rating of AA-.  There are 8% increases throughout the base term and options.

The subject property is located on a hard corner signalized intersection with excellent visibility. The area is heavily trafficked with more than 18,870 vehicles per day. National retailers in the area include Popeye’s, ALDI, Dunkin’ Donuts, AutoZone, McDonald’s Taco Bell and many more. Additional traffic drivers include Neptune High School and Neptune Middle School which have more than 2,700 students. Hackensack Meridian Health Jersey Shore Medical Center, a 646-bed facility, is located approximately 1.2 miles away. The Hackensack Meridian Jersey Shore University Medical Center is an award-winning hospital throughout the New York City metropolitan area and a national basis. The area is densely populated with more than 128,000 people residing within five miles.

7-Eleven is an American-Japanese international chain of convenience stores. They are the world’s largest operator franchisor, and licensor of convenience stores with more than 68,000 locations across 17 countries. Founded in 1927, 7-Eleven was the pioneer of the convenience concept and was the first convenience store to sell gas and use ATM services. The company’s most iconic products include the Slurpee, Big Gulp soft drinks, and fresh-made coffee. Their product mix is always evolving to better serve their customers.