Listing Details
Oswald Cooke & Associates is pleased to offer a seasoned corporate 7-Eleven store, which originally opened in August 2020. The 1.162 Acre site has abundant visibility and access at the hard corner intersection of Highway 74 and South Myrtle School Road in Gastonia, North Carolina. Highway 74 (West Franklin Boulevard) runs parallel with Interstate 85 (east) and is one of the primary relief corridors bring traffic in and out of the City of Charlotte. Immediate area tenants also include Wal-Mart, Bank of America, Zaxby’s, Wendy’s, and a host of others. Gaston County is experiencing an industrial boom as a result of the growth in the area, with over 10MM square feet added in the last five years alone. Top employers include Parkdale Mills, CaroMont Health and Novant Health . 7-Eleven has a standard and Poor’s bond rating of AA-, operates 83,000 stores worldwide, and is the nation’s largest convenience store chain with over 13,000 locations. The Charlotte MSA has grown 15% over the last decade, and the area is consistently ranked as one of the fastest growing cities in the country.
PRICE :$5,388,000
CAP RATE: 5%
NOI: $269,400*
LEASE TERM: 15-Years
LEASE TYPE: NNN
RENT COMMENCEMENT: August 14, 2020
RENTAL INCREASES: 10% Every 5 Years
RENEWAL OPTIONS: (4) 5-Year Options
BUILDING SIZE: 3,030 SF
LOT SIZE: 1.162 Acres
YEAR BUILT: 2020
EXCESS LOT: .35 Acres
TMS: 106885
COUNTY: Gaston
ROFR: Yes (15 days)
Rent includes bump for September 1, 2025
Property Photos
