7-Eleven | 2489 Lapeer Rd
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7-Eleven 2489 Lapeer Rd
2,519 SF Retail Building Auburn Hills, MI 48326 $1,600,000 ($635/SF) 5% Cap Rate
Investment Highlights
- 3,137 SF Single Tenant Net Lease 7-Eleven Situated on .55 Acres
- Absolute "NNN" Net Lease - Zero Landlord Responsibilities
- Strong Daytime Employment (5-Mile) | 103K+ Employees & Over $1.9B Consumer Spending
- Long Term Occupancy - 7-Eleven Has Been Operating At This Location For Over 34 Years
- Located 1.5 Miles Away From Oakland University (16,000+ Students)
- Intersection of Lapeer & Walton | Hard Signalized Corner Over 36,500+ Vehicles Per Day w/ Multiple Points of Ingress & Egress
Executive Summary
3,137 SF Single Tenant Net Lease 7-Eleven Situated on .55 Acres
Long Term Occupancy - 7-Eleven Has Been Operating At This Location For Over 34 Years
Absolute "NNN" Net Lease - Zero Landlord Responsibilities
Located 1.5 Miles Away From Oakland University (16,000+ Students)
Strong Daytime Employment (5-Mile) | 103K+ Employees & Over $1.9B Consumer Spending
Intersection of Lapeer & Walton | Hard Signalized Corner Over 36,500+ Vehicles Per Day w/ Multiple Points of Ingress & Egress
Prominent Demographics | Population 5-Mile Radius Exceeds 154,000
Excellent Signage & Visibility | Monument Sign Strategically Placed at Intersection
10% Rental Increases Each Option Period | (3) Five Year Renewal Options
Corporate Lease Guaranty | 7-Eleven - S&P AA- & Moody's Baa1 (Investment Grade)
Long Term Occupancy - 7-Eleven Has Been Operating At This Location For Over 34 Years
Absolute "NNN" Net Lease - Zero Landlord Responsibilities
Located 1.5 Miles Away From Oakland University (16,000+ Students)
Strong Daytime Employment (5-Mile) | 103K+ Employees & Over $1.9B Consumer Spending
Intersection of Lapeer & Walton | Hard Signalized Corner Over 36,500+ Vehicles Per Day w/ Multiple Points of Ingress & Egress
Prominent Demographics | Population 5-Mile Radius Exceeds 154,000
Excellent Signage & Visibility | Monument Sign Strategically Placed at Intersection
10% Rental Increases Each Option Period | (3) Five Year Renewal Options
Corporate Lease Guaranty | 7-Eleven - S&P AA- & Moody's Baa1 (Investment Grade)
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
2,519 SF
Year Built
1990
Price
$1,600,000
Price Per SF
$635
Cap Rate
5%
NOI
$80,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.96 AC
Zoning
B-2
Parking
23 Spaces (9.13 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 14-11-351-011 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $267,360 |
PROPERTY TAXES
Parcel Number
14-11-351-011
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$267,360
Contacts
-
Deno Bistolarides -
Leonard Minuto -
Dante Hargis -
Encore Real Estate Investment Services
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7-Eleven | 2489 Lapeer Rd
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