Triple-Net (NNN) 7-Eleven · Lease Guarantor Company Name Ownership Years in Business Number of...

7-Eleven

7 N Rochester Rd, Clawson, MI 48017

James Capital Advisors

Marketing Package

Triple-Net (NNN) 7-ElevenClawson, MI

7-Eleven



The Offering

$1,395,000

6.19%

$86,400.00

$463.46

$28.70

Vince Saucer

(424) 325-2617

[email protected]

FINANCIAL SUMMARYPurchase Price

Cap Rate

Net Operating Income

Price / SF

Rent / SF

Listing Agent

Phone Number

Email

PROPERTY INFOTenant

Street Address

City

State

Zip

APN

GLA

Lot Size

Year Built

7-Eleven

7 North Rochester Road

Clawson

MI

48017

16-20-34-453-003

3,010 SF

0.28 AC

2013

Stable Rent IncreaseThe rent schedule includes rental escalations, with an 8.00% increase in each option.

Located Near Detroit, MIClawson is located 17 miles from Detroit with a population of 315,234 in a 5-mile radius and an average household income of $87,852.

High Traffic CountsThe subject property is located on a hard-signalized corner intersection, with traffic counts exceeding 34,000 VPD.

Dense Retail CorridorLocated just down the street from Oakland Mall, a 1.5 MM SF retail center featuring 120 stores, and a Target anchored shopping center.

Minimal Landlord ResponsibilitiesThe subject property has a corporate guarantee and operates on a triple net lease with minimal landlord responsibilities.

INVESTMENT HIGHLIGHTS

7-Eleven



Property Image

7-Eleven



Lease Summary

Tenant Responsibility



Corporate

7-Eleven

Private

91

60,000+

Real Estate Taxes

Insurance

Repairs & Maintenance

*Landlord Responsible for Structure Only

Lease Guarantor

Company Name

Ownership

Years in Business

Number of Locations

LEASE SUMMARYLease Type

Type of Ownership

Original Lease Term

Commencement Date

Lease Expiration

Term Remaining

Increases

Options

ROFR / ROFO

Triple-Net (NNN)

N/A

10.25 Years

April 1, 2014

June 30, 2024

5 Years

8% Each Option

Two, Five-Year Options

Yes

ABOUT THE BRAND7-Eleven is a Japanese-owned American international chain of convenience stores, headquartered in Irving, Texas, that operates, franchises, and licenses some 64,319 stores in 18 countries as of January 2018. 7 Eleven is a brand that’s recognized worldwide. They have also made a reputable name for themselves in the franchise business and are consistently ranked as a top-five franchisor. A turnkey business model, world-class training, ongoing corporate support and special financing programs are available to increase the success rates of our Franchisees.

7-Eleven stores are extended-hour retail convenience stores that emphasize convenience to the guest and provide a broad array of products, including many not traditionally available in convenience stores, to meet the changing needs of guests. These products include an assortment of high-quality fresh food, hot food and proprietary beverage offerings, and private brand items. 7-Eleven stores are generally open every day of the year, with the vast majority open 24 hours a day, and are located in neighborhood areas, on main thoroughfares, in shopping centers, or on other sites where they are easily accessible and have parking facilities for quick in-and-out shopping.

Number of Locations

64,319

Years in Business

91

Countries

18

7-Eleven



Property Image

7-Eleven



Rent Schedule

8%

8%

8%

$28.70

$31.00

$33.48

6.19%

6.69%

7.22%

Base Term

1st Option

2nd Option

$86,400.00

$93,312.00

$100,777.00

$7,200.00

$7,776.00

$8,398.08

4/1/2019-06/30/2024

07/01/2029-06/30/2034

07/01/2034-06/30/2039

CAP RATERENT / SFINCREASEMONTHLY RENTANNUAL RENT PERIODRent Schedule

7-Eleven



Location Overview

CLAWSON, MIThe City of Clawson is a small residential community located just north of Detroit and about one mile west of the Chrysler (I-75) expressway.

This fully-developed community is bounded by the cities of Troy, Royal Oak, and Madison Heights. One of the nation’s finest medical centers, William Beaumont Hospital, is located approximately two miles southwest of Clawson’s city limits in the city of Royal Oak.

Clawson is recognized as a progressive community with stable government and excellent services. Clawson combines the population-attracting factors of good affordable housing, a wide array of quality community services, and a desirable location in the metropolitan area with respect to nearby employment centers.

“LITTLE CITY WITH THE BIG HEART”In Clawson, as in most areas throughout the Detroit metropolitan area, property value has risen significantly in recent years. As the community of Clawson continues to grow, so does the number of events and attractions in the city.

Clawson is steeped in pride with its annual community events. From the annual Christmas tree lighting event, to the Memorial Day commemoration, to the famous Independence Day celebration that starts well before the 4th of July and doesn’t officially end until the enormously popular fireworks display at Clawson City Park, Clawson’s big heart and pride shows through every single year. These events are just a few of the many reasons that Clawson is the Little City with the Big Heart!

7-Eleven



Retail Aerial

7-Eleven



Site Plan

7-Eleven



Demographics

10 MILE

441,971

439,367

437,060

0.59%

0.53%

$78,064

$55,898

5 MILE

134,579

133,132

129,410

1.09%

2.88%

$93,445

$71,878

3 MILE

49,630

48,911

46,382

1.47%

5.45%

$85,638

$68,077

1 MILE

6,152

6,049

5,652

1.70%

7.02%

$76,398

$63,757

HOUSEHOLDS

2023 Projection

2018 Estimate

2010 Census

Growth 2018 - 2023

Growth 2010 - 2018

HOUSEHOLDS

Avg. HH Income

Med. HH Income

10 MILE

1,098,914

1,092,506

1,086,341

0.59%

0.57%

5 MILE

319,522

315,996

306,553

1.12%

3.08%

3 MILE

109,048

110,859

102,219

1.66%

6.68%

1 MILE

13,452

13,228

12,353

1.69%

7.08%

DEMOGRAPHICSPOPULATION

2023 Projection

2018 Estimate

2010 Census

Growth 2018 - 2023

Growth 2010 - 2018

Located Near Detroit, MIClawson is located 17 miles from Detroit with a population of 315,234 in a 5-mile radius and an average household income of $87,852.

17 MIFrom Detroit, MI

7-Eleven



DISCLAIMERThe information contained in this Marketing Brochure has been obtained from sources believed to be reliable. However, James Capital Advisors, Inc. & Broker of Record (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property.

The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants.

A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property.

CONFIDENTIALITYThis Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker.

RELEASEThis Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker. from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property.

NON-ENDORSEMENTBroker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker.

Disclaimer

7-Eleven



Contact Information

Contact Information

Broker of RecordAndrew WhislerMI RE Lic. 6502380502

(248) [email protected] Choice Realty Associates, LLCLivonia, MI6505370245

Vince SaucerSenior Associate

(424) [email protected] RE Lic. 01935636

Triple-Net (NNN) 7-Eleven · Lease Guarantor Company Name Ownership Years in Business Number of...

Documents

Transcript of Triple-Net (NNN) 7-Eleven · Lease Guarantor Company Name Ownership Years in Business Number of...