7-Eleven | 15yr Corp Abs NNN | 2023 Constrct | 1850 Klockner Rd
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7-Eleven | 15yr Corp Abs NNN | 2023 Constrct 1850 Klockner Rd
3,200 SF Retail Building Hamilton, NJ 08619 £3,342,626 (£1,045/SF) 5.15% Net Initial Yield
Investment Highlights
- 15-Year Lease | 2023 Construction | Options To Extend | Corporate Signed | Scheduled Rental Increases
- Signalized, Hard Corner Intersection | Proximity To Princeton | Off I-295 | DIrect Residential Consumer Base | Surrounding Retailers
- Absolute NNN Lease | Accelerated Depreciation | Zero Landlord Responsibilities
- Dense Demographics 5-Mile Trade Area | 4.5 Miles NE of Downtown |Robert Wood Johnson University Hospital
Executive Summary
• 15-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is signed by 7-Eleven, Inc., an investment grade (S&P: A), a globally recognized and established convenience store/gas operator (13,000+ U.S. sites)
• The lease features 8% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation
• 2023 construction will feature high-quality materials, high-level finishes, and distinct 7-Eleven design elements
• The lease is signed by 7-Eleven, Inc., an investment grade (S&P: A), a globally recognized and established convenience store/gas operator (13,000+ U.S. sites)
• The lease features 8% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation
• 2023 construction will feature high-quality materials, high-level finishes, and distinct 7-Eleven design elements
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,200 SF
Building Class
C
Year Built
2023
Price
£3,342,626
Price Per SF
£1,045
Net Initial Yield
5.15%
NOI
£172,139
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Lot Size
1.20 AC
Zoning
Commercial
Parking
25 Spaces (7.81 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Freeway Visibility
- Signage
- Signalised Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 03-01923-0000-00006 | Improvements Assessment | £2,428,412 |
| Land Assessment | £514,930 | Total Assessment | £2,943,342 |
PROPERTY TAXES
Parcel Number
03-01923-0000-00006
Land Assessment
£514,930
Improvements Assessment
£2,428,412
Total Assessment
£2,943,342
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7-Eleven | 15yr Corp Abs NNN | 2023 Constrct | 1850 Klockner Rd
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