Andrew Fallon, Calkain’s Executive Managing Director, is bringing to market a 7-Eleven ground lease in Hyattsville, MD this week. For an investor looking for a net lease investment, this asset presents a great opportunity to enter the marketplace at a $1,905,000 purchase price. As a recently renovated facility, the grand opening is scheduled for June 23rd 2016. With a highly visible location supported by strong demographics, this asset is an absolute NNN ground lease with no landlord responsibilities. Additional information on this listing can be found at www.calkain.com/property/7-eleven-hyattsville-md/.
Fallon commented, “We are seeing an increased investor demand for convenience store properties, whether it’s 7-Eleven, Circle K, or regional concepts like RaceTrac, Wawa, Sheetz and Royal Farms. These are very strong operators with excellent credit, and most times the locations are highly visible corners with large traffic counts.”
As an investment grade tenant, 7-Eleven’s are attractive net lease investments and we are seeing a lot of activity in the marketplace. Recently, Fallon brokered the sale of another 7-Eleven property, also structured as an absolute net ground lease with 9 years remaining.The purchaser was a private high net worth investor who paid $2,106,000 for the 7-Eleven. It’s the 9th net lease property that this buyer has acquired through the services and exclusive representation of Fallon. The $2,106,000 price reflects a low 5.00% cap rate, based on NOI.
This sale marks the eleventh 7-Eleven that Fallon has sold in the last 2 years; other sales include locations in Capitol Heights, MD, Richmond and Virginia Beach, VA and Dover, DE. These recent 7-Eleven sales have an average cap rate of 5.10%. In addition to this 7-Eleven listing, Andrew Fallon has over $60 million worth of net lease properties available. Please contact Andrew for details on his listings.
Calkain Companies is a commercial real estate brokerage firm which specializes in assisting buyers and sellers with single and multi-tenant net leased properties through all aspects of the transaction including advisory, brokerage, debt placement, equity placement, asset management and research. Calkain is a national provider with multiple office locations throughout the East Coast. Additional information about the firm and listings may be found at www.calkain.com.
