7-Eleven (Stripes)

7-Eleven (Stripes)

Corpus Christi, TX

Corpus Christi, TX

7-Eleven (Stripes)

Offered for sale is a 7-Eleven (Stripes) fuel and convenience store at 3201 S Padre Island Dr in Corpus Christi, Texas. The 2,946-square-foot building sits on 0.52 acres at the signalized hard corner of TX 358 and Kostoryz Road, with combined traffic of over 144,000 vehicles per day. The lease is absolute net and corporately guaranteed, with roughly six years remaining, 10% escalations every five years, and two five-year renewal options.

Price $2,837,000
Cap Rate 5.50%
Building Size 2,946 sqft
Lot Size 0.52 acres
Year Built 1987
Offering Memorandum

Jake Stammen

Associate Director
(972) 755-5209
jake.stammen@marcusmillichap.com
License: TX 767420

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
FINANCING TEAM

Duke Dennis

Director
(817) 932-6172

 

  • Absolute Net Lease with Six Years Remaining | 14-Year Operating History
  • Signalized Hard-Corner Location at TX 358 (S Padre Island Drive) and Kostoryz Road (Combined 144,335 VPD)
  • Established Retail and Auto-Service Corridor With National Co-Tenancy
  • Corporate Guarantee — Wholly-Owned Operation of 7-Eleven, Inc.
  • Trade Area With 207,549 Residents and 211,629 Daytime Population (Five-Mile Radius)
  • Corpus Christi MSA | Home to the 3rd-Largest U.S. Port and NAS Corpus Christi
  • Corpus Christi Draws Nearly 10 Million Visitors Annually
  • Property Qualifies for 100% Bonus Depreciation (Consult your Tax Professional)

Jake Stammen

Associate Director
(972) 755-5209
jake.stammen@marcusmillichap.com
License: TX 767420

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
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