Available Property
Stripes / 7-11
1610 South F Street @Expressway 83
Harlingen, Texas 78550
$5,964,900
The subject property is a single tenant 7-Eleven (dba Stripes) convenience store located in Harlingen, Texas. 7-Eleven operates under the banner Stripes, a legacy brand acquired by the company in 2017. The property consists of a newly constructed ± 4,842 sf retail / convenience store, with 8 MPDs under canopy, at 1610 South F Street and Expressway 83. Included within the building is 7-Eleven’s proprietary, Laredo Taco Company Tex-Mex restaurant. This is a relocation store of a successful smaller store nearby who’s lease is nearing its expiration. Stripes anticipates this to be a very high volume location based on historical sales and the fiercely loyal customer base Stripes enjoys in the Rio Grande Valley. Stripes encompasses the entire ± 2.46 acre triangular parcel bounded by Expressway 83, F Street and Botts Park Drive. Harlingen is one of the largest cities (pop. 72,000) in the Rio Grande Valley and one of the top markets for Stripes convenience stores. This strategic location along the frontage road and entrance to Expressway 83 with daily traffic counts of more than 100,000 vehicles per day was identified by 7-Eleven for this new, large format development. The corporate, absolute net lease is ideally structured for a passive investor seeking a reliable, long-term income stream from the industry leading, credit tenant. Rent increases occur every 5 years of the primary term and in each of the 5 x 5 year renewal options. This property is eligible for additional tax saving advantages created by the 2017 Tax Cuts and Jobs Act. Consult your legal and tax advisor to determine how you can benefit from increased tax savings to shelter income.
Tenant: 7-11 Inc.
Founded as the world’s first convenience store from the dock of an icehouse in Dallas in 1927, 7-Eleven has grown to become a global brand operating and franchising more than 13,000 locations in North America and 84,000 locations across 19 countries. The company name is derived from their original operating hours of 7 am to 11 pm, although most locations are now open 24 hours a day, 7 days a week. 7-Eleven Inc. operates a family of banners and brands including Stripes, Speedway, Laredo Taco Company & Raise the Roost Chicken and Biscuits in locations throughout the United States. Now the world’s largest convenience retailer, 7-Eleven helped pioneer the franchise model consistently ranking as a top-10 Franchisor. The Company maintains an A credit rating - one of the highest credit ratings for any U.S. retailer. 7-Eleven is wholly owned by Seven & I Holdings Co. Ltd., a Japan based diversified retail group. 7-Eleven has scaled growth organically and through large acquisitions including buying Sunoco and Marathon Petroleum. According to 7-Eleven’s financial reports, the company enjoyed worldwide revenue of $87 billion, with North American stores contributing approximately $31 billion. Stripes Convenience Stores operates predominantly in Texas and Louisiana. Food offerings are available in more than 450 of its stores, primarily under the proprietary Laredo Taco Company® brand. In January 2018, 7‑Eleven acquired 1,030 Stripes Stores. Stripes was founded in 1938 in Corpus Christi, Texas.
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