For Sale
$6,540,000

5107 Manor RdAustin, TX 78723

High-yield 7-Eleven, 15-year lease, Austin, TX.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a 7-Eleven convenience store and gas station in Austin, Texas. The property boasts a newly executed 15-year absolute NNN lease with four 5-year renewal options, ensuring long-term, stable income. The lease includes 10% rent bumps every five years, providing a hedge against inflation. Located on a hard corner with high visibility at a signalized intersection averaging 42,800 vehicles per day, the 4,191 square foot property benefits from a strong consumer base within a densely populated residential area, including proximity to the Mueller Tower District. The 0.85-acre lot features 12 gas pumps. The property offers a 5.00% cap rate with a Net Operating Income (NOI) of $327,022 and an asking price of $6,540,000 ($1,560.49/sq ft). Built in 2023, this asset is ideally suited for a passive investor seeking a management-free investment in a state with no state income tax. The tenant, 7-Eleven, Inc., is a premier name in convenience retailing, providing significant corporate backing and stability. The 5-mile radius boasts over 328,000 residents and 313,000 employees, with an average household income within 1 mile exceeding $135,482. The property's location is approximately 6 miles from downtown Austin. This is a truly exceptional opportunity to acquire a high-performing, low-maintenance asset in one of the nation's fastest-growing metropolitan areas. Lease commencement is November 1, 2023.

Highlights

  • 15-Year Lease with four 5-year options.
  • 10% rental increases every 5 years and at each option period.
  • Corporate-signed lease by 7-Eleven, Inc.
  • Absolute NNN lease; fee simple ownership; no landlord responsibilities; no state income tax.
  • Hard corner, signalized location (43,800 VPD) in Austin's Mueller Tower District, near dense residential population and 6 miles from downtown.
  • 5-mile trade area with over 328,000 residents and 313,000 employees; $135,482 average household income within 1-mile radius.

Property Details for 5107 Manor Rd

Property type
Retail properties, Grocery and convenience stores
Square Feet
4,191 SF
Year Built
2023
Lot Size (sq. ft)
37,026 SF

Location Insight

City
Austin
County
Travis
State
Texas
Latitude
30.297755971812
Longitude
-97.686203851969
5107 Manor Rd, Austin, Texas

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5107 Manor Rd
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