1857 Princeton Kenly RdKenly, NC 27542

Property Details for 1857 Princeton Kenly Rd

Year built

2024

Lot size

9.61 AC

Property size (Sq ft)

4,867 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 2024-constructed 7-Eleven convenience store and gas station in Kenly, North Carolina. Located on a substantial 9.61-acre lot at 1857 Princeton Kenly Rd, 27542, this property boasts a large format design, including a Raise the Roost restaurant, and features 21 gas pumps, with dedicated diesel pumps to cater to commercial vehicles. The property benefits from its strategic location off Interstate 95, a major transportation artery, placing it within easy reach of significant population centers. The current tenant, 7-Eleven, holds a 15-year absolute NNN lease with four 5-year renewal options, providing long-term stability and predictable cash flow. The lease includes a 10% rent increase every five years during both the primary term and option periods, offering protection against inflation. The property's strong financial performance is reflected in its $10,180,952 asking price, 5.25% cap rate, and a substantial net operating income (NOI) of $534,500. With 4,867 square feet of space and 100% occupancy, this is a truly exceptional, management-free investment opportunity. The corporate guarantee provides added security, and the property's size and location make it an ideal investment for passive investors seeking strong returns. All taxes, insurance, and common area maintenance are the responsibility of the tenant.

Location Insight

City

Kenly

County

Johnston

State

North Carolina

Latitude

35.5739

Longitude

-78.1449

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