2400 Pleasantville RdFallston, MD 21047

For Sale
$2,340,000

High-performing 7-Eleven, strong lease terms.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 7-Eleven convenience store and gas station located at 2400 Pleasantville Rd, Fallston, MD 21047, in Harford County. The property boasts a brand-new 15-year corporate ground lease with 7-Eleven, Inc., featuring a 5.00% cap rate and a Net Operating Income (NOI) of $117,000. The lease includes 10% rent bumps every five years and three, five-year renewal options, ensuring consistent income growth. Situated on a substantial 1.13-acre (49,223 sq ft) lot, this location has a proven track record, operating for over 45 years. Remarkably, this 7-Eleven ranks in the top 13% of all 7-Eleven locations nationwide in terms of customer visits, according to Placer.ai. The property benefits from an extremely affluent surrounding area, with average household incomes exceeding $181,788 within a three-mile radius. This absolute NNN ground lease offers a secure, passive income stream with significant upside potential, making it an ideal addition to any investment portfolio. The asking price is $2,340,000.

Highlights

  • NNN ground lease, single-tenant 7-Eleven in affluent Baltimore MSA.
  • New 15-year lease extension with 7-Eleven corporate guarantee.
  • 10% rent increases every five years throughout the lease term.
  • 45+ years of continuous operation at this location.
  • Ranked in the top 13% of all US 7-Eleven stores by foot traffic (Placer.ai).
  • Large 1.13-acre parcel including gas station; new 7-Eleven gas stations command triple the current rent.

Location Insight

City
Fallston
County
Harford
State
Maryland
Latitude
39.531751
Longitude
-76.447022
2400 Pleasantville Rd, Fallston, Maryland

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2400 Pleasantville Rd
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