7-Eleven & Speedway Net-Lease Portfolio19 Individually Available NNN Investments
7-Eleven & Speedway Net-Lease Portfolio19 Individually Available NNN Investments
2500 N Saginaw Rd, Midland, MI
| Asking price | $6,456,937 |
| Cap rate (in-place) | 5.25% |
| Annual base rent (NOI) | $338,989 |
| Base rent $/SF | $108.10 |
| Price $/SF | $2,058.97 |
| Tenant | 7-Eleven, Inc. |
| Guarantor | Corporate (7-Eleven Inc.) |
| Lease structure | Absolute NNN |
| Lease expiration | 2038-12-31 |
| Remaining term | 12.4 yrs |
| Rent escalations | 1.0% annual |
| Rent at expiration (illus.) | $378,200 * |
| Avg yield on asking (illus.) | 5.55% * |
| Building SF | 3,136 |
| Year built | — |
* Illustrative — assumes escalations from the as-of date; exact bump dates follow the lease.
Flex the assumptions — everything recomputes live. Base case: 60% LTV · 6.50% · 25-yr amortization.
At this asset’s 5.25% cap, any debt priced above the cap rate lowers current cash-on-cash versus an all-cash purchase (negative leverage); the cash-on-cash tile turns red when that occurs. Illustrative only — not a financing commitment or an offer of credit.
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 6,469 | 33,283 | 50,753 |
| Households | 2,685 | 13,949 | 21,097 |
| Pop. density (/sq mi) | 2,059 | 1,177 | 646 |
| Avg HH income | $147,503 | $106,686 | $104,216 |
| Poverty rate | 5.2% | 9.4% | 10.0% |
| Bachelor's+ | 50.6% | 48.1% | 43.1% |
| Median home value | $254,500 | $198,767 | $190,950 |
| Median rent | $922 | $1,108 | $1,040 |
| Median age | 32 | 38 | 39 |
| Owner-occupied | 65.8% | 69.9% | 72.3% |
7-Eleven, Inc. — a wholly-owned subsidiary of Seven & i Holdings Co., Ltd. (TYO: 3382) and the largest convenience-store operator in the world — carrying investment-grade credit (S&P A- / Moody’s Baa2; parent Seven & i rated S&P A- / Moody’s A3). The Ann Arbor asset operates under the Speedway brand, also a 7-Eleven, Inc. entity.
7-Eleven is the world’s largest convenience-store retailer, operating, franchising, or licensing more than 85,000 stores across roughly 20 countries — including over 12,000 in the United States, where the 7-Eleven, Speedway, and Stripes banners together form the nation’s largest convenience chain by store count, ahead of Circle K and Casey’s. The U.S. business, 7-Eleven, Inc., is headquartered in Irving, Texas and is a wholly-owned subsidiary of Seven & i Holdings Co., Ltd. (TYO: 3382). Both entities carry investment-grade credit — 7-Eleven, Inc. is rated S&P A- / Moody’s Baa2 and parent Seven & i is rated S&P A- / Moody’s A3 — placing this income stream on the credit of one of retail’s most recognized and financially substantial operators. Seven & i has announced plans to list its North American convenience business publicly in 2026, a step expected to further sharpen the focus and transparency of the tenant behind these leases.
For net-lease investors, 7-Eleven is a benchmark tenant. Its stores are typically held on long-term absolute / triple-net leases — the tenant bears property taxes, insurance, and maintenance, leaving the landlord a passive, bond-like income stream — with contractual rent escalations (commonly 10% every five years) that hedge inflation over the term. Convenience, fuel, and food are necessity-based, largely e-commerce-resistant categories that have historically proven resilient across economic cycles. Investment-grade 7-Eleven net-lease assets have traded in roughly the 5.5%–6.5% cap-rate range in 2026, and deep institutional demand — from REITs, private equity, and family offices — for corporate-guaranteed 7-Eleven product supports both durable in-place income and a well-established exit. Every lease in this portfolio carries a 7-Eleven, Inc. corporate guaranty, so the rent obligation rests on the parent operating company’s credit rather than the performance of any single store.
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