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Single Tenant NNN LEASED INVESTMENT

7-ELEVEN WITH FUEL Puyallup • WA

CONTACT: Blake D. Federinko 360.823.5111 Blake@MAJCRE.com

Brandi M. Ho 360.823.5112 Brandi@MAJCRE.com

Michael A. Jenkins 360.823.5102 Mike@MAJCRE.com

Tim Weber 253.471.5502

TWeber@firstwesternproperties.com


Confidentiality & Disclaimer This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the MAJ Commercial Real Estate affiliate or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.


Table of Contents 06 07

08 10 11

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Property Summary Investment Highlights Property Photos Lease Abstract Tenant Overview Rent Roll Operating Statement Cost Segregation Site Plan Demographics Aerial Puyallup at a Glance


MAJ Commercial Real Estate Is pleased to present the opportunity to acquire a Single Tenant Net Leased Investment located in Puyallup, Washington. The newly developed property, consisting of a convenience store and fueling station, is leased to 7-Eleven Corporate on a new 15year NNN Lease. Located adjacent to Jailen’s Place, a 78-unit apartment community, and in close proximity to Walmart Supercenter, Fred Meyer, Kohls, Bank of America, Pierce County Airport-Thun Field and many more.


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P V 0 0 0 , 8 2 6TH ST. -

Jailen’s Place 78-Unit Multi-Family Community -Under Construction-


Property Summary

7-Eleven PUYALLUP • WA

$4,544,444 PRICE

CLICK HERE TO ENTER STREET VIEW

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Single Tenant NNN Leased Investment

4.50% CAP


Investment Highlights

Property Summary PROPERTY ADDRESS: SWC 176th St & 76th Ave Puyallup, WA 98375 Tenant: 7-Eleven Lease Type: NNN Year Built: 2020 Building Size: 3,000 SF Land Size: 41,375 SF Construction: Masonry

Investment Highlights Income Tax Free State

Located Near JBLM with more than 250,000 Military Residents

Newly Developed

15-Year NNN Lease w/ Rent Increases

Completion Date: November 2020

7-Eleven | Puyallup • WA

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Property Photos

8

Single Tenant NNN Leased Investment


Property Photos

7-Eleven | Puyallup • WA

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Lease Abstract

7-Eleven PUYALLUP • WA

Taxes

TENANT RESPONSIBLE

Insurance TENANT RESPONSIBLE

Rent Schedule PERIOD

ANNUAL RENT

ADJUSTED CAP RATE

2020

$204,500.04

4.50%

2025

$224,950.04

4.95%

2030

$247,445.28

5.45%

1st Option

$272,189.76

5.99%

2nd Option

$299,408.76

6.59%

3rd Option

$329,349.60

7.25%

4th Option

$362,284.56

7.98%

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Single Tenant NNN Leased Investment

CAMs

TENANT RESPONSIBLE

Utilities

TENANT RESPONSIBLE

CLICK HERE TO ENTER STREET VIEW


Tenant Overview

Lease Summary

LEASE GUARANTOR: 7-Eleven Corporate

PROPERTY ADDRESS: SWC 176th St & 76th Ave Puyallup, WA 98375

S&P CREDIT RATING: AA-

Guarantor: 7-Eleven Corporate

WEBSITE: www.7-Eleven.com

Ownership Type: Fee Simple Term: See Enclosed Rent Roll Extended Terms: 4, 5-Year Options Lease Type: NNN Lease Landlord Responsible: Latent Defects

NUMBER OF LOCATIONS: 70,000 +/HEADQUARTERS: Irving, TX

7-Eleven is the world’s #1 convenience store with sales of $89 billion in 2016. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 63,000 stores in 18 countries, including 10,900 in North America. 7-Eleven focuses on meeting the needs of convenience-oriented customers by providing a broad selection of fresh, high quality products and services at everyday fair prices, speedy transactions and a clean and friendly shopping environment. Each store’s selections of about 2,500 different products and services is tailored to meet the needs and preferences of local customers. 7-Eleven offers customers industry-leading private brand products under the 7-Select brand including healthy options, decadent treat and every favorites, at an outstanding value. Customers also count on 7-Eleven for payments services, self service lockers and other convenient services.

7-Eleven | Puyallup • WA

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Rent Roll Term

Monthly Rent

Annual Rent

2020

$17,041.67

$204,500.04

2025

$18,745.84

$224,950.04

2030

$20,620.44

$247,445.28

1st Option

$22,682.48

$272,189.76

2nd Option

$24,950.73

$299,408.76

3rd Option

$27,445.80

$329,349.60

4th Option

$30,190.38

$362,284.56

4, 5-YEAR Options

10% Rent

Increases Annually

Triple Net Lease Type

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Single Tenant NNN Leased Investment


Operating Statement Less Operating Expenses CAMs

Tenant

Property Taxes

Tenant

Insurance

Tenant

Total Expenses

($0.00)

$204,500.04

$204,500.04

SCHEDULED INCOME

NET OPERATING INCOME

$4,544,444.00

4.50%

SALE PRICE

CAP RATE

7-Eleven | Puyallup • WA

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Cost Segregation

What is a Cost Segregation AND HOW IT BENEFITS YOU

Cost segregation is a process through which particular portions of real estate can be reclassified for depreciation purposes. The main objective of a cost segregation study is to move as much depreciable basis as possible from 39 year (commercial property) or 27.5 year (residential property) assets to 5, 7 or 15 year property.

Benefits Provide a significant increase in after-tax cash flow through reduced federal/state income taxes by accelerating deprecation Increased depreciation in earlier years Creates losses so you can carry-back if needed and carry-forward when applicable The cost is relatively inexpensive compared to the ultimate savings

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Single Tenant NNN Leased Investment


Cost Segregation

Eligible Properties Apartment Buildings Auto Dealerships

Manufacturing Facilities Nursing Homes

Casinos

Office Buildings

Banks

Restaurants

Daycare Centers

Retail Stores & Plazas

Distribution Centers

Ships, ocean cargo vessels

Gas Stations Hospitals Hotels

Truck Terminals Warehouses

**Subject property qualifies for tax savings through accelerated depreciation vis cost segregation.

For More information on a Cost Segregation Gregory A. Damico, CPA (360) 750.6884 ext. 104 gdamico@taxadvisorscpa.com www.TaxAdvisorsCPA.com 7-Eleven | Puyallup • WA

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Site Plan

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Single Tenant NNN Leased Investment


Site Plan

7-Eleven | Puyallup • WA

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Demographics

Key Facts

78,785 3.0

AVG. HOUSEHOLD SIZE

MEDIAN AGE

34.7

$93,621

Average Household Income

Business

1,217

TOTAL BUSINESSES

11,886

TOTAL EMPLOYEES

Income

$93,621 $851,826 $303,957 Average Household Income

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Consumer Spending (In Thousands)

Median Home Value

Single Tenant NNN Leased Investment

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Demographics

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0 VP 0 0 , 8 2 . T 6TH S

Jailen’s Place 78-Unit Multi-Family Community -Under Construction-

7-Eleven | Puyallup • WA

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Aerial

Subject Property

Boeing

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Single Tenant NNN Leased Investment


Aerial

Pierce County Airport

7-Eleven | Puyallup • WA

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Puyallup, WA The City of Puyallup is situated at the foot of scenic Mount Rainier in the beautiful Puget Sound region 10 miles east of Tacoma and approximately 35 miles south of Seattle. It’s an easy commute on Sound Transit’s Sounder train to Tacoma, Seattle and many cities in between. In its early years, Puyallup was known for its hops, berries and flowers. Today many events, such as the Washington State Fair, the Daffodil Festival and Parade, and the Puyallup Farmers Market pay tribute to the city’s agricultural past. But

78,785 RESIDENTS

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1,217

BUSINESSES

Single Tenant NNN Leased Investment

11,886 JOBS

26,354 HOUSEHOLDS


PUYALLUP at a Glance

78,785

1,217

RESIDENTS

DOING BUSINESSE IN LAKEWOOD

11,886 JOBS

26,354

34.7

$93,621

MEDIAN AGE

HOUSEHOLDS

AVG HOUSEHOLD INCOME

Puyallup is home to the Washington State Fair. The Washington State Fair is also one of the ten largest fairs in the country, attracting over 1 million people a year. 1890 Italianate Victorian home of Oregon Trail pioneer Ezra Meeker and his wife Eliza Jane Meeker. Known as the Hop King, he ultimately lost a fortune due to a disease in the hops. Today it is a small house museum owned and operated by the Puyallup Historical Society at Meeker Mansion

7-Eleven | Puyallup • WA

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EXCLUSIVELY MARKETED BY: Blake D. Federinko 360.823.5111 Blake@MAJCRE.com Brandi M. Ho 360.823.5112 Brandi@MAJCRE.com Michael A. Jenkins 360.823.5102 Mike@MAJCRE.com Tim Weber 253.471.5502 TWeber@firstwesternproperties.com

Profile for Blake Federinko

7-Eleven Puyallup  

7-Eleven Puyallup  

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