| The Property
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The property is a high performance dual-branded 7-Eleven and McDonalds location. The building is 60% occupied by 7-Eleven and 40% by McDonalds. The property fronts Interstate 70 and has traffic counts of more than 42,000 cars per day. The site has direct access from Interstate Exit 421 at Fayette Avenue in North Belle Vernon, PA. Both the 7-Eleven and McDonalds operations generate very strong sales |
Property
Description |
Rentable Area: |
3,973 (sf) |
Land Area: |
34,325 (sf) |
No. of Parking Spaces: |
37 |
Frontage: |
184' on Fayette Avenue |
Lease
Terms |
Prime Lease: |
Prima Marketing, LLC |
Expiration Date: |
7/31/2020 |
Tenant Responsibilities: |
Absolute NNN |
Landlord Responsibilities: |
None |
Percentage Rent: |
N/A |
Real Estate Taxes: |
$14,225.54 FY 2009 |
Base Rent: |
$118,767 |
Escalations: |
Annual 1.75% min/CPI |
| Options: |
4, 5-year Options |
| Sublessee |
McDonalds Corporation |
| Initial Term |
10 Years approximately 18 months remaining |
| Options |
3, Five-Year Options |
| Rental (all rentals paid to 7-Eleven) |
$55,000 or 5% of gross sales whichever is less |
Demographics (2009) |
| |
3 Miles |
5 Miles |
| Population: |
30,226 |
50,253 |
| Households: |
13,547 |
21,788 |
| Avg. H. H. Inc: |
48,145 |
50,966 |
About N. Belle Vernon, Pennsylvania |
The subject property is located in the city of North Belle Vernon within Westmoreland County at the southeast corner of Fayette Avenue and Interstate 70. North Belle Vernon is a small town located along the Interstate 70 Freeway. Adjacent and nearby towns include Pricedale, Belle Vernon, Charleroi, Monessen, and Dunlevy (to name a few). The Monongahela River intersects the area and serves as the eastern border of North Belle Vernon. The town includes residential neighborhoods along with a variety of commercial uses and some industrial uses. A current trend of modest growth is expected to continue. |
About
7-Eleven |
7-Eleven is the world’s largest operator, franchisor and licensor of convenience stores. Based in Dallas, Texas, the company operates, franchises and licenses more than 6,970 stores in the U.S. and Canada. Internationally, 7-Eleven licensees and affiliates operate more than 29,300 7-Eleven and other convenience stores.
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McDonald's is the leading global foodservice retailer with more than 32,000 local restaurants serving more than 60 million people in 117 countries each day, up 2 million per day over the prior year. Throughout 2009, McDonald's U.S. sales outpaced the overall quick-service restaurant industry and drove market share increases. |
About The Tenant |
Prima Marketing, LLC the tenant, owns or operates 88 convenience stores. Prima manages 75 of these facilities as 7-Eleven convenience stores. and is one of only six licensees in the U.S. Prima has an exclusive 25-year renewable licensing arrangement with 7-Eleven and retails its gasoline under brand names such as BP, Chevron, Marathon, Pennzoil and Citgo.
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Building & Site Analysis |
The 34,325 square foot site consists of one parcel at street grade with an irregular shape. This level, corner site has good visibility along Fayette Avenue. There is about 184 feet of frontage along Fayette Avenue.
Fayette Avenue is a north/south artery with one lane of traffic in each direction. The street has a variable right-of-way and a curb-to-curb distance of 30 feet. There are two driveways to the subject accessible from traffic in both directions on this street.
The building is 3,973 square feet in size, 60% of which is utilized by 7-Eleven and 40% by McDonalds. The sales area has a multi-door cooler along one wall. There are merchandise racks on the center floor in addition to the cashier area, restroom, and other utility areas.
Toward the north side of the site is a 28’ x 98’ Class “S” canopy covering four gasoline islands with eight fueling positions. There are two double-sided MPDs, one on each of the four fueling islands. Positioned under a concrete slab south of the fueling islands are two 20,000-gallon fuel storage tanks. |
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