Current Use by Public Records
- Retail properties & Spaces
Property Details for 190 And Merritt Rd
- Year built
- 2024
- Lot size
- 2.10 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 4,761 square foot 7-Eleven convenience store and gas station, built in 2024, situated on a 2.1-acre lot at the signalized hard corner of Highway 190 and Merritt Road in Sachse, Texas (zip code 75048). The property boasts excellent visibility and accessibility, with over 89,900 vehicles passing daily. A 15-year absolute net corporate lease with 7-Eleven, a tenant with an investment-grade credit rating (A by S&P and Baa2 by Moody's), is in place, featuring 7.5% rent escalations every five years and four 5-year renewal options. The lease commenced December 10, 2024, and includes zero landlord responsibilities. The store features sixteen 7-Eleven branded gas pumps. This location benefits from its proximity to major retailers like The Home Depot, Kroger, and others, as well as 600 apartment units and the future Station mixed-use development. The average household income within a 3-mile radius exceeds $145,100, reflecting a strong and affluent market. The asking price is $9,304,000, representing a 5.00% cap rate. This is a turnkey investment with significant long-term potential in a rapidly growing area of North Dallas. The property's masonry construction ensures durability and longevity.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sachse
- County
- Dallas
- State
- Texas
- Longitude
- -96.5708
- Latitude
- 32.9517
