31997 Beaver Run Dr Salisbury, MD 21804
- Grocery and convenience stores
- 1,855 SF
- 2.67 lot acres
Current Use by Public Records
- Sunoco Gas Station / Convenience Store / Gas Station
- 7-Eleven / Convenience Store
Property Details for 31997 Beaver Run Dr
- Year built
- 1994
- Construction
- BRICK
- Lot size
- 2.67 lot acres
- Property size
- 1,855 SF
- Zone code
- M1
- Property type
- Grocery and convenience stores
- APN
- 05-106370
- APU
- 5106370
Description
This exceptional investment opportunity presents a newly constructed 7-Eleven convenience store and gas station in Salisbury, Maryland. Located at 31997 Beaver Run Dr, Salisbury, MD 21804, this property boasts a 15-year absolute NNN lease with four, five-year renewal options, commencing May 1, 2024, and expiring April 30, 2039. The lease includes a substantial 10% rent increase every five years, providing significant long-term growth potential. The 4,505 square foot building sits on a 2.67-acre lot and features eight gas pumps. The property benefits from a 100% occupancy rate and a strong net operating income (NOI) of $428,426, yielding a 5.35% cap rate. The tenant, 7-Eleven, Inc., is investment grade rated A, providing exceptional creditworthiness and security. The property's location enjoys high visibility and traffic, with an average daily traffic count of 30,611 vehicles. This is a turnkey investment with accelerated depreciation benefits, making it an attractive opportunity for discerning investors seeking a stable, high-yielding asset. The asking price is $8,008,000, translating to $1,777.58 per square foot. The property is zoned commercial and was built in 2024. This is a single-tenant, single-story building.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,620,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,040,000
- 6.5%
- $2,025,000
- 7%
- $2,070,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,785,000
- Geo Method
- $1,845,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,785,000
- Retail
- $1,930,000
- Mixed-Use
- $1,790,000
- Hospitality
- $1,930,000
- Educational
- $2,175,000
- Residential Income
- $2,095,000
- Energy
- $1,910,000
- Income-Based Land
- $2,400,000
- Food Service
- $2,150,000
Location Insight
- Map
- Local Demand
- City
- Salisbury
- County
- Wicomico
- State
- Maryland
- Longitude
- -75.5033
- Latitude
- 38.3762
- CBSA code
- 41540
- CBSA name
- SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA
