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OHIO 7-ELEVEN PORTFOLIO

& WISCONSIN WALGREENS

12 CORPORATE 7-ELEVEN LOCATIONS IN THE CLEVELAND MSA & WALGREENS IN MILWAUKEE
DOWNLOAD OFFERING MEMORANDUM
Location Map

OFFERING SUMMARY

Matthews Real Estate Investment Services ™ is pleased to exclusively offer for sale a portfolio consisting of 12 Corporate 7-Eleven Gas & Convenience Stores and Single Walgreens in Milwaukee, WI.  The entirety of the 7-Eleven locations are spread out throughout Northeast Ohio (Cleveland) with some notable high income areas including; Chagrin Falls, Mentor, Stow, Strongsville, Brunswick, Twinsburg, among others (See Property Location Summary).  The portfolio comprises 13.22 total acres and 45,553 total square-feet of rentable area.  Please note that Streetsboro & Painesville 7-Elevens are presently dark.

PORTFOLIO SUMMARY

dollar (1)-1

LIST PRICE

$41,500,000

sales

NOI

$2,596,557

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TOTAL SF

±49,172

TENANT ADDRESS CITY AC SF EXPIRATION TERM REMAINING RENTAL INCREASE DATE NEW NOI
7-Eleven 8775 Darrow Road Twinsburg 0.59 2,340 5/31/2029 6.08 Years 6/1/2023 $111,549 
7-Eleven 17644 Chillicothe Road Chagrin Falls 0.84 1,800 5/31/2029 6.08 Years 6/1/2023 $274,932 
7-Eleven 2865 Bishop Road Wickliffe 2.39 5,224 5/31/2029 6.08 Years 6/1/2023 $148,794 
7-Eleven 2481 SOM Center Road Willoughby 1.37 4,136 5/31/2029 6.08 Years 6/1/2023 $176,808 
7-Eleven 1035 E. 185th Street Cleveland 0.74 2,755 5/31/2029 6.08 Years 6/1/2023 $100,242 
7-Eleven 15 Pearl Road Brunswick 1.51 2,496 5/31/2029 6.08 Years 6/1/2023 $173,041 
7-Eleven 959 Steeles Corners Stow 1.63 2,591 5/31/2029 6.08 Years 6/1/2023 $149,629 
7-Eleven 5711 Heisley Road Mentor 1.03 1,176 5/31/2029 6.08 Years 6/1/2023 $219,577 
7-Eleven 1614 Merriman Road Akron 0.64 2,477 5/31/2029 6.08 Years 6/1/2023 $279,911 
7-Eleven 16625 Royalton Road Strongsville 1.98 5,978 5/31/2029 6.08 Years 6/1/2023 $251,558 
7-Eleven - Dark 8 E Erie Street Painesville 0.36 1,070 5/31/2029 6.08 Years 6/1/2023 $126,755 
7-Eleven - Dark 9202 State Road 14 Streetsboro 0.91 1,389 5/31/2029 6.08 Years 6/1/2023 $108,641 
Walgreens 2625 W National Ave Milwaukee 1.34 15,740 7/31/2031 8.33 Years - $475,120 
15 Pearl Rd, Brunswick, OH - 2 - Edited-1

CORPORATELY BACK 7-ELEVENS

In 2012 7-Eleven Corporate acquired all the locations from another operator and spent substantial capital converting them to the brand.  The 7-Eleven properties have over 6 years remaining on their Absolute NNN leases with no landlord responsibilities. The leases are subject to annual 2% rental increases starting on 6/1, with Four (4) Five (5) Year Options.
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WALGREENS - MILWAUKEE

Walgreens has just over 8 years remaining on their original 25-year absolute NNN lease.  This location (W National Drive) is infill Milwaukee, and the 1.32 AC parcel runs an entire block (W National Ave & S Layton Blvd). Included in the same parcel is a small 1,000 SF building occupied by Metro PCS (Giant Communications (40 + Unit Operator). All expenses (besides roof & structure) are covered by Metro PCS.  
 
 
 

BONUS DEPRECIATION

Gas Stations qualify for bonus depreciation, which allows for the write off on the purchase year one - consult your CPA to discuss further.   
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INVESTMENT GRADE TENANTS

7-Eleven is one of the largest retailers in the world with over 54,000 stores across the world and visited by over 55 million unique customers daily. 7-Eleven carries an AA- S&P Rating. Walgreens is the largest drugstore chain in the US with over 8,000 drugstores in operation, over 2/3 of their sales come from Prescription Drugs.  Walgreens has an investment grade credit rating of BBB.

LOCATION OVERVIEW

The 12 locations are inside some of Northeast Ohio’s highest income suburbs within Cleveland, OH MSA.  Very Strong demographics with above average Median Household income in most locations (See Below).
  • Chagrin Falls AHHI: ($84,762)
  • Brunswick AHHI: ($82,601)
  • Mentor AHHI: ($79,261)
  • Twinsburg AHHI: ($85,625)
  • Willoughby AHHI: ($73,385)
  • Strongsville AHHI: ($90,377)
  • Willoughby Hills AHHI: ($80,817)
  • Stow AHHI: ($80,523)
  • Akron AHHI: ($42,129)
  • Cleveland (City) AHHI: ($33,678)
  • Streetsboro AHHI: ($70,725)
  • Painesville AHHI: ($47,259)
DOWNLOAD OFFERING MEMORANDUM

EXCLUSIVELY LISTED BY:

jonah yulish circle headshot 2022

JONAH YULISH
Senior Associate

DIR: (216) 503-3610
MOB: (216) 973-1882
jonah.yullish@matthews.com
License No. 2018004451 (OH)

rob goldberg headshot circle 2022

ROB GOLDBERG
Senior Associate

DIR: (954) 237-4510
MOB: (216) 470-1464
rob.goldberg@matthews.com
License No. 2018005194 (OH)

Circle Headshot Resize - Jack Quigley

JACK QUIGLEY
Associate

DIR: (216) 373-1450
MOB: (440) 708-4503
jack.quigley@matthews.com

BROKER OF RECORD
Kyle Matthews | License No. REC.2022007141 (OH)
Matt Fitzgerald | License No. 938105-91 (WI)