7-Eleven NNN Loansfrom 6.35 percent, file specific Non-Recourse 10-Year Fixed CMBS
7 Eleven Inc. is A minus from S&P and Baa2 from Moody's. Parent Seven and i is A minus from S&P and A3 from Moody's, both cut in 2025. That sits above CVS at BBB. Walgreens has been unrated since 28 August 2025. Environmental diligence adds 30 days to close on gas pump properties. PeerSense sources capital through a curated network of commercial lenders and capital sources.
15 yr base leases · corner lot real estate · investment grade parent · convenience and gas · 2,800 to 3,500 SF · 1031 exchange ready.
Last updated: ·By Ed Freeman, Capital Advisor. PeerSense
What are typical 7-Eleven NNN rates?
There is no single 7 Eleven NNN coupon. Stabilized CRE CMBS starts from 6.35 percent as of 1 August 2026. 7 Eleven Inc. is A minus from S&P and Baa2 from Moody's. Parent Seven and i is A minus from S&P and A3 from Moody's, both cut in 2025. That sits above CVS at BBB. Walgreens has been unrated since 28 August 2025. Environmental diligence (Phase II UST testing) adds 30 to 60 days to close on gas pump properties. PeerSense sources capital through a curated network of commercial lenders and capital sources.
As of 26 August 2026. A rating needs an as of date. Next check 24 November 2026. PeerSense sources capital through a curated network of commercial lenders and capital sources.
7-Eleven, Credit Profile & NNN Investment Characteristics
7 Eleven Inc. is a wholly owned subsidiary of Seven and i Holdings Co. (TYO: 3382), a Japanese retail conglomerate operating the world's largest chain of convenience stores, over 80,000 globally and approximately 13,000 in North America (including Speedway, acquired 2021). 7 Eleven Inc. is A minus from S&P and Baa2 from Moody's. Parent Seven and i is A minus from S&P and A3 from Moody's, both cut in 2025. Not a naked A.
7-Eleven's NNN lease template is 15 years base term with 4 five-year renewal options (35 years fully extended). Typical prototype is a 2,800–3,500 SF convenience store with or without gas pumps, on a 0.75–1.25 acre corner pad with high traffic count. Corporate guarantee executed by 7-Eleven Inc. with parent-level backing by Seven & i Holdings.
For NNN financing, 7-Eleven is the gold-standard convenience store credit tenant, tighter pricing than Circle K (BBB+) and materially tighter than Wawa / QuikTrip (private, unrated). Gas-pump properties trigger mandatory Phase II environmental assessment (USTs / underground storage tanks), adding $25K–$75K to closing costs and 30–60 days to closing timeline. Properties without gas pumps close on the standard NNN timeline. Key 2026 underwriting questions: (1) environmental history / any past leaks, (2) remaining lease term, (3) corner-lot demographics and traffic count, (4) is it operating as 7-Eleven branded or sub-branded (Speedway).
7-Eleven NNN vs. Peer Credit Tenants, How 7-Eleven Prices
Every NNN lender underwrites the tenant first, the real estate second. Here is how 7-Eleven compares to peer credit tenants as of 26 August 2026. Coupon and leverage are lender underwriting.
7 Eleven A minus (S&P) / Baa2 | Circle K BBB+ (S&P) | Wawa Private (Unrated) | QuikTrip Private (Unrated) | Speedway (7 Eleven owned) A minus via parent | |
|---|---|---|---|---|---|
| Credit as of 26 August 2026 | A minus / Baa2 | BBB+ / Baa1 | Private. Unrated. | Private. Unrated. | A minus / Baa2 via parent |
| Max LTV | Lender underwriting | Lender underwriting | Lender underwriting | Lender underwriting | Lender underwriting |
| Min DSCR | 1.25x | 1.30x | 1.35x | 1.35x | 1.25x |
| Asking cap / closed (where sourced) | File specific | File specific | File specific | File specific | File specific |
| Standard Base Lease | 15-yr | 15-yr | Sale-leaseback varies | Owner-operated (rare NNN) | 15-yr |
| Environmental Diligence (USTs) | Phase II required on gas stores | Phase II required | Phase II required | Phase II required | Phase II required |
| Guarantor Structure | Corporate parent (Seven & i Holdings) | Corporate parent (Couche-Tard) | Private, limited transparency | Private, limited transparency | Corporate parent (Seven & i) |
| 1031 Exchange Suitability | Excellent | Excellent | Good (if sale-leaseback) | Limited availability | Excellent |
| Typical Loan Size | $10 million and up | $2M – $8M | $3M – $10M | $2M – $7M | $3M – $12M |
Credit as of 26 August 20267 Eleven: A minus / Baa2
- 7 ElevenA minus (S&P) / Baa2
- A minus / Baa2
- Circle KBBB+ (S&P)
- BBB+ / Baa1
- WawaPrivate (Unrated)
- Private. Unrated.
- QuikTripPrivate (Unrated)
- Private. Unrated.
- Speedway (7 Eleven owned)A minus via parent
- A minus / Baa2 via parent
Max LTV7 Eleven: Lender underwriting
- 7 ElevenA minus (S&P) / Baa2
- Lender underwriting
- Circle KBBB+ (S&P)
- Lender underwriting
- WawaPrivate (Unrated)
- Lender underwriting
- QuikTripPrivate (Unrated)
- Lender underwriting
- Speedway (7 Eleven owned)A minus via parent
- Lender underwriting
Min DSCR7 Eleven: 1.25x
- 7 ElevenA minus (S&P) / Baa2
- 1.25x
- Circle KBBB+ (S&P)
- 1.30x
- WawaPrivate (Unrated)
- 1.35x
- QuikTripPrivate (Unrated)
- 1.35x
- Speedway (7 Eleven owned)A minus via parent
- 1.25x
Asking cap / closed (where sourced)7 Eleven: File specific
- 7 ElevenA minus (S&P) / Baa2
- File specific
- Circle KBBB+ (S&P)
- File specific
- WawaPrivate (Unrated)
- File specific
- QuikTripPrivate (Unrated)
- File specific
- Speedway (7 Eleven owned)A minus via parent
- File specific
Standard Base Lease7 Eleven: 15-yr
- 7 ElevenA minus (S&P) / Baa2
- 15-yr
- Circle KBBB+ (S&P)
- 15-yr
- WawaPrivate (Unrated)
- Sale-leaseback varies
- QuikTripPrivate (Unrated)
- Owner-operated (rare NNN)
- Speedway (7 Eleven owned)A minus via parent
- 15-yr
Environmental Diligence (USTs)7 Eleven: Phase II required on gas stores
- 7 ElevenA minus (S&P) / Baa2
- Phase II required on gas stores
- Circle KBBB+ (S&P)
- Phase II required
- WawaPrivate (Unrated)
- Phase II required
- QuikTripPrivate (Unrated)
- Phase II required
- Speedway (7 Eleven owned)A minus via parent
- Phase II required
Guarantor Structure7 Eleven: Corporate parent (Seven & i Holdings)
- 7 ElevenA minus (S&P) / Baa2
- Corporate parent (Seven & i Holdings)
- Circle KBBB+ (S&P)
- Corporate parent (Couche-Tard)
- WawaPrivate (Unrated)
- Private, limited transparency
- QuikTripPrivate (Unrated)
- Private, limited transparency
- Speedway (7 Eleven owned)A minus via parent
- Corporate parent (Seven & i)
1031 Exchange Suitability7 Eleven: Excellent
- 7 ElevenA minus (S&P) / Baa2
- Excellent
- Circle KBBB+ (S&P)
- Excellent
- WawaPrivate (Unrated)
- Good (if sale-leaseback)
- QuikTripPrivate (Unrated)
- Limited availability
- Speedway (7 Eleven owned)A minus via parent
- Excellent
Typical Loan Size7 Eleven: $10 million and up
- 7 ElevenA minus (S&P) / Baa2
- $10 million and up
- Circle KBBB+ (S&P)
- $2M – $8M
- WawaPrivate (Unrated)
- $3M – $10M
- QuikTripPrivate (Unrated)
- $2M – $7M
- Speedway (7 Eleven owned)A minus via parent
- $3M – $12M
Indicative only, as of 26 August 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Program criteria current as of 26 August 2026.
Tenant credit as of 26 August 2026. Next check 24 November 2026. A rating needs an as of date. Do not cite a rating that does not exist. Stabilized CRE CMBS starts from 6.35 percent as of 1 August 2026. Boulder Group Q2 2026 asking caps only where we have them. PeerSense sources capital through a curated network of commercial lenders and capital sources.
Indicative only, as of September 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
7-Eleven NNN Deal Patterns We Place
7-Eleven 1031 Exchange (Non-Gas)
Convenience-only 7-Eleven (no gas pumps) inside a 1031 exchange. Standard NNN diligence + 45–60 day close. Corner-lot real estate value provides downside protection even on shorter remaining lease.
7-Eleven with Gas Pumps | Extended Timeline
Gas-pump 7-Eleven requires Phase II environmental in addition to Phase I. Build 60–90 day close into your 1031 window. Start environmental report at LOI, not at term sheet. Environmental indemnity from seller typical on stores with any prior leak history.
7-Eleven + Speedway Portfolio
Since 7-Eleven acquired Speedway in 2021, multi-property portfolios can combine both brands under single Seven & i guarantee. Portfolio CMBS structure unlocks ~25 bps tighter pricing than individual store financing.
Ground Lease vs. Fee Simple Structure
7-Eleven sometimes owns the building on ground-leased land. Leasehold mortgage structure is financeable but requires SNDA agreement with ground lessor. 25–50 bps wider than fee simple on equivalent lease term.
7-Eleven Mid-Lease Refinance Post-Extension
Tenant exercised 5-year option. Extended WALT resets CMBS underwriting | refinance into new 10-year non-recourse at improved pricing. Common value-creation move.
7-Eleven NNN Financing, Frequently Asked Questions
What are typical 7-Eleven NNN rates?+
There is no single 7 Eleven NNN coupon. Stabilized CRE CMBS starts from 6.35 percent as of 1 August 2026. 7 Eleven Inc. is A minus from S&P and Baa2 from Moody's as of 26 August 2026. Parent Seven and i is A minus from S&P and A3 from Moody's, both cut in 2025. PeerSense sources capital through a curated network of commercial lenders and capital sources.
What is 7-Eleven's credit rating?+
7 Eleven Inc. is A minus from S&P and Baa2 from Moody's. Parent Seven and i is A minus from S&P and A3 from Moody's, both cut in 2025. Not a naked A.
Does 7-Eleven have environmental concerns because of gas pumps?+
Yes, underground storage tanks (USTs) for gasoline trigger mandatory Phase II Environmental Site Assessment during CMBS diligence. Expect $25K–$75K Phase II cost and 30–60 additional days of closing time. Clean Phase II reports close normally; properties with past leaks or contamination history may require environmental indemnity or closure. Not all 7-Elevens have gas pumps, ~55% do.
What LTV on 7-Eleven NNN?+
Leverage is lender underwriting. Remaining lease term and environmental status drive the file. PeerSense introduces and places. Leverage is lender underwriting.
Are 7-Eleven leases 15-year base?+
Yes. 7-Eleven standard is 15 years base with 4 × 5-year renewal options (35 years fully extended). Typical prototype is 2,800–3,500 SF convenience store with or without gas pumps on corner pad of 0.75–1.25 acres. Ground lease variants exist where 7-Eleven owns the building; financeable as leasehold mortgage with SNDA agreement.
What's typical 7-Eleven NNN deal size?+
Typical 7 Eleven NNN is $3M to $6M purchase price. Urban infill can run larger. Loan size is lender underwriting. PeerSense sources capital through a curated network of commercial lenders and capital sources.
How does 7-Eleven compare to Circle K or Wawa for NNN financing?+
7 Eleven Inc. is A minus from S&P and Baa2 from Moody's. Parent Seven and i is A minus from S&P and A3 from Moody's. Couche Tard, Circle K's parent, is BBB+ from S&P and Baa1 from Moody's. Wawa is privately held and unrated. PeerSense sources capital through a curated network of commercial lenders and capital sources.
Is 7-Eleven NNN 1031 exchange friendly?+
Yes, 7-Eleven is a top-5 1031 replacement property for buyers with $3M–$7M exchange balances. A minus parent credit plus 15 year lease plus corner lot real estate with strong underlying land value is the file lenders like. Environmental diligence timeline is longer than drugstore NNN (add 30 days), so start early in the 180-day window.
Deals We Structure
Representative profiles from the placement desk and from the forward flow network tape. Sizes and structures only. No counterparties named.
$10 million and up flagged hotel, CMBS refi
6.75% fixed | 65% LTV | CMBS takeout
$10 million and up value add multifamily bridge
SOFR +395 | 75% LTC | Named takeout
$10 million and up mixed use construction
80% LTC | Interest only | 18 mo term
SBA 7(a) QSR franchise acquisition
Prime +2.75% | 25 yr term. Equity injection is lender underwriting.
$20 million a month manufacturing AR
1.5% factor fee | 90% advance | B2B invoices
$10 million and up rental portfolio
7.25% | 75% LTV | No income docs | 1.25x DSCR
$350M to $1.5B committed purchase of future originations
True sale | Par or premium to UPB | Weekly or monthly settlement | Servicing usually retained
$100M to $500M revolving line against eligible receivables
80 to 95% advance | 2 to 3 year revolver | Often paired with a flow takeout
$200M seasoned pool sold in one trade
Priced off the tape | Off balance sheet at settle | Cash recycles into new production
Indicative only, as of September 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Tell Us About Your 7-Eleven NNN Deal
Property address, purchase price or payoff, remaining lease term, and 7-Eleven lease specifics. We introduce and place. PeerSense sources capital through a curated network of commercial lenders and capital sources.
7-Eleven NNN Loan: The desk will reach out. No obligation.
Ready to talk about your 7-Eleven NNN deal?
Send us the property address, purchase price or refinance balance, remaining lease term, and current rent. We introduce and place. PeerSense sources capital through a curated network of commercial lenders and capital sources.
Fee at closing only · Complimentary initial consultation
Published by PeerSense Capital Advisory · Written by Ed Freeman, Founder. As of 26 August 2026.
Disclaimer: 7-Eleven NNN financing rates, terms, and availability are subject to change based on tenant credit rating, remaining lease term, property condition, sponsor qualifications, and market conditions. Tenant credit ratings change. Figures in this guide are as of 26 August 2026. Next check 24 November 2026. Do not cite a rating that does not exist. Stabilized CRE CMBS starts from 6.35 percent as of 1 August 2026. Coupon is file specific. 7-Eleven corporate and franchisee lease structures vary, pricing outcomes are tenant- and lease-specific. PeerSense is a capital advisory firm, All financing is provided by third-party lenders subject to their own underwriting criteria and approval processes. This page is not an endorsement or sponsorship of 7-Eleven or its parent corporation.