Verona, VA - 7-Eleven & El Puerto Grill

Description:

SRS Multi-Tenant Investments is pleased to present the opportunity to acquire the fee simple interest (land and building ownership) in a two-tenant retail asset featuring 7-Eleven and El Puerto Cantina & Grill, strategically located in Verona, Virginia, (Staunton-Waynesboro MSA). The property consists of two suites totaling 4,678 square feet, situated on a 1.15-acre parcel, offering strong site fundamentals and excellent accessibility. The 7-Eleven is outfitted with eight fuel pumps, while El Puerto Cantina & Grill benefits from a drive-thru, enhancing customer convenience and reinforcing the asset’s e-commerce-resistant, daily-needs orientation.

Both tenants operate under leases which are NNN in nature, minimizing landlord responsibilities and limiting expense leakage for a future investor. 7-Eleven has successfully operated at the site for over 13 years and recently executed an early 10-year lease extension, extending its lease term through September 2038. Additionally, El Puerto Cantina & Grill has demonstrated strong commitment to the location by signing a new 5-year lease with one 5-year option to extend. Furthermore, the 7-Eleven lease is signed by the corporate entity, 7-Eleven, Inc. (S&P: A-), an investment-grade tenant with over 13,000 locations nationwide and more than $77 billion in revenue in 2025. Lastly, the subject 7-Eleven ranks in the top 95th percentile of 7-Eleven locations nationwide, per Placer.ai, underscoring the strength of the location and store performance.

The asset is strategically located at the signalized, hard corner intersection of State Highway 612 and Mill Place Parkway, which supports more than 14,000 vehicles per day. The site further benefits from direct on/off-ramp access to Interstate 81, which carries approximately 59,000 vehicles per day, as well as close proximity to Highway 11 (16,000 VPD) and Highway 262 (13,000 VPD). The asset is directly adjacent to a Food Lion that generates over 710,000 visits per year and ranks in the top 78th percentile chainwide. Other nearby national/credit tenants include Ace Hardware, Walgreens, Best Buy (distribution center), FedEx, Starbucks, McDonalds, and more. The 5-mile subject trade area is supported by more than 23,000 residents and 14,000 daytime employees who earn healthy average household incomes of more than $94,000.

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Listing ID: a28TP000002fjb7YAA