King George, VA - 7-Eleven

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, 7-Eleven investment property located in King George, Virginia. The tenant, 7-Eleven, Inc., has approximately 11 years remaining on their lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10.82% rental increase in 2030 and 10% increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The 7-Eleven is located near the signalized, hard-corner intersection of US 301 and Ridge Rd, combining to average over 24,000 vehicles passing by daily. US 301 is a major retail thoroughfare serving the city of King George, spanning from Richmond, VA to the Washington DC/Baltimore area. The 7-Eleven is adjacent to a 16,000+ square foot ACE Hardware and a 13,200+ square foot Family Dollar anchored strip center, complete with local tenants. The subject property is located less than 2 miles from the signalized, hard-corner intersection of US 301 and VA-3, which has a Sheetz, Tractor Supply Co., and CVS Pharmacy. The asset is located in close proximity to King George High School (1,400+ students), King George Middle School (700+ students), and a 45,000+ square foot Food Lion grocery anchored shopping center. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Food Lion, Dollar Tree, Dollar General, Family Dollar, Sheetz, ACE Hardware, Tractor Supply Co., O’Reilly Auto Parts, CVS, Domino’s Pizza, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 13,600 with an average household income of $130,496.