1115 Colonial Ave Norfolk, VA

Listing office SRS Real Estate Partners | McLean p***@srsre.com Show Phone

Listing date Nov 20, 2025

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Investment Insights

Based on property information with market context.

This property is occupied by a 7-Eleven store, operating as a 24-hour establishment that sells beer and wine. The tenant recently extended their lease for an additional 13 years, with two 5-year options to extend. The lease includes a 6% rental increase in December 2030, and further rental increases at the beginning of each option period. The tenant is responsible for CAM, taxes, insurance, and all maintenance of the premises, presenting a management-free investment opportunity. 7-Eleven operates, franchises, and/or licenses more than 14,000 stores in the U.S. and Canada. The property contains 2,811 square feet.

Key Highlights

• Long‑term lease: Tenant recently extended their lease for 13 years with two 5‑year options, ensuring stable income.
• Passive Investment: No landlord responsibilities, offering a management‑free investment.
• Rental Increases: Lease includes 6% rental increases in Dec. 2030 and at the beginning of each option period, hedging against inflation.

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FAQs

What type of property is this?

Grocery and convenience store - Freestanding 7-Eleven with extended lease and rental increases.

Where is this grocery and convenience store located?

The property is located at 1115 Colonial Ave Norfolk, VA.

What is the asking price?

The asking price for this property is $1,700,000.

What are key features of this property?

This property features: Long‑term lease: Tenant recently extended their lease for 13 years with two 5‑year options, ensuring stable income.; Passive Investment: No landlord responsibilities, offering a management‑free investment.; Rental Increases: Lease includes 6% rental increases in Dec. 2030 and at the beginning of each option period, hedging against inflation.