11202 Jefferson Ave, Newport News, VA 23601

The property features a 4,094-square-foot 7-Eleven store with six multi-product dispensers (MPDs) and a car wash. The tenant, 7-Eleven Inc., has 12 years remaining on its 15-year NNN lease, which includes 10 percent rental increases every five years during the base term and four, five-year options. The lease is backed by 7-Eleven, the nation’s largest convenience store operator with roughly 85,000 stores worldwide and an “A-” credit rating by Standard & Poor’s. The store is strategically positioned at the signalized intersection of Jefferson Avenue and Harpersville Road, visible to 68,000 vehicles per day. There are two primary means of access, as well as a third access point via the parking field of the neighboring Walmart Neighborhood Market. The property is located within two-miles of three area public schools with nearly 3,000 students, and three area private schools. The surrounding Hampton Roads submarket is an economically diverse region anchored by defense, maritime trade, shipbuilding, aerospace, higher education, and healthcare. The tenant is supported by 76,060 residents within three-miles and more than 172,895 within five-miles. Average household income levels of approximately $87,000 are the tenant’s ideal middle-income demographic. 7-Eleven relocated to this location from a convenience-only location one-half-mile south, demonstrating their commitment to the market.