1569 George Washington Memorial Hwy, Gloucester Point, VA

Listing agent Dylan O’Hara Show Phone

Listing office Real Capital Investments Show Phone

Listing date Apr 8, 2024

Source Moodyscre

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Overview

This commercial property, operating as a convenience store and gas station since 1990, features a 2,400-square-foot building on a 0.88-acre parcel. The site includes 14 parking spaces and 10 gas pumps. The property is located in the main trade area of Gloucester Point, benefiting from a high daytime population of over 650 businesses and 5,400 employees within a 5-mile radius. It is situated less than 1-mile from the Virginia Institute of Marine Science. The location experiences high traffic, with more than 31,000 vehicles per day on George Washington Memorial Highway (US-17). The surrounding area is densely populated, with over 23,000 residents within a 5-mile radius and an average household income exceeding $106,000 annually. The property is subject to a corporately guaranteed absolute NNN lease by Speedway (7-Eleven, Inc.), with approximately 5 years remaining on the initial 20-year term and two 5-year options to renew. Rental increases are scheduled every 5 years throughout the initial term and option periods.

Suggested Use

Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Department Store Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Gloucester Point

County

Gloucester

State

Virginia

Longitude

-76.4968

Latitude

37.255

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FAQs

What type of property is this?

Gas station - NNN leased gas station with stable cash flow.

Where is this gas station located?

The property is located at 1569 George Washington Memorial Hwy Gloucester Point, VA.

What is the asking price?

The asking price for this property is $1,666,250.

What are key features of this property?

This property features: Absolute NNN Lease with Corporate Guarantee by Speedway (7‑Eleven, Inc.): Provides stable cash flow with zero landlord responsibilities and the security of a major national tenant.; Rental Increases: Features rental increases every 5 years, offering a hedge against inflation.; High Traffic Location: Benefits from high visibility with over 31,000 vehicles per day on George Washington Memorial Highway (US‑17).