343 Woodland RdHampton, VA 23669

This exceptional investment opportunity presents a fee-simple 7-Eleven gas station located at 343 Woodland Rd, Hampton, VA 23669. The property boasts a 2,840 square foot building situated on a 0.52-acre lot, featuring 4 gas pumps and 15 parking spaces. Built in 1983 and renovated in 2015, this Class B property operates under a triple-net (NN+) lease with a corporate guarantee from a franchisee with 300+ locations. The current lease, commencing December 31, 1990, has a remaining term of approximately 3.2 years, with four 5-year renewal options. The lease includes annual CPI rent bumps (a 7.8% increase occurred on March 1, 2022). The property enjoys a prime location at a signalized intersection with high daily traffic volume (13,000 vehicles per day). The current NOI is $86,851, yielding a 6.00% cap rate and a pro-forma cap rate of 5.70%. The property is zoned C1, Neighborhood Commercial. The asking price is $1,525,000 ($536.97 per square foot). Landlord responsibilities include exterior maintenance (roof, gutters, downspouts, and outside walls)