Property profile

1569 George Washington Memorial Hwy 401 Gloucester Point, VA 23062

OFF-MARKET
Gas stations
Property ID
US87-1547652
2,380 SF 0.09 ac lot Built 1990
Entity Owned 3-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

Commercial convenience store and gas station property with a 2,400-square-foot building situated on a 0.88-acre parcel. The site provides 14 parking spaces and is equipped with 10 gas pumps. It is located in Gloucester Point’s main trade area, less than 1 mile from the Virginia Institute of Marine Science, along George Washington Memorial Highway (US-17), a high-traffic corridor. The surrounding area is residential and business-dense, with population and employment within a 5-mile radius and an average household income reported over $106,000 annually. The property is configured for a corporately guaranteed absolute NNN lease structure with Speedway (7-Eleven, Inc.) and includes scheduled rent step-ups every five years during the initial term and renewal option periods.

Property profile

Verified
Property type Gas stations
Use group GAS STATION
Year built 1990
Total area 2,380 SF
Lot 0.09 ac (3,920 SF)
Zoning code B-1
APN 15741
UPID US87-1547652

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gas Station
  • Atm
  • Atm

Location

1569 George Washington Memorial Hwy, Unit 401 Gloucester Point, VA 23062-2523
Gloucester Point metro Census 100301 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.81M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.84M

Owner & transaction history

since 2023
Last sale
$1.8M
2 recorded transactions
2023
$1.8M
2020
Price N/A

Zoning & alternative use

B-1 · Gloucester Point, VA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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