800 E Little Creek Rd - Convenience Store FOR SALE


Norfolk, VA 23518- Colonial Heights
$1,815,000 USD
818-522-4792
800 E Little Creek Rd, Norfolk, VA for Sale
$1,815,000 USD
Convenience Store - FOR SALE
1/8
null | 5% Cap Rate

800 E Little Creek Rd
Norfolk, VA 23518
Colonial Heights


HIGHLIGHTS

  • Absolute NNN
  • 10% increases every five years
  • Across from Super Walmart Center
  • 24 Hour Store & Signalized corner
  • Low C-store rent
  • Occupying since 1981

OVERVIEW

This well-located corporate 7-Eleven is at the signalized corner of Little Creek Road and Old Ocean View Road. The property is across the street from a Super Walmart anchored center and has heavy drive-by exposure from the approximate 25,000 cars that pass by daily. This 24-hour, non-gas store is priced at $1,815,000 at a 5% cap rate based on the 2026 rental increase. The seller will credit the difference in current rent versus the 2026 rent at closing. The lease is Absolute NNN with 10% rent increases every five years (note that the 2026 rental income is the basis for value and seller will credit the rent differential at closing). With a lease term until April 30, 2031, and two 5-year renewal options, and a very low rent compared for a C-store, this property provides the potential for steady income, long term tenancy (in occupation since ~1981), and future growth. The Lease Commencement Date above is estimated.

FOR SALE DETAILS

PRICE

$1,815,000 USD

PRICE/SF

$716 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven Abs NNN Super Walmart Adj

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Fast Food, Freestanding, Movie Theatre

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

CROSS STREETS

Old Ocean View Rd

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

41

APN/PARCEL ID

39891200

ASK ABOUT THIS PROPERTY

Chris ThompsonIREA, Inc.More Info
818-522-4792

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Chris ThompsonIREA, Inc.More Info
818-522-4792

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.