Speedway, Front Royal, Virginia

416 S. Commerce Avenue no-imageVIEW MAP

Property Information

Price: $2,146,497

Cap Rate: 6.60%
NOI: $141,669
Lease Term: 5 Years
Lease Type: Absolute NNN
Building Size: Approximately 2,400
Year Built: 2000/2009
Status: Available
Lead Broker Information:

Dylan O’Hara



Property Description

Investment Highlights

  • 20 Year Absolute NNN Lease with 5 Years Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Two (5-Year) Options to Renew
  • Rental Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Corporately Guaranteed Lease by Speedway (7-Eleven, Inc.) – Speedway is a Best-in-Class Gas Station & C-Store Tenant Founded in 1952 That Operates Over 3,900 Locations in 36 States – Largest Brand Within Its Category for Company-Owned Chains Based on Revenue
  • 23 Year Successful Operating History at the Site – The Property Has Been a C-Store & Gas Station Since Opening in 2000 – 2,400 Square Feet Building Situated on a 0.68-Acre Parcel Containing 25 Parking Spaces & 6 Gas Pumps
  • High Traffic Location – More Than 26,000 Vehicles Per Day on Commerce Ave (US-552), Over 15,000 Vehicles Per Day on John Marshall Hwy (VA-55) & an Additional 18,773 Vehicles Per Day on Nearby US-340
  • Densely Populated, Infill Location with Excellent Demographics – Over 27,000 People within a 5-Mile Radius with Average Household Income Exceeding $102,000 Annually
  • Strategically Positioned Near the Royal Plaza Shopping Center, a Martin’s Grocery Anchored Center That Brings Daily-Needs Consumers to the Immediate Trade Area – More Than 1.96 Million Visits to the Center During the Prior Calendar Year
  • Located Across from Gateway Plaza Shopping Center, a Big Lots! Anchored Center That Has Seen More Than 1.06 Million Visits Over the Last Calendar Year
  • Over 1.9 Million Square Feet of Industrial & Office Space and 2.2 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 1,200 Businesses & 9,700 Employees
  • Multiple Hotels within Close Proximity – 17 Total Properties with More Than 575 Combined Rooms within a 5-Mile Radius of the Property