Speedway, Front Royal, Virginia

416 S. Commerce Avenue no-imageVIEW MAP

Property Information

Price: $2,352,096*

Cap Rate: 6.25%
NOI: $147,006*
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

***NOI is an estimate based on the most recent CPI data. Actual data for this rent increase will be released in December. As such, the purchase price shall be based on a cap rate and adjusted based on the final, actual rent.

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