10601 Patterson Ave
Richmond, VA 23238
7-Eleven · Retail Property For Sale

Marcus & Millichap is pleased to present for sale 7-Eleven located at 10601 Patterson Avenue, Richmond, Virginia. The property features an absolute triple net lease with no landlord responsibilities. Ten years remain on the initial term, with the property subject to four, five-year options. The rent changes from $85,000 to $93,500 in June of this year, making it a true 4.75% capitalization rate. The subject property is a single tenant 3,573 square foot building on 0.79 acres of land. The subject property is located on a hard, signalized corner with average daily traffic counts over 23,000. Located in a retail corridor, the subject property is surrounded by many national tenants such as Domino' s, Exxon, Texaco, Dairy Queen, Burger King, McDonald' s, CVS, Food Lion, and many more. Richmond is the capital of the Commonwealth of Virginia in the United States. It is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond Region. It was incorporated in 1742, and has been an independent city since 1871. As of the 2010 census, the population was 204,214; in 2015, the population was estimated to be 220,289, the fourth-most populous city in Virginia. The Richmond Metropolitan Area has a population of 1,260,029, the third-most populous metro in the state. The Greater Richmond area was named the third-best city for business by MarketWatch in September 2007, ranking behind only the Minneapolis and Denver areas and just above Boston. The area is home to six Fortune 500 companies: electric utility Dominion Resources; CarMax; Owens & Minor; Genworth Financial; WestRock Company; McKesson Medical-Surgical, Markel Corporation, and Altria Group.