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7-Eleven Abs NNN Super Walmart Adj 800 E Little Creek Rd 2,535 SF Retail Building Norfolk, VA 23518 $1,650,000 ($650.89/SF) 5.50% Cap Rate

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INVESTMENT HIGHLIGHTS

Absolute NNN
Across from Super Walmart Center
Low C-store rent

10% increases every five years
24 Hour Store & Signalized corner
Occupying since 1981

EXECUTIVE SUMMARY

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 a 5.5% cap rate based on the May 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.

7-11 Norfolk, VA OM_compressed

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Convenience Store

Building Size

2,535 SF

Building Class

Year Built

1981

Price

$1,650,000

Price Per SF

$650.89

Cap Rate

5.50%

NOI

$90,750

Tenancy

Single

Building Height

1 Story

Building FAR

0.16

Lot Size

0.36 AC

Zoning

Parking

10 Spaces (3.94 Spaces per 1,000 SF Leased)

Bus Line

Pylon Sign

Signage

Signalized Intersection

MAJOR TENANTS

Retailer
-
-
Triple Net
Apr 2031

In 1927, 7-Eleven showed the world just how convenient shopping could be – and they’ve been doing it every day since. Today, 7-Eleven is a global brand with more stores than any other retailer in the world. 7-Eleven, Inc. now operates a robust family of banners and brands, including Speedway®, Stripes®, Laredo Taco Company® and Raise the Roost® Chicken and Biscuits locations throughout the U.S. The brand also has a history of firsts — coffee in to-go cups, 24/7 hours and self-serve soda fountains, to name a few. Not to mention iconic products – like Slurpee® and Big Gulp® drinks – that have become a part of American culture. As the world’s largest convenience retailer, 7-Eleven also helped pioneer the Franchise model and is now consistently ranked as a top-10 Franchisor – a true testament to their entrepreneurial spirit. Although they’ve grown significantly over the years, they remain focused on innovating to meet customers' needs.