Description

The Northmarq National Restaurant Group presents a single-tenant 7-Eleven property located at 1230 Redgate Avenue in Norfolk, Virginia. The asset is secured by a corporate-guaranteed NN lease with more than six years remaining, along with three five-year renewal options and 10% rent increases every five years. With minimal landlord responsibilities and the backing of an A-rated guarantor, the property provides stable and inflation-resistant income. The site is located near the Midtown Tunnel (US-58), which sees over 35,000 vehicles per day, and is surrounded by a population of more than 200,000 residents with average household incomes exceeding $80,000. The property also benefits from several nearby economic drivers, including Sentara Norfolk General Hospital, Eastern Virginia Medical School, and Norfolk Naval Station, as well as tourism attractions such as Nauticus and the Waterside District. With limited nearby competition, strong demographics, and proximity to major redevelopment projects and coastal amenities, the property offers investors a stable opportunity in a dense, high-traffic urban market.