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7-Eleven
2955 Oak Lake Blvd, Midlothian, VA 23112
Listing Price: $7,500,000
Investment Overview
FUNDAMENTAL LOCATION, VISIBILITY & ACCESS Strategically located on a ±2.44-acre site at the NEC of Oak Lake Boulevard & Genito Road in an affluent segment of Richmond, VA Brand new 2023 construction |7-Eleven Relocation Store 7-Eleven includes 4,730/sq ft Convenience Store equipped with 6 Fueling Dispensers and 12 Fueling Stations Incorporated into the 7-Eleven Convenience Store design will be a Raise the Roost Chicken & Biscuits QSR (https://raisetheroostchicken.com/) Located at a 4-way, 6-lane signalized intersection in the heart of Midlothian Construction scheduled to begin February 2023 with a Store Opening projected late October 2023 Robust traffic counts: 14,000 VPD at the intersection of Genito Rd & Oak Lake Blvd Traffic Generators in immediate area are Bon Secours St. Francis Medical Center, River City Sportsplex (a 115-acre athletic complex), Swift Creek Elementary, Swift Creek Middle, Clover Hill High School, Towns at Swift Creek (200+ townhomes), Colonial Village at Waterford (312 apartment units), CVS, and Food Lion OPTIMAL LEASE STRUCTURE 15-year lease with 7-Eleven corporate guaranty Absolute NNN lease with ZERO LANDLORD RESPONSIBILITIES Investment Grade Credit: “A” S&P bond rating 10% Rent Increases every five (5) years in Base Term & Option Periods Four (4), five-year options Fee simple ownership provides for accelerated depreciation [subject to 2023 tax guidelines] PROMINENT LOCALE WITH OPTIMAL DEMOS Dense Residential Population of 57,693 residents in a 3-mile and 131,607 in 5-mile radii Daytime Population of 120,469 within a 5-mile radius Avg. HH incomes of $85,216 in a 1-mile and $112,872 in a 5-mile radii 49,548 Households within a 5-mile radius Richmond is home to Richmond University and Virginia Commonwealth University CATEGORY-LEADING TENANT World’s Largest Convenience Retailer with over 71,100 locations in 20 countries globally and 13,000 located in US and Canada Largest Convenience Retailer in the US by more than 5,000+ stores Ranks #261 on Forbes “World’s Largest Companies” in 2022 with $78.5 billion in revenue and a Market Cap of $38.08 billion Seven & I Holdings, 7-Eleven’s parent company, plans to double its store count in the U.S. by 2027 #9 on the Franchise 500 Ranking in 2022 by Entrepreneur.com 7-Eleven honored with the “Best Overall Digital Transformation” award at the 2022 Modern Retail Awards
Investment Highlights
- NEW 2023 CONSTRUCTION
- 15-YEAR NNN LEASE | 10% RENT BUMPS EVERY 5 YEARS
- RELOCATION OF A NEARBY UNIT
Exclusively Listed By
Broker of Record
-
Brian Hosey
First Vice President/ Division Manager
Listing Price: $7,500,000
Investment Highlights
- NEW 2023 CONSTRUCTION
- 15-YEAR NNN LEASE | 10% RENT BUMPS EVERY 5 YEARS
- RELOCATION OF A NEARBY UNIT
Investment Overview
FUNDAMENTAL LOCATION, VISIBILITY & ACCESS Strategically located on a ±2.44-acre site at the NEC of Oak Lake Boulevard & Genito Road in an affluent segment of Richmond, VA Brand new 2023 construction |7-Eleven Relocation Store 7-Eleven includes 4,730/sq ft Convenience Store equipped with 6 Fueling Dispensers and 12 Fueling Stations Incorporated into the 7-Eleven Convenience Store design will be a Raise the Roost Chicken & Biscuits QSR (https://raisetheroostchicken.com/) Located at a 4-way, 6-lane signalized intersection in the heart of Midlothian Construction scheduled to begin February 2023 with a Store Opening projected late October 2023 Robust traffic counts: 14,000 VPD at the intersection of Genito Rd & Oak Lake Blvd Traffic Generators in immediate area are Bon Secours St. Francis Medical Center, River City Sportsplex (a 115-acre athletic complex), Swift Creek Elementary, Swift Creek Middle, Clover Hill High School, Towns at Swift Creek (200+ townhomes), Colonial Village at Waterford (312 apartment units), CVS, and Food Lion OPTIMAL LEASE STRUCTURE 15-year lease with 7-Eleven corporate guaranty Absolute NNN lease with ZERO LANDLORD RESPONSIBILITIES Investment Grade Credit: “A” S&P bond rating 10% Rent Increases every five (5) years in Base Term & Option Periods Four (4), five-year options Fee simple ownership provides for accelerated depreciation [subject to 2023 tax guidelines] PROMINENT LOCALE WITH OPTIMAL DEMOS Dense Residential Population of 57,693 residents in a 3-mile and 131,607 in 5-mile radii Daytime Population of 120,469 within a 5-mile radius Avg. HH incomes of $85,216 in a 1-mile and $112,872 in a 5-mile radii 49,548 Households within a 5-mile radius Richmond is home to Richmond University and Virginia Commonwealth University CATEGORY-LEADING TENANT World’s Largest Convenience Retailer with over 71,100 locations in 20 countries globally and 13,000 located in US and Canada Largest Convenience Retailer in the US by more than 5,000+ stores Ranks #261 on Forbes “World’s Largest Companies” in 2022 with $78.5 billion in revenue and a Market Cap of $38.08 billion Seven & I Holdings, 7-Eleven’s parent company, plans to double its store count in the U.S. by 2027 #9 on the Franchise 500 Ranking in 2022 by Entrepreneur.com 7-Eleven honored with the “Best Overall Digital Transformation” award at the 2022 Modern Retail Awards
Exclusively Listed By
Broker of Record
-
Brian Hosey
First Vice President/ Division Manager

