Investment Overview

Marcus & Millichap is pleased to present a net-leased investment opportunity consisting of a Taco Bell with drive-thru located at 10736 Jefferson Avenue in Newport News, Virginia. The property is subject to a triple-net (NNN) lease with over 14.5 years remaining on the current term. This follows a recently executed lease amendment that exercised the first two, five-year options. The tenants lease commitment now runs through December 31, 2039, and features scheduled rent escalations providing built-in rental growth and inflation protection for investors. Built in 2014, the property sits on 23,050 SF (0.53 AC) of land with a 1,755 SF GLA building and benefits from its strong retail corridor location along Jefferson Avenue, a major commercial artery with over 45,000 Vehicles Per Day (VPD). The site is positioned on a signalized intersection, offering excellent visibility and convenient ingress and egress for both local and through traffic. The property is located within the Virginia Beach–Norfolk–Newport News MSA—one of the largest metropolitan areas in the Southeast—offering strong regional demographics. Within a 3-mile radius, the site serves over 76,000 residents with an average household income exceeding $81,000. That figure rises to over 169,000 residents within a 5-mile radius, reinforcing the property's long-term retail viability. This Taco Bell is operated by Burger Busters, a seasoned franchisee who operate a portfolio of 87 locations. The recently executed lease extension through 2039 underscores the tenant’s long-term commitment to the site and confidence in its continued performance. Surrounded by dense residential neighborhoods, major retail anchors, and strong traffic counts, the asset presents a highly stable, long-term investment opportunity with minimal landlord responsibilities.