8108 Old Dominion Drive
100% OCCUPIED 7-ELEVEN ANCHORED STRIP CENTER
Marketing description
The Snyder Carlton National Net Lease Team is pleased to offer investors an excellent opportunity to purchase a fully occupied strip center in McLean, VA. The 4,180 SF asset is positioned within the Washington- Arlington-Alexandria MSA, which has a population exceeding 6.4 million, and is occupied by 7-Eleven, Sweet Stuff and Smoke Haven. 7-Eleven has profitably operated at this location since 1964, is the largest convenience store worldwide (85,000 locations globally) and has an investment grade credit rating of “A” from S&P (Moody’s: “Baa2”). Sweet Stuff has been serving the McLean community for 32 years and embraces the taste of Central American cuisine. Smoke Haven – Smoke & Vape Shop is the newest tenant to the strip center, has nearly 4 years remaining in the primary term and benefits from a CPI rent adjustment at the commencement of its option period.
All tenants are subject to net leases leaving limited landlord responsibilities for a passive owner. Both 7-Eleven and Sweet Stuff leases include negotiable rent increases in the option periods with strong potential to increase cashflows in the coming years. The Masonry building is positioned on the hard corner signalized intersection of Old Dominion Drive and Spring Hill Road, which sees over 16,800 vehicles per day, and is only a 30-minute drive to the Nation’s Capital.
Investment highlights
- 100% Occupied 7-Eleven Anchored Strip Center
- Three Tenant Retail Asset – 4,180 SF Building on .84 Acres
- Corporate 7-Eleven Lease – Investment Grade Credit Rating (S&P: A)
- Long Term 62 Years Occupancy - Demonstrating Strength & Profitability
- 9.4 Years Remaining in Primary Term – Three 5-Year Option Periods
- Sweet Stuff – Bakery & Deli – In Business Since 1994
- Over 5 Years Remaining in Primary Term – One 5-Year Option Period
- Smoke Haven – Smoke & Vape Shop
- 3.9 Yrs Remaining in Primary Term – One 5-Year Option Period
- CPI Rent Increase
- Positioned on Hard Corner Signalized Intersection of Old Dominion Dr & Spring Hill Rd
- Within Washington-Arlington-Alexandria MSA – Population Surpassing 6.4 Million
- Strong Demographics – 174,000+ Residents within 5 Miles
- Average HHI Exceeding $284,700 within 5 Mile Radius ($432,700 within 1 Mile)
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