1031 Richmond Ave - Convenience Store FOR SALE


Staunton, VA 24401
$9,454,545 USD
610-251-0820
1031 Richmond Ave, Staunton, VA for Sale
$9,454,545 USD
Convenience Store - FOR SALE
1/8
null | 4.95% Cap Rate

1031 Richmond Ave
Staunton, VA 24401


HIGHLIGHTS

  • Corporately guaranteed 20-year NNN ground lease with zero landlord duties
  • Scheduled 10% rent increases every 5 years with six 5-year renewal options
  • Located 0.5 miles from I-81 with 61,000 VPD and US 250 with 39,000 VPD
  • Surrounded by national retailers including Walmart, Chick-fil-A, and Starbucks
  • High-income trade area with $119,692 average household income
  • Positioned to serve both local residents and regional travelers

OVERVIEW

CBRE presents a rare opportunity to acquire a brand-new Wawa convenience store and fueling station located at 1031 Richmond Avenue in Staunton, Virginia. Scheduled for delivery in October 2025, this 5,915-square-foot retail asset sits on a 1.76-acre parcel and features Wawa’s latest prototype design with high-end finishes and multiple fueling positions. The property is backed by a 20-year corporately guaranteed NNN ground lease, offering investors a truly passive ownership structure with zero landlord responsibilities. With 10% rental escalations every five years and six five-year renewal options, the lease provides long-term income growth and stability. Strategically positioned just 0.5 miles from I-81 and along Richmond Avenue/US 250, the site benefits from exceptional visibility and access to over 100,000 vehicles per day. The surrounding area is a vibrant retail corridor anchored by national brands such as Walmart, Lowe’s, Aldi, Chick-fil-A, and Starbucks, ensuring consistent foot traffic and cross-shopping opportunities. Staunton’s proximity to Shenandoah National Park and Charlottesville enhances its appeal to both local residents and regional travelers. Demographics within a 7-mile radius include a population of over 57,000 and an average household income of $119,692, supporting strong consumer demand. With Wawa’s investment-grade credit rating and its position as the #1 convenience store/gas station operator in the Mid-Atlantic, this asset represents a secure, long-term investment in a growing market.

FOR SALE DETAILS

PRICE

$9,454,545 USD

PRICE/SF

$1,598 USD /SF

CAP RATE

4.95%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wawa | Staunton, VA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,750 SF

ZONING

B2

APN/PARCEL ID

10351

ASK ABOUT THIS PROPERTY

610-251-0820

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610-251-0820

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