1230 Redgate Ave - Convenience Store FOR SALE


Norfolk, VA 23507- West Ghent
$750,000 USD
858-768-1280
1230 Redgate Ave, Norfolk, VA for Sale
$750,000 USD
Convenience Store - FOR SALE
1/7
null | 6% Cap Rate

1230 Redgate Ave
Norfolk, VA 23507
West Ghent


HIGHLIGHTS

  • INVESTMENT-GRADE TENANT | 7-ELEVEN CORPORATE GUARANTY
  • DYNAMIC AREA REDEVELOPMENT & GROWTH
  • ROBUST DEMOGRAPHICS & HIGH VISITOR TRAFFIC
  • PROXIMITY TO MAJOR EMPLOYERS & COASTAL AMENITIES
  • LIMITED COMPETITION IN IMMEDIATE TRADE AREA
  • EXCELLENT ACCESSIBILITY & VISIBILITY

OVERVIEW

The Northmarq National Restaurant Group is pleased to offer this single-tenant 7-Eleven property located at 1230 Redgate Avenue in Norfolk, Virginia. The asset features a corporate-guaranteed NN lease with over 6 years remaining and 3x5 year renewal options, along with 10% rent increases every five years. With minimal landlord responsibilities and an A-rated guarantor, the property provides reliable, inflation-resistant income. Located near the Midtown Tunnel (US-58) with 35,000+ VPD, the site is surrounded by 200,000+ residents and average household incomes exceeding $80,000. The property benefits from nearby economic drivers such as Sentara Norfolk General Hospital, Eastern Virginia Medical School, and Norfolk Naval Station, as well as tourism from Nauticus, the Waterside District, and other cultural attractions. With limited competition, strong local demographics, and proximity to major redevelopment projects and coastal amenities, this offering represents a stable investment in a dense, high-traffic urban market.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$285 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

Commercial

APN/PARCEL ID

15269200

ASK ABOUT THIS PROPERTY

Will PuralNorthmarqMore Info
858-768-1280

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Will PuralNorthmarqMore Info
858-768-1280

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.