8108-8112 Old Dominion Dr - Freestanding FOR SALE


McLean, VA 22102
$2,640,000 USD
949-724-5552
8108-8112 Old Dominion Dr, McLean, VA for Sale
$2,640,000 USD
Freestanding - FOR SALE
1/6
null | 6% Cap Rate

8108-8112 Old Dominion Dr
McLean, VA 22102


HIGHLIGHTS

  • 100% Occupied 7-Eleven Anchored Strip Center
  • Three Tenant Retail Asset – 4,180 SF Building on 2.34 Acres
  • Corporate 7-Eleven Lease – Investment Grade Credit Rating (S&P: A)
  • 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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,640,000 USD

PRICE/SF

$1,693 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven and Shops

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

450

APN/PARCEL ID

0204-01-0024

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

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Jereme SnyderColliersMore Info
949-724-5552

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