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.