October 18, 2023 – Hill Kanellos and Dennis Cravedi of Horvath & Tremblay have successfully completed the sale of a 7-Eleven in Fredericksburg, Virginia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $6,417,327.
7-Eleven is located at 5900 Harrison Road in Fredericksburg, Virginia. The new construction 7-Eleven features a state-of-the-art convenience store with 20 fueling stations and a fuel island canopy. 7-Eleven has a new 15-year Absolute NNN Lease with four (4), 5-year renewal options. The lease features attractive 10% rent increases every 5-year throughout the primary lease term and at the start of each renewal option. The Property is well located at the signalized intersection of Harrison Road and Leavells Road, two of the area’s primary commercial and commuter corridors. The Property benefits from outstanding visibility and frontage with two points of access. The property is surrounded by densely populated residential neighborhoods providing a built-in customer base. 7-Eleven is 1.5-miles from Plank Road (VA Route 3) and 2.5-miles from US Route 1, the area’s primary commercial corridors, and is 2.75-miles from Interstate 95.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.