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Views: 71 DOM: 260 Updated: 06.03.24 Posted: 09.26.23 Status: Active

Summary

Price $3,752,600
Built/Renov 2005
Tenant CVS
Cap Rate 8.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,530
Lease Start 01-09-2006
#Units 9,900
Price/SF $299.49
Expiration 01-31-2031
Tenant Type Pharmacy
NOI $328,350
R. Term 6.7
Ownership Fee Simple
Rent/SF $26.21
Increases 11.0%/8/yrs
Pop 5Mi 0
Lot/AC 3.54
Options 10/5yrs/11%
AHHI 5Mi $59,904

Lease Highlights

  • CVS has been operating in this location since 2006
  • Tenant currently has over 7 years remaining on the current lease term with 10 (5-year) options to extend
  • Lease features 11% rental increase during the first option and FMV for remaining options
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by CVS Corporation (NYSE: CVS)

Location Description

This CVS is conveniently located at the signalized intersection of James B. Jones Memorial Hwy. and N. Main St., which see a combined 15,000 vehicles passing by daily. The property is positioned within a dense retail corridor with major nationals including Walmart, Tractor Supply, Dollar General, Food Lion and more, creating a strong consumer drive to the trade area. The site benefits from...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS
  • Guarantor:Corp T and Rated
  • Company:CVS Corporation
  • # Units:9,900
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • Stock: NYSE: CVS

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
James B Jones Memorial Highway Radio Rd 2020 4,200 0.03 mi
James B Jones Memorial Highway Radio Rd 2021 5,000 0.03 mi
James B Jones Memorial Hwy Radio Rd 2014 5,100 0.03 mi
R-VA051SC01043EB N Main St 2020 630 0.17 mi
R-VA051SC01040EB N Main St 2020 290 0.31 mi
North Main Street School St 2018 10,000 0.35 mi
North Main Street N Main St 2021 11,000 0.36 mi
R-VA051SC01044EB Corrotoman Cir 2020 240 0.41 mi
R-VA051SC01044EB Pine Dr 2020 70 0.49 mi
R-VA051SC01045NB Oak Ln 2020 110 0.51 mi

Listing Broker

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