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Drug Store

CVS Pharmacy

1329 Kempsville Rd, Chesapeake, VA 23320

Listing Price: $10,771,280

Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
12.7
Guarantor
Corporate Guarantee
Rentable SF
13,028
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.34

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a CVS Pharmacy located at 1329 Kempsville Road in Chesapeake, Virginia. There are currently 12.87 years remaining on the true triple-net lease, which calls for zero landlord responsibilities. The current annual rent is $538,564. There are ten (10), five (5)-year tenant renewal option periods, bringing the total lease term to 75 years.

Investment Highlights

  • ? Long-Term Absolute Triple Net (NNN) Lease Approximately 12.87 Years Remaining
  • ? CVS Corporate Guaranty | Investment-Grade Credit
  • ? Fee Simple Ownership

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Listing Price: $10,771,280

Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
12.7
Guarantor
Corporate Guarantee
Rentable SF
13,028
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.34

Investment Highlights

  • ? Long-Term Absolute Triple Net (NNN) Lease Approximately 12.87 Years Remaining
  • ? CVS Corporate Guaranty | Investment-Grade Credit
  • ? Fee Simple Ownership

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a CVS Pharmacy located at 1329 Kempsville Road in Chesapeake, Virginia. There are currently 12.87 years remaining on the true triple-net lease, which calls for zero landlord responsibilities. The current annual rent is $538,564. There are ten (10), five (5)-year tenant renewal option periods, bringing the total lease term to 75 years.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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