Drug Store
CVS NNN Ground Lease
11120 Patterson Ave, Richmond, VA 23238
Listing Price: $3,500,000
Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
9.9
Gross SF
13,750
Guarantor
Corporate Guarantee
Rentable SF
13,750
Price/Gross SF
$254.55
Lease Type
NNN Ground Lease
Rent Per Square Feet
$12.73
Investment Overview
Marcus & Millichap is pleased to present for sale a 13,750 square feet CVS Pharmacy located in Richmond, Virginia.
CVS NNN Ground Lease
Investment Highlights
- CVS Pharmacy | Corporate Guaranty | Just Under 10 Years Remaining
- 13,750 SQ FT | 2009 Construction | 2.59 Acres
- Absolute NNN Ground Lease | No Landlord Obligations
- Strong Performing Location: Operating for 15 Years on Site with Continued Foot Traffic Growth | 16% Increase Last 3 Years (Placer Ai)
- Affluent Area | $149,000 Avg Household Income Within 3 Miles
- New Construction and QSRs at Adjacent Tuckahoe Village Shopping Center
- New Retail and Office Development Planned Two (2) Miles Away | Oak Hill East Shopping Center | 18 AC Multi-Family Site, 22,000 SF Retail, 11,500 SF Office + Standalone Starbucks
- Five (5) Miles to University of Richmond | Fifteen (15) Miles to Downtown Richmond
Listing Price: $3,500,000
Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
9.9
Gross SF
13,750
Guarantor
Corporate Guarantee
Rentable SF
13,750
Price/Gross SF
$254.55
Lease Type
NNN Ground Lease
Rent Per Square Feet
$12.73
Investment Highlights
- CVS Pharmacy | Corporate Guaranty | Just Under 10 Years Remaining
- 13,750 SQ FT | 2009 Construction | 2.59 Acres
- Absolute NNN Ground Lease | No Landlord Obligations
- Strong Performing Location: Operating for 15 Years on Site with Continued Foot Traffic Growth | 16% Increase Last 3 Years (Placer Ai)
- Affluent Area | $149,000 Avg Household Income Within 3 Miles
- New Construction and QSRs at Adjacent Tuckahoe Village Shopping Center
- New Retail and Office Development Planned Two (2) Miles Away | Oak Hill East Shopping Center | 18 AC Multi-Family Site, 22,000 SF Retail, 11,500 SF Office + Standalone Starbucks
- Five (5) Miles to University of Richmond | Fifteen (15) Miles to Downtown Richmond
Investment Overview
Marcus & Millichap is pleased to present for sale a 13,750 square feet CVS Pharmacy located in Richmond, Virginia.
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