Drug Store

CVS Pharmacy | Richmond MSA | Long Term Absolute Net Lease | Signalized Hard Corner Location

2537 Weir Rd, Chester (Richmond MSA), VA 23831

Listing Price: $6,328,345

Cap Rate
6.25%
Tenant Name
CVS
Years Remaining On Lease
13.5
Gross SF
13,225
Guarantor
Corporate Guarantee
Rentable SF
13,225
Price/Gross SF
$478.51
Lease Type
Absolute Net
Rent Per Square Feet
$29.91

Investment Overview

Chester is a census-designated place (CDP) in Chesterfield County, Virginia. Chesterfield County is located just south of Richmond and primarily defined by the James River to the north and the Appomattox River to the south. Its county seat is Chesterfield Court House. Currently it is the fourth-most populous county in Virginia (behind Fairfax, Prince William, and Loudoun, respectively). In July 2019, the population was estimated to be 352,802. Chesterfield County is part of the Greater Richmond Region, and the county refers to much of the northern portion of the county as “North Chesterfield.” In 2020, Chesterfield County earned 14 National Achievement Awards from the National Association of Counties.

Investment Highlights

  • Long Term Absolute Net Lease. 11 Year Historical Occupancy Demonstrating a Strong Commitment to the Location. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.
  • Positioned Along Area's Major Retail & Traffic Corridor. Hard Corner Location at a Signalized Intersection - Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 22
  • Affluent Richmond Suburb: Features an Average Household Income of more than $98k within a 5-Mile Radius.
  • Located Across the Street from Lowe's, Target and a Ross-TJMaxx-Homegoods Anchored Power Center. Near Numerous other National Retailers including Big Lots, Kroger, Home Depot, Food Lion, Kohl's, Office Depot and many more.
  • Adjacent to John Tyler Community College, with a Total Enrollment of more than 2,091 Students & Near Thomas Dale High School, with a Total Enrollment of more than 2,350 Students
  • The Site is Located within South Richmond's Industrial Submarket - in Close Proximity from Numerous Light Industrial and Manufacturing Plants.
  • Parent Company is Currently Ranked #7 on the Fortune 500. The CVS/Aetna Merger Potentially Created a Fortune #4 Company with More than $18 Billion in Pro Forma EBITDA. S&P Investment Grade Credit Rating of "BBB" for the Parent Company.
  • CVS Acquired Aetna for $70 Billion. Aetna Inc. is one of the Nation's Leading Diversified Health Care Benefits Companies with a Network that Stretches Across the Country / Globe. Pro Forma CVS / Aetna Combined Annual Revenue is $221 Billion.

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

Drug Store

CVS Pharmacy | Richmond MSA | Long Term Absolute Net Lease | Signalized Hard Corner Location

Listing Price: $6,328,345

Cap Rate
6.25%
Tenant Name
CVS
Years Remaining On Lease
13.5
Gross SF
13,225
Guarantor
Corporate Guarantee
Rentable SF
13,225
Price/Gross SF
$478.51
Lease Type
Absolute Net
Rent Per Square Feet
$29.91

Investment Highlights

  • Long Term Absolute Net Lease. 11 Year Historical Occupancy Demonstrating a Strong Commitment to the Location. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.
  • Positioned Along Area's Major Retail & Traffic Corridor. Hard Corner Location at a Signalized Intersection - Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 22
  • Affluent Richmond Suburb: Features an Average Household Income of more than $98k within a 5-Mile Radius.
  • Located Across the Street from Lowe's, Target and a Ross-TJMaxx-Homegoods Anchored Power Center. Near Numerous other National Retailers including Big Lots, Kroger, Home Depot, Food Lion, Kohl's, Office Depot and many more.
  • Adjacent to John Tyler Community College, with a Total Enrollment of more than 2,091 Students & Near Thomas Dale High School, with a Total Enrollment of more than 2,350 Students
  • The Site is Located within South Richmond's Industrial Submarket - in Close Proximity from Numerous Light Industrial and Manufacturing Plants.
  • Parent Company is Currently Ranked #7 on the Fortune 500. The CVS/Aetna Merger Potentially Created a Fortune #4 Company with More than $18 Billion in Pro Forma EBITDA. S&P Investment Grade Credit Rating of "BBB" for the Parent Company.
  • CVS Acquired Aetna for $70 Billion. Aetna Inc. is one of the Nation's Leading Diversified Health Care Benefits Companies with a Network that Stretches Across the Country / Globe. Pro Forma CVS / Aetna Combined Annual Revenue is $221 Billion.

Investment Overview

Chester is a census-designated place (CDP) in Chesterfield County, Virginia. Chesterfield County is located just south of Richmond and primarily defined by the James River to the north and the Appomattox River to the south. Its county seat is Chesterfield Court House. Currently it is the fourth-most populous county in Virginia (behind Fairfax, Prince William, and Loudoun, respectively). In July 2019, the population was estimated to be 352,802. Chesterfield County is part of the Greater Richmond Region, and the county refers to much of the northern portion of the county as “North Chesterfield.” In 2020, Chesterfield County earned 14 National Achievement Awards from the National Association of Counties.

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

MM Texture Background
MM Textured Background Lower