Drug Store

Walgreens | Recently Extended | Richmond, VA

2924 Chamberlayne Ave, Richmond, VA 23222

Listing Price: $2,461,538

Cap Rate
6.50%
Tenant Name
Wealgreens
Years Remaining On Lease
7.5
Guarantor
Corporate Guarantee
Rentable SF
13,855
Lease Type
Double Net
Rent Per Square Feet
$11.55

Investment Overview

INVESTMENT GRADE TENANT –The tenant exercised a blend-extend which demonstrates their commitment to this location. The rent is now set at approximately $11 PSF. The tenant has operated here since 1996, and this is the second renewal at this location. MATURE NEIGHBORHOOD LOCATION– The site is located at the signaled intersection of Chamberlayne Avenue (Route 1) and West Brookland Park Boulevard with a combined 33,000 vehicles per day. The parcel has excellent visibility, prominent frontage and three means of access. It is located just one-mile from Interstate-64, where it interchanges and overlaps with Interstate-95, and carries 155,000 vehicles per day as it travels near Downtown Richmond and continues eastward.

Investment Highlights

  • RECENT EXTENSION SHOWS COMMITMENT TO LOCATION
  • HIGH TRAFFIC SIGNALED CORNER PARCEL
  • INFILL SUBMARKET WITH STRONG POPULATION DENSITY

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

Drug Store

Walgreens | Recently Extended | Richmond, VA

Listing Price: $2,461,538

Cap Rate
6.50%
Tenant Name
Wealgreens
Years Remaining On Lease
7.5
Guarantor
Corporate Guarantee
Rentable SF
13,855
Lease Type
Double Net
Rent Per Square Feet
$11.55

Investment Highlights

  • RECENT EXTENSION SHOWS COMMITMENT TO LOCATION
  • HIGH TRAFFIC SIGNALED CORNER PARCEL
  • INFILL SUBMARKET WITH STRONG POPULATION DENSITY

Investment Overview

INVESTMENT GRADE TENANT –The tenant exercised a blend-extend which demonstrates their commitment to this location. The rent is now set at approximately $11 PSF. The tenant has operated here since 1996, and this is the second renewal at this location. MATURE NEIGHBORHOOD LOCATION– The site is located at the signaled intersection of Chamberlayne Avenue (Route 1) and West Brookland Park Boulevard with a combined 33,000 vehicles per day. The parcel has excellent visibility, prominent frontage and three means of access. It is located just one-mile from Interstate-64, where it interchanges and overlaps with Interstate-95, and carries 155,000 vehicles per day as it travels near Downtown Richmond and continues eastward.

Exclusively Listed By

Broker of Record

  • Dawson Rinder

    Sales Manager

    License(s): VA: 0225215181

    Virginia

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