CVS Pharmacy – Chatham, VA

  • Winchester_rep_sized

Available $3,355,340 - Retail - Single Tenant
Cap Rate:  5.15%Size:  11,945 SFTerm:  20 Years Remaining Print

 Investment Offering & Highlights

  • ABSOLUTE NET LEASE STRUCTURE
    Zero landlord responsibilities for operating or capital expenses
  • CORPORATE BACKED LONG TERM LEASE
    CVS signed a new 20 year lease underscoring their long term commitment to the site
  • BBB CREDIT RATING BY STANDARD & POOR’S
    Tenant is publicly traded on the NYSE and reported annual revenues in excess of $209 billion in 2019
  • DIRECTLY ACROSS FROM TIGHT SQUEEZE PLAZA
    106,000 square foot retail center anchored by Food Lion, Roses and Dollar General
  • HARD CORNER LOCATION WITH DRIVE-THRU
    Ideally positioned along the area’s main traffic thoroughfare (17,600 vpd)

Property Description

THE SUBJECT PROPERTY IS A 11,954 SQUARE FOOT CVS LOCATED IN CHATHAM, VIRGINIA. CVS HAS SHOWN LONG TERM COMMITMENT TO THE SITE HAVING EXECUTED A NEW 20 YEAR FIRM LEASE TERM WHICH RUNS THROUGH 2039. THE LEASE IS STRUCTURED WITH FIVE PERCENT RENT INCREASES BETWEEN EACH OF THE FOUR 5-YEAR RENEWAL OPTIONS.

The lease is absolute net providing for zero landlord responsibilities. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB credit rating by Standard & Poor’s and reported annual revenues in excess of $209 billion in 2019.

Located at the intersection of US Highway 29 and Fairview Road, the subject property is positioned directly across from Tight Squeeze Plaza, a 106,000 square foot retail center anchored by Food Lion, Roses and Dollar General.  Other national retailers in the area include McDonald’s, Advance Auto Parts, BB&T, Verizon and more.  CVS features excellent exposure along US Highway 29 which boasts daily traffic counts in excess of 17,600 vehicles.

Additional Details

  • Price: $3,355,340
  • Cap Rate: 5.15%
  • Lease Term: 20 Years Remaining
  • Year Built: 2006
  • Building Size: 11,945
  • Lot Size: 2.14 Acres
  • Status: Available
Property Location