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17307 Hull Street Rd
Moseley, VA 23120

$5,350,000

Drugstore For Sale  •  10,000 Sq Ft

Property Details

  • Property Type Drugstore
  • Total Building Size 9,516 Sq Ft
  • Lot Size 4.4 ac
  • Building Class B
  • Year Built 2017
  • Cap Rate 5.21 %
  • Tenancy Single
0 Transit Score
18 Walk Score

Description

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer for sale this Zero Cash Flow CVS pharmacy (NYSE:CVS) located in the Richmond suburb of Moseley, Virginia. The Tenant, CVS Health Corporation, has 23 years remaining on a long-term NNN lease. The lease is guaranteed by CVS Health Corporation, who is investment
grade, rated “BBB” by Standard & Poor’s. CVS Health Corporation ranks eighth in the Fortune 500 with $195 billion in revenues, a five percent increase over last year as it closed its $70 billion acquisition of insurer Aetna. The loan in place must be assumed by a potential purchaser.

Highlights

23+ Years Remain on NNN Lease
Zero Cash Flow Structure; Ideal for 1031 Exchanges and Offers Cash Re-Advance Structure
Rent Increases in Option Periods
Affluent and Growing Richmond MSA Demographics; $139,709 AHHI; 13% Population Growth by 2023
Building Features Upgraded Architectural Detail

Financial Summary

Cap Rate: 5.21 %

Public Transportation

AirportDriveWalkDistance
Richmond International Airport 53 min - 28.7 mi
Dean Zang 202-536-3754 Marcus & Millichap Inc
Dean Zang 202-536-3754 Marcus & Millichap Inc