CVS 11120 Patterson Ave 13,750 SF Retail Building Richmond, VA 23238 $3,500,000 ($254.55/SF) 5% Cap Rate

INVESTMENT HIGHLIGHTS

  • CVS Pharmacy | Corporate Guaranty | Just Under 10 Years Remaining
  • 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
  • Five 5-Year Options each with a 10% Increase
  • Protected Wetlands to the South and East Precludes Competing Development
  • New Construction and QSRs at Adjacent Tuckahoe Village Shopping Center

PROPERTY FACTS

Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,750 SF
Building Class
B
Year Built
2009
Price
$3,500,000
Price Per SF
$254.55
Cap Rate
5%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.59 AC
Zoning
B2C
Parking
59 Spaces (4.29 Spaces per 1,000 SF Leased)
Frontage
208’ on Careybrook Dr

AMENITIES

  • Drive Thru

NEARBY MAJOR RETAILERS

Truist
Food Lion
First Citizens Bank

PROPERTY TAXES

  • Listing ID: 34997761

  • Date on Market: 3/3/2025

  • Last Updated:

  • Address: 11120 Patterson Ave, Richmond, VA 23238