1701 Independence Blvd | Virginia Beach, VA 23455
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1701 Independence Blvd
Virginia Beach, VA 23455
Retail Property For Sale
Investment Highlights
- Credit Tenant: CVS offers a Corporate Guaranty with an Investment Grade BBB+ credit rating by Standard & Poor’s and a market cap of ±$135B.
- Bondable-like Lease: This property operates under an absolute NNN lease, providing extremely passive ownership to investors.
- Rare Rent Increases: This site offers its landlord attractive 3% increases every five-years.
- Essential Retailer: Amidst the global pandemic, CVS was deemed an essential retailer and has continued to provide valuable goods and services.
- Long Lease Term: +12.5 years remaining on the original lease ending in April 2034, with Ten (10), Five (5) year options.
- Strong Demographics: There are more than 176,000 people in a 5-mile radius with an average household income of $90,671.
Property Facts
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,225 SF
Building Class
B
Year Built
2009
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
2.33 AC
Zoning
B2
Parking
76 Spaces (5.75 Spaces per 1,000 SF Leased)
Frontage
384’ on Independence Blvd
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 1479-23-1567 | Improvements Assessment | $2,448,500 |
| Land Assessment | $2,088,400 | Total Assessment | $4,536,900 |
Property Taxes
Parcel Number
1479-23-1567
Land Assessment
$2,088,400
Improvements Assessment
$2,448,500
Total Assessment
$4,536,900
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
