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CVS 2712 Peters Creek Rd 11,970 SF Retail Building Roanoke, VA 24019 $3,672,232 ($306.79/SF) 7.75% Cap Rate
Investment Highlights
- Adjacent to 216-unit Smith Ridge Commons apartments, opening 2026, driving daily-needs demand.
- Signalized intersection with ±28,100 VPD; direct access to I-581 and I-81.
- Corporate guarantee from CVS Health (NYSE: CVS), one of the largest pharmacy companies in the U.S.
- $75.8M Roanoke County Career & Technology Center opening Fall 2026 along Peters Creek Road.
- Absolute NNN lease — no landlord responsibilities; ideal for 1031 exchange investors.
- ±2.28-acre parcel with drive-thru, multiple ingress/egress points, and strong road frontage.
Executive Summary
Kyle Matthews
License # 225225982, 226035518 (VA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
License # 225225982, 226035518 (VA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,970 SF
Building Class
C
Year Built
2006
Price
$3,672,232
Price Per SF
$306.79
Cap Rate
7.75%
NOI
$284,594
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.28 AC
Opportunity Zone
Yes
Zoning
C2S
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began as a single store in Lowell, Massachusetts in 1963 and grew into a retail pharmacy business within CVS Health. The company dispenses prescriptions and supports patient care through vaccinations, counseling, prescription savings, mail order pharmacy, specialty pharmacy, and prescription delivery, while also selling health and wellness products and general merchandise. CVS Pharmacy remains a major U.S. pharmacy chain with a broad neighborhood presence and is part of a larger health care platform that connects retail pharmacy, pharmacy benefits, and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 037.17-01-04.01-0000 | Improvements Assessment | $1,206,100 |
| Land Assessment | $645,600 | Total Assessment | $1,851,700 |
Property Taxes
Parcel Number
037.17-01-04.01-0000
Land Assessment
$645,600
Improvements Assessment
$1,206,100
Total Assessment
$1,851,700
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