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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 Consumer Value Stores in Lowell, Massachusetts in 1963 and introduced pharmacies inside stores a few years later in Cranston, Rhode Island. The business operates as part of CVS Health, a broader health care company that combines retail pharmacy with pharmacy services, mail order, specialty pharmacy, prescription delivery, vaccinations, and clinical support. CVS Pharmacy serves consumers through a wide network of neighborhood pharmacies and offers services tied to medication access, counseling, and wellness needs. Over time, the company expanded from a single store format into a major U.S. pharmacy presence with a national footprint in health care delivery.
| 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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