CVS 31 W Main St 11,970 SF Retail Building Radford, VA 24141 $2,000,000 ($167.08/SF) 6.25% Cap Rate

Positioned at the gateway to Radford’s commercial corridor, the CVS at 31 W Main Street presents a rare opportunity to acquire a high-performing, single-tenant net lease asset with strong fundamentals and long-term stability. The property spans 1.9 acres and features a freestanding 11,970 SF retail building with a drive-thru and 69 dedicated parking spaces. CVS has operated at this location since 2008 under a 25-year NNN ground lease guaranteed by corporate, with six 5-year renewal options extending through 2063. The lease structure is absolute NNN, with the tenant responsible for taxes, insurance, CAM, roof, and structure—offering zero landlord responsibilities.
Strategically located at a signalized intersection along West Main Street with over 18,000 vehicles per day, the site benefits from dual access points and exceptional visibility. It is the only pharmacy in the Radford MSA, serving over 24,000 residents with no direct competition. The property is surrounded by major retailers and educational institutions, including Radford University (9,400+ students), Radford High School, and multiple elementary and intermediate schools, creating consistent foot traffic and built-in demand.
CVS is currently paying below-market rent at $10.44/SF, compared to the area’s market rate of $22/SF, providing future upside potential. With a corporate guarantee from CVS Health—a BBB-rated, publicly traded company with over 9,000 locations and $372.8B in 2024 revenue—this asset offers a secure and predictable income stream in a growing college town market.