CVS 6150 Franconia Rd 9,145 SF Retail Building Alexandria, VA 22310 $4,999,000 ($546.64/SF) 6% Cap Rate

A 27-YEAR CVS LOCATION WITH RECENT 15 YEAR EXTENSION CVS has operated at this
location since 1998, marking more than 27 years of continuous occupancy. Upon running out of
options, the tenant executed a 15-year term extension approximately three years ago. There were no
concessions for the renewal, and the rental rate remained flat, underscoring the store’s success and
long-term commitment to the site. While sales are not reported, Placer.ai data further supports this
location’s strength, ranking the store in the 61st percentile nationally and showing a 21% increase in
customer traffic over the past three years. Additionally, on page 6 there is a submarket pharmacy
competition chart which ranks this unit as the highest traffic location (per Placer.Ai) in its trade area.
NO OPTIONS TO RENEW In negotiations of the lease extension, ownership wisely elected not to
grant CVS any renewal options beyond its new term. This is immensely rare and highly advantageous
to the owner. It provides the landlord the ability to reset rents to market at lease expiration or
pursue a redevelopment or alternative exit strategy at the conclusion of the term. It is notable that
the adjacent building is for sale, and the aggregation of the two parcels would total 1.83 acres. This
could be ideal for any number of high paying users; especially convenience stores like Wawa.
LIMITED OBLIGATIONS - While this is a NN lease, the language is favorable to the landlord and is limited
to structural integrity and roof repair and replacements. Notably, in 2025 CVS completed a full parking
lot overlay and painted portions of the façade, keeping the property attractive and well-maintained.
The roof, while original, has been maintained by the current ownership and a recent report shows it is
in good condition. Landlord is permitted to bill select repairs to tenant if not completed by the tenant.
A STELLAR INFILL LOCATION AND “AT MARKET” RENT RATE- As to the site’s location, this
property is immensely well located in every regard. It is an at-grade signaled corner location with
high visibility and three means of access. Traffic counts along Franconia Road are 21,000, and the
cross streets run immediately in a high density of homes. Within one mile, there are more than 16,190
people, with high average household incomes of $184,531. The site is proximate to three schools
(Franconia Elementary School, Key Middle School, and Thomas Edison High School) which provide
additional traffic during daytime hours. The two schools have more than 3,466 students plus staff.
PROXIMITY TO MASS TRANSIT & METRO - The property is conveniently located near both VRE and
Metro stations, offering convenient access for commuting customers (only 1.45 miles away as the crow
flies). Additionally, a bus stop is situated directly across Franconia Forest Lane, in front of the shopping
strip that includes Honey Baked Ham and others.
The property is in close proximity to the Beltway/395 Interchange (“The Mixing Bowl”) further enhancing
accessibility for regional drive times, underscoring its strategic location for both local and commuter
traffic.