Language and Region
Currency

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

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

947 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

CVS - Floyd, VA 709 E Main St

7,700 SF Retail Building Floyd, VA 24091 £694,179 (£90.15/SF) 7.91% Net Initial Yield

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

INVESTMENT HIGHLIGHTS

Ideal, management-free investment for a passive investor
Nearby retailers include Food Lion, Dollar General, NAPA Auto Parts, and more

Strategically fronting East Main Street averaging 11,000 VPD
Excellent visibility via street frontage and multiple points of access

EXECUTIVE SUMMARY

• The tenant signed a recent lease extension leaving them with 6+ years of term and 6 (3-year) options to extend
• The lease features 5% rental increases at the beginning of each option to extend, steadily growing the asset’s NOI and providing a hedge against inflation
• Tenant pays for CAM, taxes, insurance and maintains most aspects of the premises
• Landlord responsibilities limited to roof, structure, HVAC, and electrical systems
• 2017 remodel that feature high quality materials, distinct design elements, and high-level finishes
• The AHHI within a 10-mile radius of the subject property exceeds $71,709
• There are 3,932 daytime employees and a population of 12,248

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Drug Store

Building Size

7,700 SF

Building Class

Year Built/Renovated

1965/2017

Price

£694,179

Price Per SF

£90.15

Net Initial Yield

7.91%

NOI

£54,917

Tenancy

Single

Number of Floors

Building FAR

0.33

Lot Size

0.54 AC

AMENITIES

Air Conditioning

Retailer
-
$9.99
Lorem Ipsum
Jan 0000

CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.