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Hampton, VA - CVS
918 W Mercury Boulevard | Hampton, VA 23666
$8,861,000
Price5%
Cap Rate$443,044
NOI13,606
± SF Offering GLA1.65
± AC Land AreaDescription
SRS National Net Lease Group is pleased to present the rare opportunity to acquire the fee simple interest (land and building ownership) in a 24-Hour CVS Pharmacy (with drive-thru), an absolute NNN leased, investment property located in Hampton, VA. The tenant, CVS, has over 23 years remaining on the initial term with 10 (5-year) options to extend. The lease is guaranteed by CVS Health Corporation and is absolute NNN with zero landlord responsibilities.
Location
The subject site is located at the heavily trafficked signalized, hard corner intersection of W. Mercury Boulevard and N. Armistead Ave with over 71,000 vehicles passing by each day. The asset has excellent visibility and access for a corner site with multiple points of ingress/egress on both adjacent streets. The site is conveniently located 2 miles south of Sentara CarePlex Hospital, specializing in cardiac and vascular care with 224 private patient rooms. CVS is only 1.5 miles east of numerous power centers including Peninsula Town Center, a $300 million mixed-use center featuring over 1MM SF of retail space. Major nearby tenants include Walmart Supercenter, Target, Lowe’s, BJ’s Wholesale, Barnes & Noble, Bass Pro Shops, Macy’s, JCPenney, CineBistro and more, further increasing consumer traffic and promoting crossover shopping. The 5-mile trade area is supported by a population of approximately 191,000 with an average household income of $61,000.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226