Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    400 Riverside Dr Collinsville, VA

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,290,000

    NNN leased CVS with 15 years remaining in Collinsville.

    Property size:
    13,049 SF
    Lot size:
    1.80 Acres

    Property Features for 400 Riverside Dr

    General Information

    Size
    13,049 SF
    Lot size
    1.80 Acres

    We can help!

    Listing Contact
    Robert Schmidt
    Robert Schmidt
    Source: Moodyscre

    Listing Agent: Robert Schmidt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Collinsville CVS Investment Opportunity

    This property is an absolute NNN leased investment opportunity with zero landlord responsibilities. The lease has approximately 15 years remaining, with an additional 40 years available in option periods. The tenant, CVS, is an established retail pharmaceutical provider with over 9,000 locations throughout the United States and 2024 revenues exceeding $372 billion. The property is located approximately 1,000 feet from the Stanleytown Health & Rehabilitation center (120 beds) and approximately 0.5 miles from Bassett High School, positioning it to serve the pharmaceutical needs of the Basset area. The location benefits from approximately 259,000 annual visitors, according to Placer.ai data from 2024, providing customer exposure and in-store engagement. The property size is 13,049 square feet.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Similar Places Nearby

    CVS Pharmacy, COVID-19 Drive-Thru Testing at Walgreens, Leslie Goad, Walgreens Pharmacy

    Map

    City
    Collinsville
    County
    Henry
    State
    Virginia
    Longitude
    -79.9136731
    Latitude
    36.7240046

    Nearby Similar for Sale

    • $308,900
      1.90 Acres

      Versatile Commercial Building in Collinsville

      Commercial building with spacious interior suitable for various business uses.
      65 Printers Ln, Collinsville, VA 24078
      View Details
    • $499,900
      0.29 Acres

      Collinsville Commercial Property For Sale

      Commercial property in high-traffic area with excellent visibility.
      2089 Virginia Ave, Collinsville, VA 24078
      View Details
    • $339,000
      0.22 Acres

      Collinsville Commercial Building For Sale

      5,952 SF flex building ideal for retail or office.
      2808 Virginia Ave, Collinsville, VA 24078
      View Details
    • $350,000
      7.25 Acres

      Collinsville Office Building on Acreage

      Office building with industrial charm on 7.25 acres.
      310 Wagoner Rd, Collinsville, VA 24078
      View Details
    • $350,000
      7.25 Acres

      Collinsville Commercial Property on 7.25 Acres

      Commercial building with kitchen, meeting area, and storage on 7.25 acres.
      310 Wagoner Rd, Collinsville, VA 24078
      View Details
    • $599,900
      3.00 Acres

      Expansive Warehouse on Virginia Ave

      Warehouse with office space, vehicle bays, and high visibility.
      3495 Virginia Ave, Collinsville, VA 24078
      View Details
    • $350,000
      0.80 Acres

      Multi-Purpose Commercial Building in Collinsville

      Commercial building with frontage on Virginia Ave, ready for new construction.
      2067 Virginia Ave, Collinsville, VA 24078
      View Details
    • New
      $330,000
      5,740 SF

      Commercial Property in Collinsville, VA

      Investment opportunity in a strong location with steady demand.
      80 Printers Ln, Collinsville, VA 24078
      View Details
    • $469,000
      0.81 Acres

      Prime Commercial Location Investment Opportunity

      Commercial property in Collinsville, VA, currently leased with steady income.
      5145 Kings Mountain Rd, Collinsville, VA 24078
      View Details
    • $295,000
      0.75 Acres

      Collinsville Commercial Property For Sale

      Well-maintained commercial property in high-traffic area, ideal for investors.
      4940 Kings Mountain Rd, Collinsville, VA 24078
      View Details
    • $379,000
      0.56 Acres

      Collinsville Commercial Investment Opportunity

      Fully occupied commercial building with steady rental income in Collinsville.
      4848 Kings Mountain Rd, Collinsville, VA 24078
      View Details

    FAQs

    What type of property is this?
    Drug store - NNN leased CVS with 15 years remaining in Collinsville.
    Where is this drug store located?
    The property is located at 400 Riverside Dr Collinsville, VA.
    What is the asking price?
    The asking price for this property is $2,290,000.
    What are key features of this property?
    This property features: - Absolute NNN Lease with ZERO landlord responsibilities.; - Approximately 15 years remaining on the lease, with an additional 40 years in option periods.; - Strong Foot Traffic: Approximately 259,000 annual visitors (Placer.ai, 2024).
    (864) 678-5995
    Request Owner's contact information
    400 Riverside Dr Collinsville, VA
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    400 Riverside Dr
    Collinsville, VA
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    400 Riverside Dr Collinsville, VA
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robert Schmidt
    Robert Schmidt
    (864) 678-5995
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.