Drive-Thru Rite Aid Absolute
For Sale
Contact for pricing
Pending
1415 Cedar Road, Chesapeake, VA 23322
Absolute NNN, corporate-guaranteed Rite Aid with drive-thru features on a signalized corner with significant daily traffic.
Days on Market112
Property Features for 1415 Cedar Road
General Information
Standard status
Pending
Property subtype
Retail
Site & Location
Traffic Count
26,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Listing Agency:
SRS Real Estate Partners New York
(480) 221-4221
Listed By:
Britt Raymond · License #NY 10491212709
Source:
Crexi
Added: Apr 10
Changed: Jul 23
Last Checked: Jul 29 at 4:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners New York
Investment Insights
Based on property information with market context.
Fee simple opportunity offering an absolute NNN leased Rite Aid property with a corporate guarantee and zero landlord responsibilities. The site is drive-thru equipped and leased to Eckerd Corporation, which has approximately five years remaining in the initial term, along with four 5-year option periods to extend.
The property sits at a signalized hard corner intersection of Cedar Road/165 State Highway and Greens Edge Drive, with over 26,500 vehicles passing by each day. It benefits from significant highway frontage, strong visibility, and multiple points of access along both adjacent streets. Rite Aid is positioned just south of Tidewater Community College – Chesapeake Campus, which has over 31,308 students enrolled. Promenade at Cedar, a recently completed shopping center across the way, includes multiple new tenants, and other nearby national retailers include Walmart Supercenter, Farm Fresh, Dollar Tree, and AutoZone.
The property sits at a signalized hard corner intersection of Cedar Road/165 State Highway and Greens Edge Drive, with over 26,500 vehicles passing by each day. It benefits from significant highway frontage, strong visibility, and multiple points of access along both adjacent streets. Rite Aid is positioned just south of Tidewater Community College – Chesapeake Campus, which has over 31,308 students enrolled. Promenade at Cedar, a recently completed shopping center across the way, includes multiple new tenants, and other nearby national retailers include Walmart Supercenter, Farm Fresh, Dollar Tree, and AutoZone.
Key Highlights
- Fee simple acquisition of an absolute NNN leased Rite Aid investment with corporate guarantee (landlord has zero responsibilities).
- Drive‑thru equipped Rite Aid on a signalized hard‑corner location at Cedar Rd/165 State Highway & Greens Edge Dr.
- Tenant Eckerd Corporation has ~5 years remaining in the initial term with 4 (5‑year) option periods to extend.
Property Analytics
Current Use
Lease Details
26,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
96k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 28%
Groceries 18%
Home Improvements & Furnishings 2%
McDonald's
Dining
21,553 visits/mo
0.4 miles
7-Eleven
Shops & Services
18,366 visits/mo
0.3 miles
Aldi
Groceries
17,386 visits/mo
0.3 miles
Plaza Azteca
Dining
7,864 visits/mo
0.5 miles
Hardee's
Dining
7,669 visits/mo
0.5 miles
Demographics for 23322, VA
66,994
Population
22,386
Households
3
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
187.8 sq mi
ZIP Area
357
Density / Sq Mi
$133,522
Median Household Income
$55,549
Median Earnings
$1,870
Median Rent
$448,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN, corporate-guaranteed Rite Aid with drive-thru features on a signalized corner with significant daily traffic.
Where is this nnn property located?
The property is located at 1415 Cedar Road Chesapeake, VA.
What are key features of this property?
This property features: Fee simple acquisition of an absolute NNN leased Rite Aid investment with corporate guarantee (landlord has zero responsibilities).; Drive‑thru equipped Rite Aid on a signalized hard‑corner location at Cedar Rd/165 State Highway & Greens Edge Dr.; Tenant Eckerd Corporation has ~5 years remaining in the initial term with 4 (5‑year) option periods to extend.
