CVS Drug Store with Absolute NNN
For Sale
Contact for pricing
2511 ANDERSON HWY, Powhatan, VA 23139
The 2017-built facility occupies a signalized intersection with access to Anderson Highway and Dorset Road.
Property Size9,657 SF
Price / SF$369.83
Days on Market187
Property Features for 2511 ANDERSON HWY
General Information
Standard status
Active
Size
9,657 SF
Property subtype
Retail
Net Operating Income
$247,194
Additional Details
Traffic Count
27,000 vehicles/day
Building Details
Year Built
2017
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield - San Diego, California
Listed By:
Brandon Price · License #CA 01822998
Source:
Crexi
Added: Apr 13
Changed: Oct 13
Last Checked: Oct 16 at 7:11AM
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 Cushman & Wakefield - San Diego, California
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Investment Insights
Based on property information with market context.
Completed in 2017, this 9,657-square-foot CVS drug store is supported by an absolute NNN lease that began in October 2019. The initial lease term spans 25 years, with approximately 19 years remaining and ten additional five-year renewal options. The structure places responsibility for property expenses with the tenant, subject to the lease terms.
The store sits at the signalized intersection of Anderson Highway and Dorset Road in Powhatan, Virginia, approximately 20 miles from downtown Richmond. The surrounding commercial corridor reports daily traffic exceeding 27,000 vehicles and includes Tractor Supply Co., McDonald’s, Sheetz, and Citizens Bank. The property is part of the Richmond MSA and serves a retail trade area characterized in the source information as a bedroom community.
The store sits at the signalized intersection of Anderson Highway and Dorset Road in Powhatan, Virginia, approximately 20 miles from downtown Richmond. The surrounding commercial corridor reports daily traffic exceeding 27,000 vehicles and includes Tractor Supply Co., McDonald’s, Sheetz, and Citizens Bank. The property is part of the Richmond MSA and serves a retail trade area characterized in the source information as a bedroom community.
Key Highlights
- 9,657‑square‑foot CVS drug store completed in 2017
- Absolute NNN lease commenced in October 2019
- Approximately 19 years remain on the 25‑year primary lease term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,285
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,505,700
$2.5M
Cap Rate 7%
$1,789,786
$1.8M
Cap Rate 9%
$1,392,056
$1.4M
Market Conditions
NOI Build-Up for 9,657 SF
Gross rent
$179.6K $18.60/SF
− Vacancy
−$12.6K −$1.30/SF
EGI
$167.0K $17.30/SF
− OpEx
−$41.8K −$4.32/SF
NOI
$125.3K $12.97/SF
Area
Powhatan County, VA
Vacancy
7.00%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,505,700
Cap Rate 7%
$1,789,786
Cap Rate 9%
$1,392,056
Alternative Uses
Best Use
Specialty Retail
$1.79M
$1.57M – $2.09M
NOI $125,285 @ 7.0% cap · market cap 3.51%
Second Best
Retail
$1.51M
$1.32M – $1.76M
NOI $105,398 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,176 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
27,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23139, VA
27,015
Population
10,659
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
93%
High-School Grad
240.5 sq mi
ZIP Area
112
Density / Sq Mi
$109,231
Median Household Income
$58,336
Median Earnings
$1,153
Median Rent
$370,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- CVS Pharmacy — 2511 Anderson Hwy, Powhatan, VA 23139
- Elizabeth Goodwyn — 2511 Anderson Hwy, Powhatan, VA 231397508
- Erin Zatelli — 2511 Anderson Hwy, Powhatan, VA 231397508
- Martha Talley — 2511 Anderson Hwy, Powhatan, VA 231397508
- Mary Shepperson — 2511 Anderson Hwy, Powhatan, VA 231397508
Frequently Asked Questions
What type of property is this?
Drug store - The 2017-built facility occupies a signalized intersection with access to Anderson Highway and Dorset Road.
Where is this drug store located?
The property is located at 2511 ANDERSON HWY Powhatan, VA.
What is the asking price?
The asking price for this property is $3,571,450.
What are key features of this property?
This property features: 9,657‑square‑foot CVS drug store completed in 2017; Absolute NNN lease commenced in October 2019; Approximately 19 years remain on the 25‑year primary lease term
