NNN Drug Store
For Sale
Contact for pricing
4238 W Hundred Rd, Chester, VA 23831
Walgreens tenant secured by an 11+ year remaining lease with multiple extension options and tenant-paid operating expenses.
Property Size14,820 SF
Price / SF$259.11
Days on Market252
Property Features for 4238 W Hundred Rd
General Information
Standard status
Active
Size
14,820 SF
Property subtype
RETAIL
Building Details
Tenancy
Single
Listing Agency:
SRS Real Estate Partners | McLean
(202) 286-1542
Listed By:
Andrew Fallon
(202) 286-1542
Source:
Moodyscre
Added: Nov 20, 2025
Changed: Jul 30
Last Checked: Jul 30 at 7:39AM
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 | McLean
Investment Insights
Based on property information with market context.
This Walgreens NNN drug store is supported by a long-term tenant commitment. The tenant currently has 11+ years remaining on their initial lease, along with 8 (5-year) options to extend.
Tenant responsibility is a key feature of the structure. The tenant pays for CAM, taxes, and insurance, and maintains all aspects of the premises, with no landlord responsibilities noted.
The property is 14,820 square feet and is located at 4238 W Hundred Rd in Chester, VA 23831.
Tenant responsibility is a key feature of the structure. The tenant pays for CAM, taxes, and insurance, and maintains all aspects of the premises, with no landlord responsibilities noted.
The property is 14,820 square feet and is located at 4238 W Hundred Rd in Chester, VA 23831.
Key Highlights
- Walgreens tenant with 11+ years remaining on the initial lease
- 8 (5‑year) options to extend the lease
- Tenant pays CAM, taxes, and insurance
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $325.4k | $21.96 |
| − Vacancy | −$16.3k | −$1.10 |
| EGI | $309.2k | $20.86 |
| − OpEx | −$77.3k | −$5.22 |
| NOI | $231.9k | $15.65 |
14,820 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,881 @ 7.0% cap · market cap 6.04%
Second Best
Retail
$2.68M
$2.35M – $3.13M
NOI $187,840 @ 7.0% cap · market cap 4.89%
Theoretical Best
Healthcare Medical
$29.69M
$25.98M – $34.64M
NOI $2,078,487 @ 7.0% cap · market cap 54.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23831, VA
37,216
Population
15,430
Households
2.4
Avg Household Size
40
Median Age
37%
College-Educated
94%
High-School Grad
23.6 sq mi
ZIP Area
1,577
Density / Sq Mi
$92,092
Median Household Income
$52,114
Median Earnings
$1,560
Median Rent
$300,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walgreens Pharmacy — 4238 W Hundred Rd, Chester, VA 23831
- Power of Pink Makeover Studio - Anita Ruffin — 11923 Centre St, Chester, VA 23831
- Todd Wagner, RPh — 4408 W Hundred Rd, Chester, VA 23831, United States
- Shannon Kennedy — 4238 w hundred rd, chester, va 238311505
- Zenobia Hurdle — 4408 W Hundred Rd, Chester, VA 238311738
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens tenant secured by an 11+ year remaining lease with multiple extension options and tenant-paid operating expenses.
Where is this drug store located?
The property is located at 4238 W Hundred Rd Chester, VA.
What is the asking price?
The asking price for this property is $3,840,000.
What are key features of this property?
This property features: Walgreens tenant with 11+ years remaining on the initial lease; 8 (5‑year) options to extend the lease; Tenant pays CAM, taxes, and insurance
