NNN Pharmacy Retail
6150 Franconia Rd Alexandria, VA 22310
6150 Franconia Rd, Alexandria, VA, 22310
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For Sale
Contact for pricing
Long-term CVS property with a recent 15-year lease extension and a maintained exterior including parking lot overlay.
Property Size9,145 SF
Price / SF$552.21
Days on Market121
Property Features for 6150 Franconia Rd
General Information
- Standard status
- Active
- Size
- 9,145 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1973
Listing agency
Marcus & Millichap - Washington, D.C.
(443) 553-6755
Listed by
Dean Zang · License #MD 665335
Source
Crexi
Added: Mar 25 Updated: Jul 22 at 7:22PM Checked: Jul 22 at 7:22PM
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 Marcus & Millichap - Washington, D.C.
Investment Insights
Based on property information with market context.
This NNN CVS pharmacy property has been in continuous operation since 1998 and features a recent 15-year lease extension executed approximately three years ago. The renewal reflected a flat rental rate with no concessions reported. The lease is described as NN with landlord-favorable language limited to structural integrity and roof repair and replacements, and the landlord is permitted to bill select repairs to the tenant if not completed by the tenant. In 2025, CVS completed a parking lot overlay and painted portions of the facade, and a recent report indicates the original roof is in good condition.
The site is an at-grade signaled corner location with high visibility and three means of access along Franconia Road, which has reported traffic counts of 21,000. The cross streets run immediately within a high-density residential area. A bus stop is situated directly across Franconia Forest Lane, in front of a shopping strip that includes Honey Baked Ham and others, and the property is near VRE and Metro stations. It is also proximate to the Beltway/395 interchange, supporting convenient access for local and commuter traffic.
CVS is the current occupant. Ownership has maintained the property while continuing to support ongoing site improvements, and there are no renewal options remaining beyond the current new term as described in the remarks.
The site is an at-grade signaled corner location with high visibility and three means of access along Franconia Road, which has reported traffic counts of 21,000. The cross streets run immediately within a high-density residential area. A bus stop is situated directly across Franconia Forest Lane, in front of a shopping strip that includes Honey Baked Ham and others, and the property is near VRE and Metro stations. It is also proximate to the Beltway/395 interchange, supporting convenient access for local and commuter traffic.
CVS is the current occupant. Ownership has maintained the property while continuing to support ongoing site improvements, and there are no renewal options remaining beyond the current new term as described in the remarks.
Key Highlights
- CVS property built in 1973 with continuous occupancy since 1998 and a 15‑year lease extension executed about 3 years ago
- Lease has no renewal options after the new term; landlord to reset rents to market at expiration or pursue redevelopment/alternate exit
- 2025 upgrades include a full parking lot overlay and façade painting; roof is original but maintained and reported in good condition
Local 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 | $493.8k | $54.00 |
| − Vacancy | −$19.8k | −$2.16 |
| EGI | $474.1k | $51.84 |
| − OpEx | −$118.5k | −$12.96 |
| NOI | $355.6k | $38.88 |
9,145 SF · lease $54.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$5.08M
$4.44M – $5.93M
NOI $355,558 @ 7.0% cap · market cap 7.04%
Second Best
Retail
$4.37M
$3.82M – $5.10M
NOI $305,916 @ 7.0% cap · market cap 6.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
CVS Photo
(Bike/Boat/Book/etc) Store
CVS Pharmacy
Pharmacy
CVS
Pharmacy
Cardtronics ATM
Atm
MoneyGram
Bank
Similar For Sale Nearby
Similar Off Market Nearby
- CVS Pharmacy — 6150 Franconia Rd, Alexandria, VA 22310
- Therapeutic Massage MC, LLC — first floor, 6285 Franconia Rd, Alexandria, VA 22310
- Cherish Premium Sanitary Napkins — 6373 racetec pl, springfield, va 22150
FAQs
What type of property is this?
Drug store - Long-term CVS property with a recent 15-year lease extension and a maintained exterior including parking lot overlay.
Where is this drug store located?
The property is located at 6150 Franconia Rd Alexandria, VA.
What is the asking price?
The asking price for this property is $5,050,000.
What are key features of this property?
This property features: CVS property built in 1973 with continuous occupancy since 1998 and a 15‑year lease extension executed about 3 years ago; Lease has no renewal options after the new term; landlord to reset rents to market at expiration or pursue redevelopment/alternate exit; 2025 upgrades include a full parking lot overlay and façade painting; roof is original but maintained and reported in good condition
