14566 Frst Rd Forest, VA 24551-4689

Property Details for 14566 Frst Rd

Year built

2007

Lot size

2.80 lot acres

Property size

13,493 SF

Property type

Commercial real estate

APN

116 5 5

APU

11655

Description

This exceptional investment opportunity presents a fee-simple interest in a 13,495-square-foot CVS Pharmacy located at 14566 Forest Road, Forest, Virginia, 24551. The property, built in 2007, sits on a 2.8-acre lot and boasts 77 parking spaces. It benefits from an absolute NNN lease with a credit-rated corporate guarantor, offering minimal landlord responsibilities. The lease, commencing December 20, 2007, has a remaining term of approximately 8.2 years, with ten 5-year renewal options extending to January 31, 2033. The property enjoys 100% occupancy and generates a substantial net operating income (NOI) of $307,848, resulting in a price per square foot of $259.36. The property is strategically located near the intersection of Forest Road (US 221) and Perrowville Road (SR 663), experiencing combined average daily traffic exceeding 34,700 vehicles. This prime location is surrounded by major national retailers, including Kroger, Walmart, McDonald's, and many others, ensuring high visibility and strong consumer traffic. The property's zoning is PCD. The asking price is $3,500,000. This is a rare opportunity to acquire a high-performing, well-located, and stable investment property in a thriving community with an average household income exceeding $127,000 within a one-mile radius. The property is part of a dense population area with over 50,100 residents within a five-mile radius.

Location Insight

City

Forest

County

Bedford

State

Virginia

Longitude

-79.3009

Latitude

37.3704

CBSA code

31340

CBSA name

LYNCHBURG, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments