1511 Emancipation Hwy, Fredericksburg, VA 22401
- Retail properties & Spaces
- 13,291 SF
- 2.54 lot acres
Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 1511 Emancipation Hwy
- Year built
- 2014
- Lot size
- 2.54 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
Exceptional investment opportunity: a 13,291 square foot CVS Pharmacy in Fredericksburg, VA, boasting a 6.25% cap rate and $275,000 NOI. This absolute NNN net lease features a credit-rated corporate guarantee from CVS, providing significant security. The property enjoys a prime location at a signalized intersection with high visibility and traffic counts (51,000 VPD combined, plus I-95 access). Built in 2014, the property sits on a 2.54-acre lot and includes a drive-thru. The lease, commencing July 18, 2014, and expiring January 31, 2035, has over 10 years remaining, with ten 5-year renewal options at 10% rent bumps each. The property benefits from a strong demographic profile, with affluent residents and proximity to major shopping centers, Mary Washington Hospital, and the University of Mary Washington. This is a management-free investment with zero landlord responsibilities, offering significant long-term growth potential and passive income. The ground lease also expires January 31, 2035, and the ownership is fee simple (ground lease). The property's location within a dense retail trade area, combined with the strength of the CVS brand and the lease terms, makes this a compelling investment opportunity. The asking price is $4,400,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fredericksburg
- County
- Fredericksburg City
- State
- Virginia
- Longitude
- -77.4826
- Latitude
- 38.3007
