CVS Pharmacy - Harrisonburg, VA
Retail | 5.85% CAP | 10,336 SqFt
Marketing description
STRONG PLACER.AI DATA, STRONG REPORTED SALES
3.5+ Years Remaining | 27+ Year Operating History | Established Brand | Options to Extend
• CVS has operated at this location for 27 years and has 3.5+ years remaining on their lease
• The lease features 2 (5-year) option periods to extend, with rental increases of 3% at the beginning of each option period
• CVS Pharmacy, the retail division of CVS Health (NYSE: CVS), is America’s leading retail pharmacy with 9,165 retail locations, more than 900 walk-in medical clinics, more than 225 primary care medical clinics
NN | Fee Simple Ownership | Limited Landlord Responsibilities
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Landlord responsibilities limited to roof, structure, foundation, and plumbing
• Ideal, low-management investment for a passive investor
Signalized, Hard Corner Intersection | Interstate 81 | Adjacent to Cloverleaf Shopping Center | Dense Retail Corridor | James Madison University (22,760 students)
• CVS is located at the signalized, hard corner intersection of MLK Jr Way and Reservoir St averaging 22,400 VPD
• The site benefits from nearby direct on/off ramp access to Interstate 81, a major thoroughfare that averages 57,000 vehicles passing by daily
• Directly adjacent to Cloverleaf Shopping center, that is anchored by Food Lion, Aaron’s, Big Lots, and more
• The asset is situated in a dense retail corridor, with numerous nearby national/credit tenants including Walmart Supercenter, Aldi, Target, Lowe’s, Home Depot, Kohls, and many more
• 1.0 miles away from James Madison University (22,760-students)
Strong Demographics in 5-Mile Trade Area | Direct Consumer Base
• The 5-mile subject trade area is supported by more than 73,000 residents and 51,000 daytime employees
• Residents have an average household income of $87,556
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