11127 Jefferson Ave - Freestanding FOR SALE


Newport News, VA 23601- Sedgefield
$7,116,000 USD
760-448-2449
11127 Jefferson Ave, Newport News, VA for Sale
$7,116,000 USD
Freestanding - FOR SALE
1/7
null | 8.5% Cap Rate

11127 Jefferson Ave
Newport News, VA 23601
Sedgefield


HIGHLIGHTS

  • CVS HEALTH CORP: INVESTMENT GRADE CREDIT TENANT (S&P: BBB+) • LARGEST PHARMACY IN THE U.S. • REVENUES OF $357.8 BILLION •
  • 10 YEARS REMAINING ON LEASE TERM • LONG-TERM PASSIVE INCOME STREAM • ABSOLUTE NNN LEASE
  • WITHIN 1 MILE OF MAJOR MEDICAL CENTERS • JUST 2 MILES FROM CHRISTOPHER NEWPORT UNIVERSITY • PROXIMITY TO LANGLEY AFB & NASA’S LANGLEY RESEARCH CENTER
  • HARD CORNER SIGNALIZED INTERSECTION OF JEFFERSON AVE & HARPERSVILLE RD (COMBINED 67,600+ CPD) • ACROSS FROM WALMART NEIGHBORHOOD MARKET
  • NEWPORT NEWS: A SUBURB OF NORFOLK, 2ND-MOST POPULOUS CITY IN VIRGINIA • SITE OF NAVAL STATION NORFOLK, WORLD’S LARGEST NAVAL INSTALLATION

OVERVIEW

The CVS Absolute Triple Net Lease (NNN) investment opportunity, offering investors a secure, passive income stream with zero management responsibilities. Nestled in the heart of Newport News, this CVS is strategically positioned in a high-traffic area, ensuring continuous visibility and foot traffic. Newport News is a dynamic city with a robust economy driven by a diverse range of sectors including maritime, defense, and technology. Located at the hard corner signalized intersection of Jefferson Ave & Harpersville Rd (67,600 cars per day), and across from a Walmart Neighborhood Market.

FOR SALE DETAILS

PRICE

$7,116,000 USD

PRICE/SF

$538 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

64

LAND DETAILS

LAND ACRES

2.33 AC

LAND SF

101,495 SF

ZONING

C-2

APN/PARCEL ID

240.00-04-10

ASK ABOUT THIS PROPERTY

Ryan BennettLee & AssociatesMore Info
760-448-2449

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Ryan BennettLee & AssociatesMore Info
760-448-2449

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.