31 W Main St - Drug Store FOR SALE


Radford, VA 24141
$2,000,000 USD
215-531-7026
31 W Main St, Radford, VA for Sale
$2,000,000 USD
Drug Store - FOR SALE
1/7
null | 6.25% Cap Rate

31 W Main St
Radford, VA 24141


HIGHLIGHTS

  • CVS Health is a BBB-rated, publicly traded company with over 9,000 locations and $372.8B in 2024 revenue.
  • CVS has operated at this location since 2008 (17 years) under a 25- year NNN ground lease guaranteed by corporate.
  • Located at a signalized intersection along West Main Street seeing over 18,000 vehicles daily, the property boasts excellent exposure.
  • Only pharmacy in the Radford MSA, serving 24,000+ residents with no direct competition. Positioned along Lee Highway (26K VPD) at the bridge entry.
  • Situated on 1.9 acres, this property features an 11,970 SF building with Drive Thru and nearly 70 parking spaces.

OVERVIEW

Positioned at the gateway to Radford’s commercial corridor, the CVS at 31 W Main Street presents a rare opportunity to acquire a high-performing, single-tenant net lease asset with strong fundamentals and long-term stability. The property spans 1.9 acres and features a freestanding 11,970 SF retail building with a drive-thru and 69 dedicated parking spaces. CVS has operated at this location since 2008 under a 25-year NNN ground lease guaranteed by corporate, with six 5-year renewal options extending through 2063. The lease structure is absolute NNN, with the tenant responsible for taxes, insurance, CAM, roof, and structure—offering zero landlord responsibilities. Strategically located at a signalized intersection along West Main Street with over 18,000 vehicles per day, the site benefits from dual access points and exceptional visibility. It is the only pharmacy in the Radford MSA, serving over 24,000 residents with no direct competition. The property is surrounded by major retailers and educational institutions, including Radford University (9,400+ students), Radford High School, and multiple elementary and intermediate schools, creating consistent foot traffic and built-in demand. CVS is currently paying below-market rent at $10.44/SF, compared to the area’s market rate of $22/SF, providing future upside potential. With a corporate guarantee from CVS Health—a BBB-rated, publicly traded company with over 9,000 locations and $372.8B in 2024 revenue—this asset offers a secure and predictable income stream in a growing college town market.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$167 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

69

LAND DETAILS

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

C

APN/PARCEL ID

9-2-SEC-3-1-2-3-4

ASK ABOUT THIS PROPERTY

Derrick DoughertyDougherty And Partners of Marcus & MillichapMore Info
215-531-7026

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Derrick DoughertyDougherty And Partners of Marcus & MillichapMore Info
215-531-7026

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