700 Merrimac Trl - Drug Store FOR SALE


Williamsburg, VA 23185
$2,485,649 USD
847-562-0003
700 Merrimac Trl, Williamsburg, VA for Sale
$2,485,649 USD
Drug Store - FOR SALE
1/6
null | 7.4% Cap Rate

700 Merrimac Trl
Williamsburg, VA 23185


HIGHLIGHTS

  • Positioned within the Virginia Beach MSA
  • Successful operating history since 1998
  • CVS executed multiple options demonstrating commitment (Most recently in 2022)
  • Located along Merrimac Trail (14,000 VPD) & within proximity to Interstate 64 (70,000 VPD)
  • Shadow anchor to James-York Plaza (Food Lion, Rent-A-Center, Subway, Dollar Tree, Metro by T-Mobile)
  • Affluent community - $131,000+ average household income within five miles

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS positioned within the Virginia Beach MSA in Williamsburg, Virginia. CVS has successfully operated from this location since 1998 with multiple lease renewals, demonstrating commitment to the site. The current term runs through January 2029 and contains four 5-year options remaining. CVS is an investment grade tenant with a “BBB” rating from Standard & Poor’s. The 9,963 square-foot building benefits from its shadow anchor position across from James-York Plaza which is occupied by Food Lion, Rent-A-Center, Subway, Dollar Tree, and Metro by T-Mobile. The property is located along Merrimac Trail which experiences 14,000 vehicles per day and is within proximity to Interstate 64 (70,000 VPD). The surrounding community, within a five-mile radius, is affluent, boasting an average household income exceeding $131,000 and a population of 55,000. The property is just minutes from two significant regional draws: William and Mary College, with over 9,700 students, and Yorktown Naval Weapons Station, a key U.S. Navy hub on the East Coast. Additional nearby attractions include Golden Horseshoe Golf Club, Wawa, 7-Eleven, O’Reilly Auto Parts, AutoZone, Chevrolet, Cadillac, McDonald’s, NTB, and other prominent businesses. CVS Health Corporation, founded in 1963 as Consumer Value Stores and headquartered in Woonsocket, Rhode Island, is a leading health solutions company in the United States, operating over 9,000 retail pharmacies, more than 1,000 MinuteClinic locations, and comprehensive health insurance through Aetna, acquired in 2018. With a mission to enhance healthcare access, lower costs, and provide personalized care, CVS Health serves approximately 27.1 million medical members and processes over 464 million pharmacy claims annually through its CVS Caremark pharmacy benefit manager.

FOR SALE DETAILS

PRICE

$2,485,649 USD

PRICE/SF

$245 USD /SF

CAP RATE

7.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

CROSS STREETS

Penniman Road

LAND ACRES

2.62 AC

LAND SF

114,127 SF

ZONING

0

APN/PARCEL ID

F14D-3158-1295

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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