7900 W Broad St - Drug Store FOR SALE


Richmond, VA 23294
$4,496,552 USD
513-300-0763
7900 W Broad St, Richmond, VA for Sale
$4,496,552 USD
Drug Store - FOR SALE
1/3
null | 7.25% Cap Rate

7900 W Broad St
Richmond, VA 23294


HIGHLIGHTS

  • In 2019, Walgreens renewed its first 5-yr option. In 2024, Walgreens restructured its lease early, extending the firm lease term to 2034.
  • Henrico Doctors' Hospital (340 Beds) and Parham Doctors' Hospital (200 Beds) are both within 2 miles of the property.
  • Within 3.5 miles there are currently over 350 new units under construction (The Commonwealth Building and West Chase Townhomes).
  • Situated at the signalized intersection of W Broad St and Hungary Spring Rd with a combined traffic count of 37,000 vehicles per day.
  • There is more than 4.8 million square feet of existing retail space within 2 miles of the property.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 7900 W Broad St, Richmond, VA 23294 ("The Property"). Walgreens has been operating at the site for 26 years and has over 9 years of firm term remaining before the 5 (5-year) option periods. Walgreens has been operating at this location since 1999, and in 2019, Walgreens renewed its first 5-year option. In 2024, Walgreens restructured its lease early, extending the firm lease term to 2034, demonstrating the tenant's long-term commitment to the location. Multiple major medical institutions, including Henrico Doctors’ Hospital and Parham Doctors’ Hospital, are located within 2 miles of the Property. With over 540 beds combined, these hospitals are key healthcare providers for the region, supporting consistent pharmacy demand and reinforcing Walgreens' strategic placement. The Property also benefits from ongoing residential development, with projects such as The Commonwealth Building and West Chase Townhomes bringing over 355 new residential units to the area. Strategically situated at the signalized intersection of West Broad Street and Hungary Spring Road, the Property benefits from excellent visibility and accessibility, with a combined traffic count exceeding 37,000 vehicles per day.

FOR SALE DETAILS

PRICE

$4,496,552 USD

PRICE/SF

$327 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Recent 10-Yr Ext | Close to 2 Major Hospitals

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,075 SF

ZONING

B-3

APN/PARCEL ID

764-751-8479

ASK ABOUT THIS PROPERTY

Brian BrockmanBang RealtyMore Info
513-300-0763

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Brian BrockmanBang RealtyMore Info
513-300-0763

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