Published on: Tuesday, September 10, 2024
Updated on: Tuesday, September 10, 2024
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About the Lister
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Name: Ryan Bennett
Company: NNN Investment Group
Office Phone: 760-448-2449
Cell Phone: 760-519-0240
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Financing  Business  Material
  CVS – Newport News
11127 Jefferson Ave Newport News Virginia , 23601
11127 Jefferson Ave Newport News Virginia                                                                                            , 23601 NNN Investment Group
Listing ID: CL-Virginia-11738

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 8.5
Net Operating Income: $604,836
Commission Split (%): 0
Quick Glance
Listing ID: CL-Virginia-11738
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: N/A
Year Build: 2009
Building Size: 13,225 SqFt
Lot Size: N/A
No of Stories: N/A
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: Yes
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Listing Summary
We are pleased to present an exceptional investment opportunity with this premier CVS location in Newport News, Virginia. This property stands out with its Absolute Triple Net Lease (NNN)
Complete Details
Year Build: 2009
Building Size: 13,225
No of Stories: N/A
Total Lot Area: N/A Acre
No of Parking: N/A
No of Total Units: N/A
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: B
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: Yes
Roofing: Not Specified
Occupancy: 0%
Full Description
This property stands out with its Absolute Triple Net Lease (NNN), offering investors a secure, passive income stream with minimal 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. Its prime location along the I-64 corridor enhances accessibility, making it a pivotal hub for both local residents and commuters. The property benefits from a thriving demographic profile with a population of over 180,000 within a 10-mile radius. This diverse and growing community has a strong consumer base, bolstered by nearby residential neighborhoods, schools, and commercial developments. Newport News is known for its commitment to growth and revitalization, further strengthening the area's appeal as a prime investment destination. This CVS location operates under an Absolute Triple Net Lease, providing investors with unparalleled peace of mind. The lease structure ensures that all property expenses, including real estate taxes, insurance, and maintenance costs, are fully covered by the tenant. This arrangement maximizes your return on investment and minimizes your involvement in day-to-day property management. This CVS investment property in Newport News presents a rare opportunity for investors seeking a high-quality asset in a flourishing market. With its prime location, stable tenant, and secure lease structure, this property promises to be a valuable addition to any investment portfolio. Don’t miss out on this chance to capitalize on a premier retail asset with long-term growth potential.
Additional Properties
Property Highlights
  • CVS Health Corp: Investment Grade Credit Tenant (S&P: BBB+) | Largest Pharmacy in the US | Revenues of $357.8 Billion | #6 on Fortune 500
  • 10 Years Remaining on Lease Term | Long-Term Passive Income Stream | Absolute NNN Lease
  • Real Estate Advantage | Hard Corner Signalized Intersection of Jefferson Ave & Harpersville Rd (Combined 67,6000+ CPD) | Across from WalMart Neighborhood Market | Strong Draw to Trade Area
  • Within 1 Mile of Major Medical Centers
Actual - Cash Flow
Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2024
$0
$0
$0
$604,836
$0
0%
Cash Flow for Current Listings
Listing Location
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