CVS

4261 E Little Creek Road, Norfolk, VA
Deal Type:
Net Lease
Price:
$3,743,296
Cap Rate:
6.40%
Current Rent:
$239,571
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 13.5 years
Renewal Options:
See OM
Building Sq. Ft.:
13,249 SF
Rent Increases:
Flat Through Main Term
Site Size:
1.16 Acres

Investment Highlights

  • Long Term Commitment: Absolute NNN Lease Structure with 13.5+ years remaining, no landlord responsibilities providing passive ownership
  • Location: Situated at Very Strong Signalized Intersection of Shore Drive and E. Little Creek Rd. ~ Shore Drive & E Little Creek Road both experience ~30,000 VPD
  • High Income Market: Extremely High Avg. Household Incomes in Immediate 1 Mile Radius – $116,000+
  • Long Term Investment Opportunity: 13.5+ Years of Uninterrupted Cash Flow
  • Military Training Base Exposure: Located Across the Street from Joint Expeditionary Base Little Creek – Major Operating / Training Base for U.S. Navy ~ Provides support services to over 15,000 personnel
  • Investment Grade Credit: The lease is guaranteed by CVS Health Corp. which has a credit rating of BBB/Stable with S&P

Listing Agents

phil digennaro stream capital partners

Phil DiGennaro

Managing Director
203 610 1541
[email protected]
John Woodcock Stream Capital Partners

John Woodcock

Vice President
503 853 6108
[email protected]

Taylor Trepinski

Vice President
786 684 1975
[email protected]

Broker of Record: Sasha Dominguez VA Lic#: 0225267271

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