November 15, 2022 – Zach Smith of Horvath & Tremblay has successfully completed the sale of a CVS in Richmond, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,152,605.
CVS is located at 7590 Staples Mill Road in Richmond, Virginia. The stand-alone building consists of 10,188 square feet on a 1.30-acre corner parcel of land. CVS has occupied this location since its construction in 1999 and has 5+ years remaining on their Absolute NNN Lease with nine (9), 5-year renewal options. The Property is extremely well located at the signalized intersection of Bremmer Road and Staples Mill Road (US Route 33), the area’s primary commercial and commuter corridor. CVS benefits from outstanding frontage, visibility and access and is across the street from the Richmond Staples Mill Train Station. Additionally, the adjacent parcel is scheduled to be developed to accommodate a Sheetz Convenience Store and Gas Station that will drive traffic to the area. The Property is also just 1.5-miles from Interstate 64.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.