Floyd, VA - CVS Pharmacy

709 E Main Street, Floyd, VA

$1,017,000

Price

7%

Cap Rate

$71,200

NOI

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Street
Map
Overview
Cap Rate
7%
NOI
$71,200
Building Size
7,700 sqft
Lot Area
0.54 acres
Occupancy
100%
Year Built
2017
Description

• The tenant signed a recent lease extension leaving them with 7+ years of term and 6 (3-year) options to extend
• The lease features 5% rental increases at the beginning of each option to extend, steadily growing the asset’s NOI and providing a hedge against inflation
• Tenant pays for CAM, taxes, insurance and maintains most aspects of the premises
• Landlord responsibilities limited to roof, structure, HVAC, and electrical systems
• Ideal, management-free investment for a passive investor

• The asset is strategically fronting East Main Street averaging 11,000 VPD
• 2017 remodel that feature high quality materials, distinct design elements, and high-level finishes
• The nearby retailers include Food Lion, Dollar General, NAPA Auto Parts, and more
• The site has excellent visibility via street frontage and multiple points of access
• The AHHI within a 10-mile radius of the subject property exceeds $71,505
• There are 3,675 daytime employees and a population of 12,031

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Listing ID: a28TP000000HC4nYAG
Location
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