Fredericksburg, VA - CVS Pharmacy (Dark)

Description:

SRS National Net Lease is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in a CVS property located in Fredericksburg, Virginia. The asset offers approximately 3 years of remaining lease term, providing stable near-term in-place income. The tenant is currently dark, creating a compelling value-add opportunity through future re-tenanting or redevelopment. The existing drive-thru infrastructure enhances flexibility for a wide range of users while reducing future redevelopment costs.

The property is strategically positioned at the signalized, hard-corner intersection of Courthouse Road (38,000 VPD) and Stoney Creek Drive (4,300 VPD), offering excellent visibility and access. Located just off Interstate 95 (119,000 VPD), the site benefits from strong regional connectivity along one of the East Coast’s primary north-south corridors. The asset is situated within a dense retail corridor, steps from national brands including Wawa, Big Lots, Starbucks, Little Caesars, and Popeyes. It is also in close proximity to major retail destinations such as Four Mile Fork Center (1.9M annual visits) and Cosner’s Corner (5.1M annual visits). Cosner’s Corner is a top-performing Target-anchored neighborhood center ranking in the 99th percentile nationally among comparable centers. This concentration of retailers drives consistent consumer traffic to the area and promotes cross-shopping at the subject property. The property is further supported by its proximity to the newly constructed Veterans Administration Fredericksburg Health Care Center, the nation’s largest VA outpatient clinic at approximately 470,000 square feet, which generates a significant daytime population and serves as a major traffic driver. Surrounding residential communities, including Abberly at Southpoint (280 units) and Vetra Southpoint (156 units), provide a direct consumer base. The 5-mile trade area includes more than 122,400 residents and 61,200 employees, with an average household income of $130,168, underscoring the area’s strong demographics and long-term retail demand fundamentals.

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Listing ID: a28TP000002M1ifYAC