11127 Jefferson Ave Newport News, VA 23601

This exceptional investment opportunity features a 13,225 square foot CVS Pharmacy in Newport News, Virginia, situated on a 2.33-acre lot at 11127 Jefferson Ave, zip code 23601. The property boasts a Class A, absolute NNN lease with a credit-rated corporate guarantor (CVS Health Corp), offering a secure, passive income stream. The lease commenced September 30, 2009, and has a remaining term of 9.9 years, with ten 5-year renewal options extending to October 31, 2034. The current asking price is $7,116,000, representing a price per square foot of $538 and an 8.50% cap rate based on a net operating income (NOI) of $604,836. Built in 2009, this single-building property enjoys 100% occupancy and benefits from rent bumps. The strategic location at a hard corner signalized intersection, across from a Walmart Neighborhood Market and near major medical centers, ensures high visibility and strong foot traffic. This fee-simple ownership presents a compelling opportunity for 1031 exchange investors seeking a stable, long-term investment with significant upside potential in a thriving market. The property's strong demographics, within a 10-mile radius of over 180,000 residents, further enhance its investment appeal. All property expenses, including real estate taxes, insurance, and maintenance, are the tenant's responsibility.