3298 Crater Rd Petersburg, VA 23805

This exceptional investment opportunity presents a fee-simple interest in a 14,820-square-foot Walgreens located at 3298 S Crater Rd, Petersburg, VA 23805. The property sits on a 1.68-acre lot and boasts an absolute NNN lease with zero landlord responsibilities, ensuring a passive investment experience. Built in 2005, the building is currently 100% occupied under a 25-year lease (originally commencing October 1, 2005, and expiring September 30, 2030), with a remaining term of six years and ten 5-year renewal options. The property generates a substantial net operating income (NOI) of $235,000, resulting in an attractive 8.00% cap rate. The asking price is $2,937,500. This prime retail location benefits from its proximity to a major 300-bed hospital and Fort Gregg-Adams (Fort Lee) U.S. Army Command Post, ensuring high traffic and strong demographics. The property's location within a primary retail and healthcare corridor in Petersburg, within the Richmond MSA, further enhances its investment appeal. The parcel's APN is 088-01-0814. This is a rare opportunity to acquire a below-market-rent, high-performing Walgreens in a desirable location.