1511 Emancipation HwyFredericksburg, VA 22401

Property Details for 1511 Emancipation Hwy

Year built

2014

Lot size

2.54 AC

Property size (Sq ft)

13,291 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

Exceptional investment opportunity: a 13,291 square foot CVS Pharmacy in Fredericksburg, VA, boasting a 6.25% cap rate and $275,000 NOI. This absolute NNN net lease features a credit-rated corporate guarantee from CVS, providing significant security. The property enjoys a prime location at a signalized intersection with high visibility and traffic counts (51,000 VPD combined, plus I-95 access). Built in 2014, the property sits on a 2.54-acre lot and includes a drive-thru. The lease, commencing July 18, 2014, and expiring January 31, 2035, has over 10 years remaining, with ten 5-year renewal options at 10% rent bumps each. The property benefits from a strong demographic profile, with affluent residents and proximity to major shopping centers, Mary Washington Hospital, and the University of Mary Washington. This is a management-free investment with zero landlord responsibilities, offering significant long-term growth potential and passive income. The ground lease also expires January 31, 2035, and the ownership is fee simple (ground lease). The property's location within a dense retail trade area, combined with the strength of the CVS brand and the lease terms, makes this a compelling investment opportunity. The asking price is $4,400,000.

Location Insight

City

Fredericksburg

County

Fredericksburg City

State

Virginia

Latitude

38.3007

Longitude

-77.4826

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