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4261 E Little Creek Rd
Norfolk, VA 23518
CVS · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute NNN lease with 12 years remaining
- Prime signalized intersection with 30,000 VPD
- Across from major U.S. Navy base serving 15,000 personnel
- Guaranteed by CVS Health Corp (BBB/Stable)
- High-income trade area with $116K+ household incomes
EXECUTIVE SUMMARY
Positioned at one of Norfolk’s most prominent intersections, this CVS-occupied property offers investors a rare opportunity to secure a long-term, passive income stream backed by investment-grade credit. The 13,249 SF free-standing building sits on 1.16 acres and benefits from exceptional visibility and traffic counts of approximately 30,000 vehicles per day. With an absolute NNN lease structure and 12 years remaining, ownership is truly hands-off, delivering predictable cash flow at a competitive 7.5% cap rate. The surrounding area features affluent demographics, with average household incomes exceeding $116,000 within a one-mile radius, and is anchored by the Joint Expeditionary Base Little Creek, a major U.S. Navy installation supporting over 15,000 personnel. This strategic location, combined with the strength of CVS Health Corp’s BBB/Stable credit rating, makes this asset an ideal choice for investors seeking stability and long-term growth in a thriving coastal market.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,249 SF
Building Class
B
Year Built
2011
Cap Rate
7.50%
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
1.16 AC
Zoning
C - Commercial
Parking
50 Spaces (3.77 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 00809856 | Improvements Assessment | $2,908,212 CAD |
| Land Assessment | $1,338,334 CAD | Total Assessment | $4,246,546 CAD |
PROPERTY TAXES
Parcel Number
00809856
Land Assessment
$1,338,334 CAD
Improvements Assessment
$2,908,212 CAD
Total Assessment
$4,246,546 CAD
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