CVS 700 Merrimac Trl 9,963 SF Retail Building Williamsburg, VA 23185 $3,398,007 CAD ($341.06 CAD/SF) 7.40% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS positioned within the Virginia Beach MSA in Williamsburg, Virginia. CVS has successfully operated from this location since 1998 with multiple lease renewals, demonstrating commitment to the site. The current term runs through January 2029 and contains four 5-year options remaining. CVS is an investment grade tenant with a “BBB” rating from Standard & Poor’s.
The 9,963 square-foot building benefits from its shadow anchor position across from James-York Plaza which is occupied by Food Lion, Rent-A-Center, Subway, Dollar Tree, and Metro by T-Mobile. The property is located along Merrimac Trail which experiences 14,000 vehicles per day and is within proximity to Interstate 64 (70,000 VPD). The surrounding community, within a five-mile radius, is affluent, boasting an average household income exceeding $131,000 and a population of 55,000. The property is just minutes from two significant regional draws: William and Mary College, with over 9,700 students, and Yorktown Naval Weapons Station, a key U.S. Navy hub on the East Coast. Additional nearby attractions include Golden Horseshoe Golf Club, Wawa, 7-Eleven, O’Reilly Auto Parts, AutoZone, Chevrolet, Cadillac, McDonald’s, NTB, and other prominent businesses.
CVS Health Corporation, founded in 1963 as Consumer Value Stores and headquartered in Woonsocket, Rhode Island, is a leading health solutions company in the United States, operating over 9,000 retail pharmacies, more than 1,000 MinuteClinic locations, and comprehensive health insurance through Aetna, acquired in 2018. With a mission to enhance healthcare access, lower costs, and provide personalized care, CVS Health serves approximately 27.1 million medical members and processes over 464 million pharmacy claims annually through its CVS Caremark pharmacy benefit manager.