Log In/Sign Up
Your email has been sent.
7900 W Broad St
Richmond, VA 23294
Recent 10-Yr Ext | Close to 2 Major Hospitals · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- In 2019, Walgreens renewed its first 5-yr option. In 2024, Walgreens restructured its lease early, extending the firm lease term to 2034.
- Within 3.5 miles there are currently over 350 new units under construction (The Commonwealth Building and West Chase Townhomes).
- There is more than 4.8 million square feet of existing retail space within 2 miles of the property.
- Henrico Doctors' Hospital (340 Beds) and Parham Doctors' Hospital (200 Beds) are both within 2 miles of the property.
- Situated at the signalized intersection of W Broad St and Hungary Spring Rd with a combined traffic count of 37,000 vehicles per day.
EXECUTIVE SUMMARY
We are pleased to market for sale the Walgreens property located at 7900 W Broad St, Richmond, VA 23294 ("The Property"). Walgreens has been operating at the site for 26 years and has over 9 years of firm term remaining before the 5 (5-year) option periods.
Walgreens has been operating at this location since 1999, and in 2019, Walgreens renewed its first 5-year option. In 2024, Walgreens restructured its lease early, extending the firm lease term to 2034, demonstrating the tenant's long-term commitment to the location.
Multiple major medical institutions, including Henrico Doctors’ Hospital and Parham Doctors’ Hospital, are located within 2 miles of the Property. With over 540 beds combined, these hospitals are key healthcare providers for the region, supporting consistent pharmacy demand and reinforcing Walgreens' strategic placement.
The Property also benefits from ongoing residential development, with projects such as The Commonwealth Building and West Chase Townhomes bringing over 355 new residential units to the area. Strategically situated at the signalized intersection of West Broad Street and Hungary Spring Road, the Property benefits from excellent visibility and accessibility, with a combined traffic count exceeding 37,000 vehicles per day.
Walgreens has been operating at this location since 1999, and in 2019, Walgreens renewed its first 5-year option. In 2024, Walgreens restructured its lease early, extending the firm lease term to 2034, demonstrating the tenant's long-term commitment to the location.
Multiple major medical institutions, including Henrico Doctors’ Hospital and Parham Doctors’ Hospital, are located within 2 miles of the Property. With over 540 beds combined, these hospitals are key healthcare providers for the region, supporting consistent pharmacy demand and reinforcing Walgreens' strategic placement.
The Property also benefits from ongoing residential development, with projects such as The Commonwealth Building and West Chase Townhomes bringing over 355 new residential units to the area. Strategically situated at the signalized intersection of West Broad Street and Hungary Spring Road, the Property benefits from excellent visibility and accessibility, with a combined traffic count exceeding 37,000 vehicles per day.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
13,831 SF
Building Class
C
Year Built
1999
Price
$6,193,146 CAD
Price Per SF
$447.77 CAD
Cap Rate
7.25%
NOI
$449,003 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.45 AC
Zoning
B-3
Parking
58 Spaces (4.19 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 764-751-8479 | Improvements Assessment | $2,694,018 CAD |
| Land Assessment | $1,593,685 CAD | Total Assessment | $4,287,704 CAD |
PROPERTY TAXES
Parcel Number
764-751-8479
Land Assessment
$1,593,685 CAD
Improvements Assessment
$2,694,018 CAD
Total Assessment
$4,287,704 CAD
1 of 4
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
