Harrisonburg Retail for Sale - Old Town Harrisonburg
• CVS has operated at this location for 27 years and has 3.5+ years remaining on their lease
• The lease features 2 (5-year) option periods to extend, with rental increases of 3% at the beginning of each option period
• CVS Pharmacy, the retail division of CVS Health (NYSE: CVS), is America’s leading retail pharmacy with 9,165 retail locations, more than 900 walk-in medical clinics, more than 225 primary care medical clinics
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Landlord responsibilities limited to roof, structure, foundation, and plumbing
• Ideal, low-management investment for a passive investor
• CVS is located at the signalized, hard corner intersection of MLK Jr Way and Reservoir St averaging 22,400 VPD
• The site benefits from nearby direct on/off ramp access to Interstate 81, a major thoroughfare that averages 57,000 vehicles passing by daily
• Directly adjacent to Cloverleaf Shopping center, that is anchored by Food Lion, Aaron’s, Big Lots, and more
• The asset is situated in a dense retail corridor, with numerous nearby national/credit tenants including Walmart Supercenter, Aldi, Target, Lowe’s, Home Depot, Kohls, and many more
• 1.0 miles away from James Madison University (22,760-students)
• The 5-mile subject trade area is supported by more than 73,000 residents and 51,000 daytime employees
• Residents have an average household income of $87,556
