Cvs Alexandria Va No Renewal Options — Sale in Alexandria, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Alexandria, VA 22310

Investment Figures

Cap rate
5.94%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

CVS has operated at this location since 1998, marking more than 27 years of continuous occupancy. Upon running out of options, the tenant executed a 15-year term extension approximately three years ago. There were no concessions for the renewal, and the rental rate remained flat, underscoring the store’s success and long-term commitment to the site. While sales are not reported, Placer.ai data further supports this location’s strength, ranking the store in the 61st percentile nationally and showing a 21% increase in customer traffic over the past three years. Additionally, on page 6 there is a submarket pharmacy competition chart which ranks this unit as the highest traffic location (per Placer.Ai) in its trade area. In negotiations of the lease extension, ownership wisely elected not to grant CVS any renewal options beyond its new term. This is immensely rare and highly advantageous to the owner. It provides the landlord the ability to reset rents to market at lease expiration or pursue a redevelopment or alternative exit strategy at the conclusion of the term. It is notable that the adjacent building is for sale, and the aggregation of the two parcels would total 1.83 acres. This could be ideal for any number of high-paying users; especially convenience stores like Wawa. Investment Highlights: • 12+ YEARS OF TERM REMAINING ON "AT MARKET" RENTAL RATE LEASE • LACK OF TENANT RENEWAL OPTIONS PROVIDES SIGNIFICANT OPPORTUNITIES • HIGHLY DESIRED SIGNALIZED CORNER LOCATION WITH STRONG VISIBILITY AND ACCESS • INFILL, UPPER INCOME NORTHERN VIRGINIA LOCATION; WASHINGTON, DC MSA

Market Context

This retail in Alexandria, VA is listed for sale. It is offered at an approximate 5.9% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 100 days. Compare it against other retail listings for sale in Alexandria, VA — view the full market.

As of Q4 2025, the Washington D.C. retail market showed a 3.4% vacancy rate, average asking rents near $34.00/SF/yr, rents up 2.4% year over year, and cap rates around 6.8%.

Its 5.9% asking cap rate is below the Washington D.C. retail market average of about 6.8%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

What is the typical cap rate for retail in Washington D.C.?
About 6.8% as of Q4 2025.
Is the Washington D.C. retail market tightening or softening?
Vacancy is around 3.4%, with asking rents rising year over year (Q4 2025).

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