• Immediate Residential Growth – The property is directly adjacent to the recently completed Smith Ridge Commons apartment community, a 216-unit multifamily development located immediately behind the CVS. The project began welcoming residents in 2026 and adds meaningful population density within walking distance of the property, supporting long-term demand for pharmacy, convenience, and daily-needs retail services.
• $75M+ Public Investment Nearby – Roanoke County is currently constructing the new Roanoke County Career and Technology Center on a 28-acre site along Peters Creek Road. The approximately $75.8 million project will include more than 123,000 square feet of educational and workforce training facilities and is expected to open in Fall 2026, further reinforcing the long-term growth and importance of the corridor.
• Recent Commercial Development – The surrounding Peters Creek Road corridor has attracted substantial recent investment from both national and regional operators, including Good Samaritan’s new $13 million Sheila S. Strauss Hospice House completed directly across the street from the property in 2024, the development of WoodSpring Suites Roanoke just a block away in 2023, and CarMax’s recent purchase, renovation and move-in to its Roanoke dealership located across the street from the property.
• Strategic Roanoke Location – The property is positioned at a signalized intersection along Peters Creek Road, one of the primary commercial thoroughfares serving northwest Roanoke, and benefits from strong traffic counts of approximately 28,100 vehicles per day. The location provides strong visibility, convenient access, and connectivity to Interstate 581, Interstate 81, and the broader Roanoke Valley.
• Large Underlying Parcel – The property is situated on approximately 2.28 acres with drive-thru infrastructure, multiple points of ingress/egress, and strong frontage along Peters Creek Road, providing investors with meaningful residual land value and long-term real estate optionality.
• Passive Absolute NNN Investment – The property operates as an absolute NNN investment, providing passive ownership with no landlord responsibilities and predictable income, making it ideal for 1031 exchange and passive net lease investors.
• Corporate Guarantee from CVS Health – The lease is corporately guaranteed by CVS Health (NYSE: CVS), one of the largest pharmacy and healthcare companies in the United States, providing investors with strong credit-backed income.