A CVS-anchored retail plaza at 264 Trapelo Road in Belmont has been acquired by Boston-based Copley Investments by $14 million.

The property contains a 14,195-square-foot CVS store and 5,300 square feet leased to Mount Auburn Hospital. The transaction also included an adjacent two-family residential building.

Newmark Grubb Knight Frank’s Robert Griffin, Geoffrey Millerd, Justin Smith and Paul Penman brokered the sale on behalf of Belmont-based K&R Realty Trust.

“As Trapelo Road undergoes its current transformation into a walkable, pedestrian-friendly thoroughfare, the property that was once home to the Kendall family’s Volkswagen dealership is still one of the most desirable pieces of real estate along the corridor,” Smith said in a statement.

The property benefits from Trapelo Road’s 15,200-vehicle daily traffic counts and a population of 633,700 within a surrounding 5-mile radius with a median household income of $113,000, according to NGKF.