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Views: 107 DOM: 165 Updated: 10.30.24 Posted: 07.09.24 Status: Active

Summary

Price $3,549,000
Built/Renov 1997/2004
Tenant CVS Pharmacy
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,125
Lease Start 02-24-1997
#Units 9,395
Price/SF $350.52
Expiration 07-31-2034
Tenant Type Pharmacy
NOI $230,701
R. Term 9.7
Ownership Fee Simple
Rent/SF $22.79
Increases 5.0%/9/yrs
Pop 5Mi 77,036
Lot/AC 4.82
Options 3/5yrs/5%
AHHI 5Mi $146,415

Lease Highlights

  • CVS has been operating in this location for over 25 years
  • The tenant has 9+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period

  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of Liberty Street and High Street, with access to a combined daily traffic count of 24,859 vehicles. The property offers multiple points of access and is surrounded by well-known national tenants including Dollar Tree, McDonald’s, and Dunkin’, alongside local businesses, medical offices, and stores within Shaw’s...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS Pharmacy
  • Guarantor:Corp T and Rated
  • Company:CVS Health Corporation
  • # Units:9,395
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: CVS

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,418 22,129 77,523
2024 Total Population : 2,437 22,238 77,535
2024 Employed Civilian Pop : 1,341 12,316 43,496
2024 Total Businesses : 77 623 2,515
2024 Average Household Income : $ 138,016 $ 167,496 $ 157,709
2024 Total Consumer Spending : $ 108 M $ 1152 M $ 3898 M
2024 Median Age : 46 43 43
2024 Total Households : 924 8,111 28,987
2024 Pop Age 25+: Bachelor's Degree : 397 4,133 14,509
2024 Average Home Value : $ 633,222 $ 676,673 $ 652,586
*ESRI data is presented for informational purposes only

Listing Broker

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