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CVS Pharmacy (GL)

181 Silver Street, Unit 2A, Dover, NH 03820

$4,400,000

Cap Rate 5.00%

Views: 61 DOM: 65 Updated: 10.18.24 Posted: 10.18.24 Status: Active

Summary

Price $4,400,000
Built/Renov 2021
Tenant CVS Pharmacy (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,698
Lease Start 04-26-2021
#Units 9,395
Price/SF $299.36
Expiration 01-31-2042
Tenant Type Pharmacy
NOI $220,000
R. Term 17.1
Ownership Ground Lease
Rent/SF $14.97
Increases 10.0%/2/yrs
Pop 5Mi 64,251
Lot/AC 1.53
Options 5/5yrs/10%
AHHI 5Mi $122,773

Bob Horvath
Horvath & Tremblay: MA
Contact

Aaron Huntley
Horvath & Tremblay: MA
Contact

Todd Tremblay
Horvath & Tremblay: MA
Contact

Lease Highlights

  • CVS Pharmacy has 17+ years remaining on the current ground lease term with 5 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the rotary intersection of Silver Street, Knox Marsh Road, and the Spaulding Turnpike on-ramp, with access to a combined daily traffic count of 15,400 vehicles. It is adjacent to and clearly visible from the Spaulding Turnpike, which sees 49,500 VPD and features a prominent Pylon Sign. Situated within Silver Square, a five-unit mixed-use condominium...

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Key Features

  • New construction

  • Near major nationals

  • Freeway close

  • Income tax free state

  • Long 15+ yr lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Dover, New Hampshire Zip Code 03820 Broker Site Page

Documents

Download OM

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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Listing Broker

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