CVS

109 Terry Road, Smithtown, NY 11787

$4,800,000

Cap Rate 5.11%

Views: 136 DOM: 445 Updated: 09.10.24 Posted: 06.29.23 Status: Active

Summary

Price $4,800,000	Built/Renov 1997	Tenant CVS
Cap Rate 5.11%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 10,125	Lease Start 07-17-1997	#Units 9,900
Price/SF $474.07	Expiration 01-31-2029	Tenant Type Pharmacy
NOI $245,469	R. Term 4.4	Ownership Fee Simple
Rent/SF $24.24	Increases 8.0%/1/yrs	Pop 5Mi 199,911
Lot/AC 1.40	Options 2/5yrs/8%	AHHI 5Mi $108,289

Brandon Hanna

ENCORE Real Estate Investment Services

Contact

Lease Highlights

CVS has a 25+ year operating history at this location
Prototypical free-standing building with drive-thru
The tenant has 5+ years remaining on its current lease term with 2 (5-year) options to extend
The lease features 8% rental increases every 5 years throughout initial term and option periods
Corporate guaranteed lease
CVS is an investment grade tenant (S&P: BBB)

Location Description

CVS is strategically located along Terry Road which sees over 14,600 vehicles passing by daily. The subject property is directly off Smithtown Bypass (52,000 VPD) and near several national/credit tenants including Chase Bank, 7-Eleven, Walgreens, Dunkin’ Donuts, Taco Bell and more. The 5-mile trade area is supported by a dense population of more than 199,000 residents earning an affluent...

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Key Features

In location for years
High traffic 50M+ VPD
Strategically located
Dense 200M+ pop 5 mi
Affluent AHHI $100K 5 Mi
Long operation history
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

CVS Wikipedia CVS Wikipedia Smithtown, New York Zip Code 11787 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CVS
Guarantor:Corp T and Rated
Company:CVS Corporation
# Units:9,900
Tenant S&P: BBB
Moody’s: Baa1
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
2028 Total Population :	8,966	73,774	208,501
2023 Total Population :	9,101	74,534	209,330
2023 Employed Civilian Pop :	4,749	38,008	106,538
2023 Total Businesses :	788	3,460	9,347
2023 Average Household Income :	$ 186,527	$ 181,338	$ 168,679
2023 Total Consumer Spending :	$ 490 M	$ 3952 M	$ 9588 M
2023 Median Age :	46	45	41
2023 Total Households :	3,153	26,123	68,008
2023 Pop Age 25+: Bachelor's Degree :	1,757	15,101	35,411
2023 Average Home Value :	$ 605,662	$ 610,007	$ 584,582

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Terry Rd	Larsen Ave	2017	9,478	0.06 mi
Terry Road	Elizabeth Ave	2021	9,327	0.08 mi
Smithtown Byp	Hallock Ave	2014	52,374	0.22 mi
Terry Rd	John Jones Ln	2014	10,100	0.28 mi
	Fairview St	2021	60	0.31 mi
Middle Country Road	Fifty Acre Rd S	2021	18,069	0.39 mi
Highway Pl	Smithtown Byp	2014	43,541	0.48 mi
Smithtown Byp	Helen Ave	2010	52,776	0.65 mi
Southern Boulevard	Neslo Dr	2021	4,145	0.72 mi
	Smithtown Blvd	2021	117	0.74 mi

Listing Broker

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