Property details
New Free Standing CVS Pharmacy, Northeast Region
Property Description
Free standing CVS Pharmacy. The store opened in November 2007 and is an outparcel to a Food Lion anchored center.
CVS Caremark's first-quarter profit jumps 83%
Annual Rent is $430,184.28, flat for 25 years. There are 4, 5 year options with increases above the base rent. CVS Pharmacy pays an additional $1,300 per month for CAM. Landlord is responsible for parking lot sweeping and landscaping. Also roof and structure. CVS pays pro-rata share for maintenance on the “L” shaped travel way through the overall center. Landlord pays Real Estate taxes and insurance and CVS reimburses. The full reimbursement took less than 30 days this past year.
Images
Highlights
- Status:
- Available
- Price:
- $6,774,551
- PSF:
- $461
- Cap Rate:
- 6.35%
- Annual Rent:
- $430,184
- Rent Increases:
- In options.
Property Information
- Building Size:
- 14,690 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Drug - Pharmacy
- Units/Spaces:
- 1
- Year Built:
- 2007
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- CVS Pharmacy
- Lease Type:
- NN
- Lease Commencement:
- 11/1/2007
- Lease Expiration:
- 11/1/2032
- Lease Term:
- 25 years
- Years Remaining:
- 22 years
- Landlord Responsibilities:
- Landlord is responsible for parking lot sweeping and landscaping. Also roof and structure. CVS pays pro-rata share for maintenance on the “L” shaped travelway through the overall center.
- Options:
- Four 5-year options with increases above the base rent.
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.