CVS

Investment Overview

Investment Highlights

• Drive-Through Equipped – Features a drive-through pharmacy, providing convenient prescription pickup and enhanced customer accessibility.
• Attractive 7.50% Cap Rate – Offered at $5,697,320, providing investors with a strong going-in yield from a nationally recognized pharmacy tenant.
• Double Net Lease – Minimal Landlord Responsibilities – Tenant is responsible for real estate taxes, insurance and CAM expenses, providing the landlord with a largely passive ownership structure and limited ongoing management obligations.
• CVS Corporate Guarantee – Lease is backed by CVS Caremark Corporation, providing investors with the strength and security of one of the nation’s largest integrated healthcare companies.
• Industry-Leading Healthcare Platform – CVS Health operates a diversified healthcare platform spanning CVS Pharmacy, CVS Caremark and Aetna, providing multiple business lines beyond traditional retail pharmacy.
• Dominant National Pharmacy Presence – CVS Pharmacy maintains an extensive nationwide retail footprint and is one of the most recognized pharmacy and healthcare brands in the United States.
• 8.5 Years of Remaining Lease Term – Long-term tenancy through January 31, 2035, followed by four additional five-year renewal options with 5% rent increases at each option renewal.
• Affluent North Shore / Boston MSA Location – Located in Salisbury, Essex County, within the desirable North Shore of the Boston metropolitan area, near Newburyport and the New Hampshire border.
• Exceptional Household Incomes – Average household incomes of approximately $122,147 within one mile, $149,909 within three miles and $146,232 within five miles, demonstrating the affluent demographics surrounding the property.
• Exceptional Household Incomes – Average household incomes of approximately $122,147 within one mile, $149,909 within three miles and $146,232 within five miles, demonstrating the affluent demographics surrounding the property.
• Strong Real Estate Fundamentals – 13,225 SF freestanding building situated on approximately 1.57 acres, providing substantial underlying real estate within a high-barrier-to-entry coastal Massachusetts market.