Available $4,807,508 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NET LEASE STRUCTURE
Zero landlord responsibilities for operating or capital expenses
- CORPORATE BACKED LONG TERM LEASE
CVS signed a 25 year lease in 2006 leaving approximately 13 years remaining on the initial lease term
- BBB CREDIT RATING BY STANDARD & POOR’S
Tenant is publicly traded on the NYSE and reported annual revenues in excess of $184 billion in 2017
- ADJACENT TO SUNSET CROSSINGS
74,000 square foot retail center anchored by Giant Supermarket
- HARD CORNER LOCATION WITH DRIVE-THRU
Excellent along main traffic corridor (11,000 vpd)
- DENSELY POPULATED AREA
Over 74,000 residents within a three mile radius
THE SUBJECT PROPERTY IS A 10,274 SQUARE FOOT CVS LOCATED IN DICKSON CITY, PENNSYLVANIA. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2006, LEAVING APPROXIMATELY 13 YEARS REMAINING ON THE TENANT’S INITIAL LEASE TERM.
The lease is absolute net providing for zero landlord responsibilities. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB+ credit rating by Standard & Poor’s and reported annual revenues in excess of $184 billion in 2017.
Located at the intersection of Main Street and Sunset Drive, the subject property is positioned adjacent to Sunset Crossings, a 74,000 square foot retail center anchored by Giant Supermarket. Other retailers in the immediate area include Dunkin Donuts, Dollar Tree, UPS, Napa Auto Parts, AutoZone and many more. CVS features excellent exposure along one of the area’s main traffic thoroughfares with daily traffic counts in excess of 11,000 vehicles. This densely populated area is home to over 74,000 residents within a three mile radius of the subject property.
- Price: $4,807,508
- Cap Rate: 6.48%
- Lease Term: 13 Years Remaining
- Year Built: 2006
- Building Size: 10,274 SF
- Lot Size: 1.53 Acres
- Status: Available