CVS Pharmacy
Ridgewood, New York
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NNN Pro Group is pleased to present the exclusive listing for a CVS Pharmacy located at 61-15 Metropolitan Avenue in Ridgewood (Queens), New York. The site, constructed in 1951 and renovated in 2012, consists of roughly 13,482 rentable square feet of building space on estimated 1.38-acre parcel of land. This CVS Pharmacy is subject to a 25-year double-net (NN) lease, which commenced on June 1, 2012. There are approximately 13 years remaining The annual rent is $1,029,291 and is subject to 10% rental increases every five years. There are four (4) five (5)-year tenant renewal options, extending the total possible lease term to 45 years.
✓ 13+ Years Remaining on an Original 25-Year Double-Net (NN) Lease
✓ 10% Increases Every Five Years
✓ Four (4), Five (5) Year Tenant Renewal Options
✓ Corporate Guarantee from CVS Health Corporation (NYSE: CVS) – S&P: BBB
✓ Positioned on an Oversized 1.38 Acre Lot
✓ Ranked in the Top 98% of all CVS Nationwide According to Placer.AI*
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