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CVS

Seekonk, Massachusetts

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Marcus & Millichap is pleased to present the exclusive listing for a CVS Pharmacy at 1479 Newman Avenue in Seekonk, Massachusetts. The site consists of roughly 12,900 rentable square feet of building space. This CVS is subject to a 25-year absolute triple-net (NNN) lease, which commenced May 1st, 2014. The current annual rent is $550,000 and is scheduled to increase by 10% in the first option and 5% throughout the 5 other, 5-year renewal options.

About the Investment
✓ Absolute Triple-Net (NNN) Offering of a CVS with a Drive Through
✓ Strong Credit Backing of Corporate CVS
✓ Investment Grade Credit Rating!
✓ Essential Business | Long Term Tenancy | Recession Proof Business
✓ High Performing Site | This Location is in the Top 71% of All CVS Sites
Nationwide!
✓ Prototype CVS was Built in 2014 | 16+ Years of NNN Term Remaining!
✓ Site Operated Inline Next to Stop & Shop Before Relocating to
a Larger Format Store Complete with a Drive Through
✓ CVS is the Dominant Pharmacy in the Northeast as well as within the
Local Seekonk Market | Site is Only 16 Miles from CVS HQ!

Key Details

Price:
$11,000,000
Cap Rate:
5.00%
Annual Rent:
$550,000
Address:
1479 Newman Avenue, Seekonk, Massachusetts 02771
Property Type:
Drug Store & Grocery
Lease Type:
Absolute NNN

Lease Commencement:
May 1, 2014
Lease Expiration:
April 30, 2039
Lease Term Remaining:
16+ Years
Rental Increases:
In Option Periods
Building Size:
12,900 SF
Tenant:
CVS

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Anthony D’Ambrosia

License: 10401294012

Josh Kanter

License: 10401294056

Broker of record

Thomas Shihadeh

License: 1000485


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