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Drug Store

CVS Pharmacy

517 State Rd, Plymouth, MA 02360

Listing Price: $3,444,444

Cap Rate
4.50%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
11.1
Gross SF
10,608
Guarantor
Corporate Guarantee
Rentable SF
10,608
Price/Gross SF
$324.70
Lease Type
NNN Ground Lease
Rent Per Square Feet
$14.61

Investment Overview

The subject property is a CVS Pharmacy located on Route 3A in Plymouth, MA. The 10,608 square foot building sits on 1.62 acres of land with two means of ingress/egress. CVS signed a 25-year lease in 2008 and has 11 years remaining with six five-year options. CVS operates on an absolute NNN ground lease paying below market rent based on the building prototype and features a drive-thru. This CVS is the only drug store in a seven-mile radius and has extremely high barriers to entry. CVS is located on the corner of Route 3A (scenic roadway from Dorchester to Cape Cod) and Beaver Dam Road, which has combined traffic counts of 15,560 vehicles per day. Route 3 is located just four-and-a-half miles west of the property and has traffic counts exceeding 70,500 vehicles daily. The property is adjacent to Village Crossing, an 82-unit 55+ condominium community and just three-and-a-half miles from The Pinehills, a 3,000-acre village including three golf courses, The Village Green, Mirabeau Inn & Spa, Stonebridge Club, along with 10 miles of trails and a 77-acre pond for kayaking and fishing. Cape Cod is just over 11 miles south and Boston is 40 Miles north of CVS. The property boasts strong demographics as the average household income within a five-mile radius exceeds $135,000. Nearby retailers include 7-Eleven, Dollar Tree, Dunkin’, Rockland Trust Bank, Santander Bank, USPS, Aubuchon Hardware, Priscilla Beach Theatre, and more. Plymouth is located in Plymouth County on the South Shore and holds a place of great prominence in American history and is known as “America’s Hometown”. Plymouth was the site of the colony founded in 1620 by the Mayflower Pilgrims, where New England was first established. The town is still an active port, but today its major industry is tourism as it attracts over five million visitors annually contains the oldest continually operating museum in the United States. Plymouth is the largest municipality in Massachusetts by area and the largest in Southern New England.

Investment Highlights

  • 25-Year Lease | (6) Five-Year Options
  • Includes Drive-Thru | Extremely High Barriers to Entry
  • Hard Corner Location | Located on Route 3A

Exclusively Listed By

Drug Store

CVS Pharmacy

Listing Price: $3,444,444

Cap Rate
4.50%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
11.1
Gross SF
10,608
Guarantor
Corporate Guarantee
Rentable SF
10,608
Price/Gross SF
$324.70
Lease Type
NNN Ground Lease
Rent Per Square Feet
$14.61

Investment Highlights

  • 25-Year Lease | (6) Five-Year Options
  • Includes Drive-Thru | Extremely High Barriers to Entry
  • Hard Corner Location | Located on Route 3A

Investment Overview

The subject property is a CVS Pharmacy located on Route 3A in Plymouth, MA. The 10,608 square foot building sits on 1.62 acres of land with two means of ingress/egress. CVS signed a 25-year lease in 2008 and has 11 years remaining with six five-year options. CVS operates on an absolute NNN ground lease paying below market rent based on the building prototype and features a drive-thru. This CVS is the only drug store in a seven-mile radius and has extremely high barriers to entry. CVS is located on the corner of Route 3A (scenic roadway from Dorchester to Cape Cod) and Beaver Dam Road, which has combined traffic counts of 15,560 vehicles per day. Route 3 is located just four-and-a-half miles west of the property and has traffic counts exceeding 70,500 vehicles daily. The property is adjacent to Village Crossing, an 82-unit 55+ condominium community and just three-and-a-half miles from The Pinehills, a 3,000-acre village including three golf courses, The Village Green, Mirabeau Inn & Spa, Stonebridge Club, along with 10 miles of trails and a 77-acre pond for kayaking and fishing. Cape Cod is just over 11 miles south and Boston is 40 Miles north of CVS. The property boasts strong demographics as the average household income within a five-mile radius exceeds $135,000. Nearby retailers include 7-Eleven, Dollar Tree, Dunkin’, Rockland Trust Bank, Santander Bank, USPS, Aubuchon Hardware, Priscilla Beach Theatre, and more. Plymouth is located in Plymouth County on the South Shore and holds a place of great prominence in American history and is known as “America’s Hometown”. Plymouth was the site of the colony founded in 1620 by the Mayflower Pilgrims, where New England was first established. The town is still an active port, but today its major industry is tourism as it attracts over five million visitors annually contains the oldest continually operating museum in the United States. Plymouth is the largest municipality in Massachusetts by area and the largest in Southern New England.

Exclusively Listed By

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