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Drug Store

CVS Pharmacy 9+ Years Remaining | 10% Rent Increase in Final Option

7720 Bustleton Ave, Philadelphia, PA 19152

Listing Price: $7,806,476

Cap Rate
5.25%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
9.3
Guarantor
Corporate Guarantee
Rentable SF
10,880
Lease Type
Double Net
Rent Per Square Feet
$37.67

Investment Overview

CVS/Pharmacy has more than nine years remaining on a corporate NN lease, guaranteed by CVS Health Corporation. The lease features an attractive 10 percent (10%) rental increase in its one, four-year option term. The Tenant has operated here successfully since 2006. In fact, geofencing data from Placer.ai ranks it 144th out of 381 locations in the state of Pennsylvania, with over 154,700 visits annually, proving the site’s strong performance. In future years, the 37th percentile Placer.ai ranking coupled with a single option with a 10 percent rent increase will provide the new owner leverage in an extension negotiation.

Investment Highlights

  • Established Store with High Placer. ai Ranking
  • Ten Percent Rental Increase in the Single, Four-Year Option Remaining
  • Highly Dense Northeast Philadelphia

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Drug Store

CVS Pharmacy 9+ Years Remaining | 10% Rent Increase in Final Option

Listing Price: $7,806,476

Cap Rate
5.25%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
9.3
Guarantor
Corporate Guarantee
Rentable SF
10,880
Lease Type
Double Net
Rent Per Square Feet
$37.67

Investment Highlights

  • Established Store with High Placer. ai Ranking
  • Ten Percent Rental Increase in the Single, Four-Year Option Remaining
  • Highly Dense Northeast Philadelphia

Investment Overview

CVS/Pharmacy has more than nine years remaining on a corporate NN lease, guaranteed by CVS Health Corporation. The lease features an attractive 10 percent (10%) rental increase in its one, four-year option term. The Tenant has operated here successfully since 2006. In fact, geofencing data from Placer.ai ranks it 144th out of 381 locations in the state of Pennsylvania, with over 154,700 visits annually, proving the site’s strong performance. In future years, the 37th percentile Placer.ai ranking coupled with a single option with a 10 percent rent increase will provide the new owner leverage in an extension negotiation.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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