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Drug Store

CVS Pharmacy | 10+ Years Remaining | Premier Beach Town Location

12001 Coastal Hwy, Ocean City, MD 21842

Listing Price: $8,352,000

Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
10,089
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.39

Investment Overview

CVS occupies a prominent 1.19-acre corner parcel at the intersection of Edward Taylor Road and Coastal Highway (27,470 VPD), the primary thoroughfare through Ocean City. CVS operates in a 10,089-square-foot store with two means of access, which includes a shared access point with the neighboring Wawa. It is located in front of and walkable to The Quarters at Marlin Cove and Club Ocean Villa condominiums, as well as multiple hotels on the opposite side of Coastal Highway. It is also adjacent to the high-performing Ocean City Square, anchored by Food Lion, which receives 1.3 million annual customer visits.

Investment Highlights

  • Established Location with 20-Year Operating History
  • Adjacent to High-Performing Wawa
  • Prominent Corner Parcel Along Coastal Highway with 27,470 VPD

Exclusively Listed By

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Drug Store

CVS Pharmacy | 10+ Years Remaining | Premier Beach Town Location

Listing Price: $8,352,000

Cap Rate
5.00%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
10,089
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.39

Investment Highlights

  • Established Location with 20-Year Operating History
  • Adjacent to High-Performing Wawa
  • Prominent Corner Parcel Along Coastal Highway with 27,470 VPD

Investment Overview

CVS occupies a prominent 1.19-acre corner parcel at the intersection of Edward Taylor Road and Coastal Highway (27,470 VPD), the primary thoroughfare through Ocean City. CVS operates in a 10,089-square-foot store with two means of access, which includes a shared access point with the neighboring Wawa. It is located in front of and walkable to The Quarters at Marlin Cove and Club Ocean Villa condominiums, as well as multiple hotels on the opposite side of Coastal Highway. It is also adjacent to the high-performing Ocean City Square, anchored by Food Lion, which receives 1.3 million annual customer visits.

Exclusively Listed By

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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