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Drug Store

CVS | Relocation Store | 16+ Year NNN Term | No Rent Holiday

1479 Newman Ave, Seekonk, MA 02771

Listing Price: $11,000,000

Cap Rate
5.00%
Tenant Name
CVS
Years Remaining On Lease
16.3
Guarantor
Corporate Guarantee
Rentable SF
12,900
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.64

Investment Overview

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.

Investment Highlights

  • 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

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s) MA: 1000485

    Massachusetts

Drug Store

CVS | Relocation Store | 16+ Year NNN Term | No Rent Holiday

Listing Price: $11,000,000

Cap Rate
5.00%
Tenant Name
CVS
Years Remaining On Lease
16.3
Guarantor
Corporate Guarantee
Rentable SF
12,900
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.64

Investment Highlights

  • 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

Investment Overview

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.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s): MA: 1000485

    Massachusetts

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