Skip to main content

Drug Store

CVS/pharmacy I Trophy NYC Location I 24-7 Store I Rare Rent Increase

777 S Oyster Bay Rd, Bethpage, NY 11714

Listing Price: $12,474,226

Cap Rate
4.85%
Tenant Name
CVS/pharmacy
Years Remaining On Lease
11.9
Guarantor
Corporate Guarantee
Rentable SF
14,500
Lease Type
NNN Ground Lease
Rent Per Square Feet
$41.72

Investment Overview

Coveted Absolute NNN CVS/pharmacy Located in Long Island at the Heavily Trafficked Signalized Intersection of South Oyster Bay Road (24,000 Vehicles Per Day) and Stewart Avenue (13,400 VPD). Subject Property Features a Material Competitive Advantage Over Competitors by Operating 24 Hours a Day and Has a Rare 10% Rent Increase in 2028 to Hedge Against Inflation. Positioned Within One of Bethpage’s Most Active Office Corridors with Surrounding Tenants Including the Internal Revenue Service, Bethpage Federal Credit Union’s Corporate HQ, and Northrop Grumman. Hyper-Secure Location Within the New York City Metropolitan Area, One of the Most Populous Urban Agglomerations in the World with Over 20 Million Residents. Lease Corporately Guaranteed by CVS Health, the 4th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over $268 Billion in Revenues in 2020.

Investment Highlights

  • Coveted Absolute NNN CVS/pharmacy Located in Long Island at the Heavily Trafficked Signalized Intersection of South Oyster Bay Road (24,000 Vehicles Per Day) and Stewart Avenue (13,400 VPD)
  • Subject Property Features a Material Competitive Advantage Over Competitors by Operating 24 Hours a Day and Has a Rare 10% Rent Increase in 2028 to Hedge Against Inflation
  • Lease Corporately Guaranteed by CVS Health, the 4th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over $268 Billion in Revenues in 2020
  • Positioned Within One of Bethpage's Most Active Office Corridors with Surrounding Tenants Including the Internal Revenue Service, Bethpage Federal Credit Union's Corporate HQ, and Northrop Grumman
  • Hyper-Secure Location Within the New York City Metropolitan Area, One of the Most Populous Urban Agglomerations in the World with Over 20 Million Residents
  • Situated in a Dense and Affluent Area with Over 331,000 People Living Within a 5-Mile Radius with an Average Annual Household Income Exceeding $158,000

Exclusively Listed By

Drug Store

CVS/pharmacy I Trophy NYC Location I 24-7 Store I Rare Rent Increase

Listing Price: $12,474,226

Cap Rate
4.85%
Tenant Name
CVS/pharmacy
Years Remaining On Lease
11.9
Guarantor
Corporate Guarantee
Rentable SF
14,500
Lease Type
NNN Ground Lease
Rent Per Square Feet
$41.72

Investment Highlights

  • Coveted Absolute NNN CVS/pharmacy Located in Long Island at the Heavily Trafficked Signalized Intersection of South Oyster Bay Road (24,000 Vehicles Per Day) and Stewart Avenue (13,400 VPD)
  • Subject Property Features a Material Competitive Advantage Over Competitors by Operating 24 Hours a Day and Has a Rare 10% Rent Increase in 2028 to Hedge Against Inflation
  • Lease Corporately Guaranteed by CVS Health, the 4th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over $268 Billion in Revenues in 2020
  • Positioned Within One of Bethpage's Most Active Office Corridors with Surrounding Tenants Including the Internal Revenue Service, Bethpage Federal Credit Union's Corporate HQ, and Northrop Grumman
  • Hyper-Secure Location Within the New York City Metropolitan Area, One of the Most Populous Urban Agglomerations in the World with Over 20 Million Residents
  • Situated in a Dense and Affluent Area with Over 331,000 People Living Within a 5-Mile Radius with an Average Annual Household Income Exceeding $158,000

Investment Overview

Coveted Absolute NNN CVS/pharmacy Located in Long Island at the Heavily Trafficked Signalized Intersection of South Oyster Bay Road (24,000 Vehicles Per Day) and Stewart Avenue (13,400 VPD). Subject Property Features a Material Competitive Advantage Over Competitors by Operating 24 Hours a Day and Has a Rare 10% Rent Increase in 2028 to Hedge Against Inflation. Positioned Within One of Bethpage’s Most Active Office Corridors with Surrounding Tenants Including the Internal Revenue Service, Bethpage Federal Credit Union’s Corporate HQ, and Northrop Grumman. Hyper-Secure Location Within the New York City Metropolitan Area, One of the Most Populous Urban Agglomerations in the World with Over 20 Million Residents. Lease Corporately Guaranteed by CVS Health, the 4th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over $268 Billion in Revenues in 2020.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower