Drug Store
CVS Pharmacy
500 Washington St, Weymouth, MA 02188
Listing Price: $12,917,710
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for the CVS pharmacy located at 500 Washington St, Weymouth, MA 02188. The property consists of roughly 12,125 rentable square feet of building space on an estimated 3.20-acre parcel of land with a drive thru. This has been a CVS since 2000 when it was originally constructed. The tenant is subject to a 23-year triple net ground lease that is scheduled to expire on January 31, 2023. The tenant recently notified the landlord that they exercised their first option period. The rent will be $678,180 effective February 1, 2023, and will continue to increase by 3% every 5 years throughout the remaining six, five-year tenant renewal options.
Listing Price: $12,917,710
Investment Highlights
- CVS Recently Exercised Their First of Seven, Five Year Tenant Renewal Options
- CVS Corporate Guaranty | Investment Grade Credit | "BBB" S&P Credit Rating
- Three Percent Rent Increases at the Start of Each of the Remaining Six, Five-Year Tenant Renewal Options
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for the CVS pharmacy located at 500 Washington St, Weymouth, MA 02188. The property consists of roughly 12,125 rentable square feet of building space on an estimated 3.20-acre parcel of land with a drive thru. This has been a CVS since 2000 when it was originally constructed. The tenant is subject to a 23-year triple net ground lease that is scheduled to expire on January 31, 2023. The tenant recently notified the landlord that they exercised their first option period. The rent will be $678,180 effective February 1, 2023, and will continue to increase by 3% every 5 years throughout the remaining six, five-year tenant renewal options.
