Mt Pocono, PA - CVS

Description:

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru equipped, CVS Pharmacy located in Mount Pocono, Pennsylvania. The tenant has approximately 13 years remaining with 10 (5-year) options to extend. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. CVS Pharmacy is America’s leading retail pharmacy with nearly 10,000 locations across 49 states, District of Columbia and Puerto Rico. The site ranks in the top 74th percentile of CVS sites located in all of Pennsylvania, per Placer.ai.

The asset is strategically located at the signalized hard corner intersection of State Highway 940 and Commerce Street which serves over 17,000 vehicles per day. Furthermore, the asset is within close proximity to Interstate 380 (30,500 VPD) and State Highway (21,600 VPD), making this an ideal centralized location with easy commutes. The asset is positioned on an oversized parcel (2.99 acres), providing a future investor with significant intrinsic value. With the nearest CVS being over
6 miles away, the site benefits from limited competition within the immediate trade area. The site is within walking distance from Mt Pocono Plaza, a 201,000 SF community center anchored by Weis Markets, Harbor Freight, Planet Fitness, Dollar Tree, and more. Other nearby national/credit tenants include Walmart Supercenter, Lowes, Tractor Supply Co., Aldi, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. The 5-mile subject trade area is supported by more than 24,000 residents and 17,000 daytime employees who earn an average household income of more than $92,000.