CVS Pharmacy

$4,650,000

111 Terry Road, Smithtown, NY 11787

For Sale

Retail Unknown Sub Type

Active

Last Updated: 08/07/2025

Details:

Cap Rate: 5.28%

Building Size: 10,125 sqft

Lot Area: 1.4 acres

Year Built: 1997

Offered by

Armond Aivazyan

Broker

Surmount

#NY: 10401387457

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Highlights:

Corporate Lease with Strong Credit: CVS Pharmacy operates under a corporate-guaranteed lease, backed by CVS Health (NYSE: CVS), a Fortune 500 company with a stable financial outlook.
Minimal Landlord Responsibilities: The property has a modified NNN lease with minimal landlord responsibilities, limited to the roof, which was replaced in 2013 and comes with a transferable warranty.
Rent Increases In Options: Built-in rental escalations of 8% in 2029 (Option 1) and 2034 (Option 2) provide steady income growth for investors.
Established Location with Strong Performance: CVS has been operating at this site for over 25 years, demonstrating a longstanding investment in this location with an established customer base.
Immediate Customer Base from High-Income 312-Unit Avalon Commons: Positioned at the entrance of Avalon Commons, a 312- unit luxury apartment community, CVS benefits from a built-in customer base of high-income residents.
Essential Retail with Defensive Stability: As a leading healthcare and pharmacy provider, CVS benefits from consistent consumer demand, making it a recession-resistant investment.

Description:

NNN Pro is pleased to present the exclusive listing for a CVS Pharmacy located at 111 Terry Road, Smithtown, NY 11787. The site consists of roughly 10,125 rentable square feet of building space on an estimated 1.4-acre parcel of land. This CVS Pharmacy is subject to a 20-year Modified Triple Net lease, which commenced 7/17/1997. The current annual rent is $245,470 and has scheduled increases of in options.