Hudson, NY - CVS

Description:

SRS National Net Lease in collaboration with Trinity Realty Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, drive-thru equipped, CVS Pharmacy investment property located in Hudson, NY. The tenant, CVS Mack Drug of New York, LLC (CVS), has 3 years of firm term remaining with an additional 3 (5-year) option periods left to extend. The lease features scheduled rental increases at the beginning of each option, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity (NYSE: CVS | S&P: BBB) and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1963, CVS is the leading retail pharmacy chain in the U.S. with over 9,100 operating locations.

CVS is strategically located along Fairview Avenue with clear visibility and access to an average of 16,000 vehicles passing by daily. The property is also near State Highway 66 (11,500 VPD), U.S. Highway 9 (8,000 VPD), and State Highway 23B (7,900 VPD), allowing for easy access. The property is ideally situated as an outparcel to Fairview Plaza, a 282K+ SF Community Center anchored by Ollie’s Bargain Outlet and Planet Fitness. The surrounding tenants include ALDI, McDonald’s, Staples, O’Reilly Auto, Walmart Supercenter, Lowe’s, Kohl’s, and others. The dense retail trade area drives a steady stream of loyal, local consumers to the area, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Apple Meadow Village (58 units), Essex Manor (81 units), Joslen Commons (96 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 18,800 residents and 12,900 daytime employees, with an affluent average household income of $101,626.

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