Cvs 24 Hour Store & Minute Clinic

400 Park Avenue, Worcester, MA

$5,343,661

Price

8%

Cap Rate

14,952 sqft

Building Size

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Street
Map
Overview
Cap Rate
8%
Building Size
14,952 sqft
Lot Area
1.49 acres
Occupancy
100%
Class
A
Lease Type
Absolute Net
Tenancy
Single
Investment Strategy
Core
Lease Expire Year
01-31-2035
Description

80% Bonus Accelerated Depreciation Year 1

• Ownership: Leasehold
• Full Rent Holiday Credit: $1,420,467
• Price After Rent Holiday Credit: $5,343,661
• Cap Rate After Rent Holiday Credit: 8.9%
• NOI: $473,489
• Lease Term: 11.75 Years
• Lease: Absolute Net
• Size: 14,952 SF on 1.49 Acres

Location: 400 Park Ave, Worcester, MA 01609, USA - MAP LINK

1 mile: 17,724 Population | 3 mile: 186,319 Population | 5 mile: 450,617 Population

AHHI: 1 mile: $65,776| 3 mile: $63,230| 5 mile: $70,487

Highlights
  • 24-Hour Store is Indicative of Extremely Strong Performance
  • Minute Clinic Equipped Store
  • 1.4 Miles outside of Downtown Worcester & 1 Hour Outside of Downtown Boston
  • Absolute Net Bond Lease | No Landlord Responsibilities
  • Combined Student Body of 9,649 Within 2-Miles | Worcester State University & Clark University
  • Lease is Corporately Guaranteed by CVS, the largest pharmacy chain in the U.S | S&P “BBB+"
  • Busy Intersection With Combined Traffic Counts Exceeding 33,750
  • 36 Month Rent Holiday
Documents
Title
CVS_-_Worcester_MA_-_24_Hour_Minute_Clinic.pdf
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Location
Gallery