CVS Executed a Brand New 20-Year Extension in 2021 For Sale
$3,052,000
100 East Lake Boulevard, Mahopac, NY 10541
For Sale
Retail
Active
Last Updated: 09/17/2024
6.25
Cap Rate
10,402 sqft
Building Size
Details:
Cap Rate: 6.25%
Building Size: 10,402 sqft
Lot Area: 43,560 sqft
Lease Type: Absolute Net
Year Built: 1970
Price Per Sqft: $343
Zoning: C
Parking Spots: 50
Parking Ratio: 4.81
Highlights:
- Recent 20 Year Extension: CVS Executed a brand new 20-year extension in 2021, further showing their long-term commitment to this location.
- High Performing Location: This location has been operating as a drugstore for 30+ years, with CVS previously reporting sales consistently north of $15 million. Please contact agent for more information.
- Long Term Lease: There are currently ±17.50 years remaining on the initial lease term, which runs through September, 2041.
- Passive Ownership: NNN lease structure, with limited landlord responsibilities. The tenant recently invested its own capital to improve the parking surface within the past ±2 years.
- Investment Grade Credit: Lease is corporately guaranteed by CVS (NYSE: CVS), with a market cap of $94 billion and over 9,000 stores across the country.
- Strong Demographics: Strong market ±50 miles outside New York City, with local HH income over $100,000. The corner of Route 6 and E Lake Blvd is a high traffic corner that sees average VPD upwards of ±20,000.
Documents:
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CVS-Mahopac__NY-OM.pdf
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Location
Gallery
