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CVS Pharmacy 106 Boston Rd 9,750 SF Retail Building Groton, MA 01450 $2,448,333 ($251.11/SF) 6% Cap Rate
Investment Highlights
- BEST-IN-CLASS, INVESTMENT-GRADE, PUBLIC GUARANTOR | LARGE PARCEL CREATES HIGH RESIDUAL VALUE
- RECENTLY EXERCISED RENEWAL OPTION | SYNERGISTIC LOCATION
- GREATER THAN MARKET CONTRACTUAL RENT GROWTH | AFFLUENT MARKET, 45 MINUTES FROM BOSTON
- HIGHLY ATTRACTIVE BTS ASSET | LIMITED COMPETITION
- HIGHLY PASSIVE, ABSOLUTE NNN GROUND LEASE | EXCELLENT ACCESS & VISIBILITY ON STATE HIGHWAY
- LOW RENT/LOW PRICE POINT IN TIGHT SUBMARKET | HIGH BARRIER-TO-ENTRY MARKET
Executive Summary
Northmarq, on behalf of ownership, is pleased to present the opportunity to acquire the fee simple interest in the ground of the CVS Pharmacy located at 106 Boston Road in Groton, Massachusetts (the “Property”). A build-to-suit store in 1999, CVS has been at this location for more than 25 years, which includes exercising the first of five, ten-year renewals in 2021. Their Absolute NNN lease has zero landlord responsibility with no rent holiday and, in fact, features 8% rent bumps every five years through each of the remaining four, ten-year option periods – accelerated rent growth compared to many drugstore leases.
Property Facts
Sale Type
Investment
Property Type
Building Size
9,750 SF
Building Class
B
Year Built
1999
Price
$2,448,333
Price Per SF
$251.11
Cap Rate
6%
NOI
$146,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
4.33 AC
Zoning
B1
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Jan 0000
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 99,999 SF | - | Jan 0000 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | GROT-000222-000019 | Improvements Assessment | $3,264,600 |
| Land Assessment | $543,500 | Total Assessment | $3,808,100 |
Property Taxes
Parcel Number
GROT-000222-000019
Land Assessment
$543,500
Improvements Assessment
$3,264,600
Total Assessment
$3,808,100
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CVS Pharmacy | 106 Boston Rd
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