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- LoopNet Team
13 Port Watson St
Cortland, NY 13045
CVS Pharmacy · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- CVS has been successfully operating here since 1998 and has extended its lease numerous times, most recently for another 10 years.
- The lease is corporately guaranteed by CVS, an investment grade credit tenant, rated “BBB” by Standard & Poor's.
- In-town, easily walkable location surrounded by numerous local businesses, restaurants and residential homes.
- The State University of New York (SUNY) College at Cortland is located just 0.5 miles from CVS with over 6,800 students enrolled.
- At $2.8M this is a small price point for an investment grade pharmacy with lease term.
- CVS is ideally located just 1 mile from the on/off ramps of I-81 with traffic counts over 22,000 vehicles per day.
PROPERTY FACTS
AMENITIES
- Air Conditioning
ABOUT 13 PORT WATSON ST , CORTLAND, NY 13045
CBRE is pleased to exclusively offer for sale CVS Pharmacy located in Cortland, New York. CVS has been successfully operating here since 1998 and has extended its lease numerous times, most recently for another 10 years, showing a strong commitment to this location. There are 8% rental increases every 5 years in each of the remaining three, five year options periods. The lease is corporately guaranteed by CVS, an investment grade credit tenant, rated “BBB” by Standard & Poor's. CVS Cortland, located at 13 Port Watson Street, is well positioned as an in-town, easily walkable location surrounded by numerous local businesses, restaurants and residential homes. The State University of New York (SUNY) College at Cortland is located just 0.5 miles from CVS with over 6,800 students enrolled. This property features CVS’ 10,125 square foot prototype with a single drive-thru lane and is all brick construction which equates to low deferred maintenance. There are 16,860 people within 1 mile of the site, 26,888 people within 3 miles of the site and 32,719 people within 5 miles of the site. CVS has excellent visibility from Port Watson Street, with traffic counts over 16,000 vehicles per day. The site is also located just 1 mile from the on/off ramps of I-81 with traffic counts over 22,000 vehicles per day. Additionally, this location's success is due to the minimal competition surrounding the site. At $2.8M, this is a small price point for an investment grade pharmacy with lease term and provides a passive investment for the astute investor.
PROPERTY TAXES
| Parcel Number | 110200 86.66-02-19.000 | Improvements Assessment | $1,254,900 |
| Land Assessment | $145,100 | Total Assessment | $1,400,000 |
PROPERTY TAXES
