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CVS 160 Fairview Ave 12,765 SF Retail Building Hudson, NY 12534 $3,448,000 ($270.11/SF) 6% Cap Rate

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INVESTMENT HIGHLIGHTS

  • 3 Years Remaining | Scheduled Rental Increases | Corporate Guaranteed | Strong Performing Store | Reputable Brand
  • Outparcel to Fairview Plaza (282K+ SF) | Dense Retail Trade Area
  • Direct Residential Consumer Base | Demographics in 5-Mile Trade Area
  • NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
  • Located Along Fairview Plaza | Centralized Location |Drive-Thru Equipped | Excellent Visibility & Access

EXECUTIVE SUMMARY

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.

PROPERTY FACTS

Sale Type
Investment NNN
Sale Condition
Business Value Included
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,765 SF
Building Class
C
Year Built
2007
Price
$3,448,000
Price Per SF
$270.11
Cap Rate
6%
NOI
$206,879
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
0.95 AC
Zoning
401 - Commercial
Parking
45 Spaces (3.53 Spaces per 1,000 SF Leased)
Frontage
93’ on Fairview Ave

AMENITIES

  • Corner Lot
  • Signage
  • Signalized Intersection
  • Drive Thru
  • Air Conditioning

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Retailer
  • -
  • -
  • -

CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Retailer - - -

NEARBY MAJOR RETAILERS

TD Bank
Planet Fitness
Community Bank
Rent-A-Center

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
104000-110-000-0001-093-000-0000
Land Assessment
$118,800
Improvements Assessment
$1,506,200
Total Assessment
$1,625,000
  • Listing ID: 31523727

  • Date on Market: 4/16/2024

  • Last Updated:

  • Address: 160 Fairview Ave, Hudson, NY 12534

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