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CVS 160 Fairview Ave 12,765 SF Retail Building Hudson, NY 12534 $3,111,000 ($243.71/SF) 6.65% Cap Rate
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
Building Size
12,765 SF
Building Class
C
Year Built
2007
Price
$3,111,000
Price Per SF
$243.71
Cap Rate
6.65%
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 Pharmacy began as a single store in Lowell, Massachusetts in 1963 and grew into a retail pharmacy business within CVS Health. The company dispenses prescriptions and supports patient care through vaccinations, counseling, prescription savings, mail order pharmacy, specialty pharmacy, and prescription delivery, while also selling health and wellness products and general merchandise. CVS Pharmacy remains a major U.S. pharmacy chain with a broad neighborhood presence and is part of a larger health care platform that connects retail pharmacy, pharmacy benefits, and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 104000-110-000-0001-093-000-0000 | Improvements Assessment | $3,353,700 |
| Land Assessment | $166,300 | Total Assessment | $3,520,000 |
Property Taxes
Parcel Number
104000-110-000-0001-093-000-0000
Land Assessment
$166,300
Improvements Assessment
$3,353,700
Total Assessment
$3,520,000
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