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CVS Pharmacy 175 E 4th St 10,125 SF Retail Building Dunkirk, NY 14048 $3,123,000 ($308.44/SF) 6.75% Cap Rate
Investment Highlights
- Tenant has operated at this location since 1998 and demonstrated strong commitment by signing a 25-year lease extension in 2014.
- Limited Competition: The nearest CVS is 20 miles away, providing a strong competitive moat and consistent customer capture.
- Located just minutes from the university, benefiting from steady student, faculty, and visitor traffic.
- Robust Surrounding Retail Corridor: Area retailers include Walmart, Tim Hortons, Arby’s, Denny’s, and other national brands, reinforcing the strength
Executive Summary
Introducing 175 East 4th St | Dunkirk, NY 14048, a prime investment opportunity offered at $3,243,000 with a strong 6.5% CAP rate. Anchored by a long-term tenant with a lease until 2039, this property boasts an annual rent of $210,800 and consistent 5% increases. The 10,125 SF building on 0.83 acres is located strategically near SUNY Fredonia, ensuring steady traffic flow from students and faculty. Noteworthy for its limited competition, the property benefits from being the closest retail option for miles, securing a loyal customer base. Surrounded by national brands like Walmart and Denny's, 175 East 4th St is part of a bustling retail corridor, further strengthening its investment appeal. With robust demographics showing a steady population and household base within a 5-mile radius, this property presents a lucrative opportunity for investors seeking a stable income stream and long-term growth potential.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,125 SF
Building Class
B
Year Built
1998
Price
$3,123,000
Price Per SF
$308.44
Cap Rate
6.75%
NOI
$210,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.83 AC
Opportunity Zone
Yes
Zoning
C2
Frontage
Amenities
- Signage
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $20.82
- Double Net
- Jan 2039
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 Type | Lease End | |
|
|
Retailer | - | $20.82 | Double Net | Jan 2039 |
Walk Score®
Very Walkable (75)
Nearby Major Retailers
Property Taxes
| Parcel Number | 060300-079-015-0004-065-000 | Improvements Assessment | $572,500 |
| Land Assessment | $41,500 | Total Assessment | $614,000 |
Property Taxes
Parcel Number
060300-079-015-0004-065-000
Land Assessment
$41,500
Improvements Assessment
$572,500
Total Assessment
$614,000
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CVS Pharmacy | 175 E 4th St
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