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CVS - Montville, CT 2005 Norwich New London Tpke 13,325 SF Retail Building Uncasville, CT 06382 $5,072,600 ($380.68/SF) 7.30% Cap Rate
Investment Highlights
- TWENTY-FIVE YEAR LEASE
- EXCELLENT EXPOSURE ALONG MAIN THOROUGHFAR
- LONG OPERATING HISTORY
- CORPORATE GUARANTY FROM INVESTMENT GRADE TENANTS
- PROXIMITY TO MOHEGAN SUN CASINO
- DOMINANT RETAIL CORRIDOR
Executive Summary
Atlantic Capital Partners is pleased to exclusively offer for sale the CVS located at 2005 Norwich-New London Turnpike in Montville, CT. The 13,325 SF building has been leased to CVS since it was built in 2008. The 25-Year Lease with CVS expires January 31, 2034 and includes six (6) five (5) year options. CVS is paying $370,300 with 5% increases at the start of every option period. The CVS offering is located just minutes from the Mohegan Sun Casino, the 2nd largest casino in the United States. Mohegan Sun offers 364,000 SF of gaming space, multiple entertainment complexes, and draws over 7.6 million visitors annually.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
13,325 SF
Building Class
B
Year Built
2008
Price
$5,072,600
Price Per SF
$380.68
Cap Rate
7.30%
NOI
$370,300
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
3.30 AC
Zoning
C-1
Parking
73 Spaces (5.47 Spaces per 1,000 SF Leased)
Frontage
107’ on Norwich New London Tpke
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $27.79
- Triple Net
- Nov 2033
CVS Pharmacy began as Consumer Value Stores in Lowell, Massachusetts in 1963 and introduced pharmacies inside stores a few years later in Cranston, Rhode Island. The business operates as part of CVS Health, a broader health care company that combines retail pharmacy with pharmacy services, mail order, specialty pharmacy, prescription delivery, vaccinations, and clinical support. CVS Pharmacy serves consumers through a wide network of neighborhood pharmacies and offers services tied to medication access, counseling, and wellness needs. Over time, the company expanded from a single store format into a major U.S. pharmacy presence with a national footprint in health care delivery.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $27.79 | Triple Net | Nov 2033 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | MONT-000099-000059 | Improvements Assessment | $2,103,010 |
| Land Assessment | $624,050 | Total Assessment | $2,727,060 |
Property Taxes
Parcel Number
MONT-000099-000059
Land Assessment
$624,050
Improvements Assessment
$2,103,010
Total Assessment
$2,727,060
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