2045 Forest Ave
Staten Island, NY 10303
CVS · Retail Property For Sale

The property rests on a 38,781 square foot lot, with parking for 45 cars and a drive-thru. There is additional income coming in from a lease with Lamar Companies for a billboard on the property. Lamar has a 20-year lease which runs through January 31, 2029. The offering consists of the fee simple position and the improvements (leasehold position). There is a sublease on the property (sublandlord) which requires a third-party to receive ground lease payments. That sublease runs until March 1, 2052. The sublandlord currently receives $104,500 per year, and the payment goes up 10% every five years. The next increase is March 1, 2020. This is a high-performing store for CVS. It located on Forest Avenue, a major thoroughfare in Staten Island. The property is directly across the street from a shopping center with Western Beef, Advance Auto Parts, Planet Fitness and Dollar Tree. In addition, it is surrounded by retailers Kohl’s, Lowe’s 7-Eleven, Bank of America, Pep Boys and Harbor Freight.