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CVS | NYSE: CVS | Abs NNN Leasehold 2311 Hanover Pike 13,137 SF Retail Building Hampstead, MD 21074 $2,677,041 ($203.78/SF) 9% Cap Rate
Investment Highlights
- Corporate Guaranteed (NYSE: CVS) Building Lease | Options To Extend | Guaranteed Ground Lease Assigned
- Outparcel to Hampstead Marketplace | Along Primary Commercial Corridor | Lack of Competition
- Absolute NNN | Leasehold Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to present the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN-leased CVS Zero Cash Flow investment property located in Hampstead, Maryland. The property is leased to CVS (NYSE: CVS) under a 25-year absolute NNN lease with approximately eight (8) years remaining and four (4) five-year options to extend, the latter two of which are at fair market rent—underscoring the tenant’s long-term commitment to this location. The absolute NNN structure features zero landlord responsibilities, creating a truly management-free investment that is especially attractive to out-of-state or passive investors. The building is subject to a 24-year ground lease, also with approximately eight (8) years remaining and four (4) five-year options to renew. Importantly, the ground lease has been assigned to CVS, further minimizing ongoing obligations and day-to-day management for the leasehold owner.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Building Size
13,137 SF
Building Class
B
Year Built
2007
Price
$2,677,041
Price Per SF
$203.78
Cap Rate
9%
NOI
$240,934
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.68 AC
Zoning
General Business
Parking
88 Spaces (6.7 Spaces per 1,000 SF Leased)
Frontage
122’ on Hanover Pike
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
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 | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-026912 | Improvements Assessment | $8,371,600 |
| Land Assessment | $1,841,400 | Total Assessment | $10,213,000 |
Property Taxes
Parcel Number
08-026912
Land Assessment
$1,841,400
Improvements Assessment
$8,371,600
Total Assessment
$10,213,000
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CVS | NYSE: CVS | Abs NNN Leasehold | 2311 Hanover Pike
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