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CVS | NYSE: CVS | Abs NNN Leasehold 2311 Hanover Pike 13,137 SF Retail Building Hampstead, MD 21074 $2,536,000 ($193.04/SF) 9.50% 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
$2,536,000
Price Per SF
$193.04
Cap Rate
9.50%
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 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 | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
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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