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CVS Pharmacy 2801 Egypt Rd 11,495 SF Retail Building Audubon, PA 19403 $6,700,000 ($582.86/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN lease with 12.7 years remaining, guaranteed by CVS Health Corporation
- Built-to-suit in 2007 with drive-thru for added convenience and value
- Dense, affluent trade area with 154,225 residents and $142,758 average household income within five miles
- Ten five-year renewal options with 3% rental increases every five years
- Located on a signalized hard corner with strong traffic counts (Egypt Rd: 21,663 VPD; Park Ave: 13,054 VPD)
- Proximity to King of Prussia Mall, major shopping centers, and regional medical facilities
EXECUTIVE SUMMARY
This corporately guaranteed CVS offers more than 12 years of remaining term on an absolute triple-net lease, featuring rare 3% rental increases every five years in the option periods. Built-to-suit for CVS in 2007, the property includes a high-value drive-thru and sits at a signalized hard corner along S. Park Avenue and Egypt Road, just 0.8 miles from the Pottstown Expressway. The location is surrounded by strong consumer traffic drivers, including Audubon Square and Valley Forge Marketplace, two top-ranked community centers with millions of annual visits, and is only five miles from King of Prussia Mall, one of the largest and most visited malls in the nation. The asset benefits from a dense, affluent trade area with more than 154,000 residents and over 220,000 employees within five miles, supported by nearby major medical centers and significant surrounding retail.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,495 SF
Building Class
B
Year Built
2007
Price
$6,700,000
Price Per SF
$582.86
Cap Rate
7.50%
NOI
$502,439
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.78 AC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 43-00-03658-007 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,225,750 |
PROPERTY TAXES
Parcel Number
43-00-03658-007
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,225,750
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CVS Pharmacy | 2801 Egypt Rd
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