CVS - Boston MSA | Absolute NNN Lease 336 Bridge St 12,158 SF Retail Building Lowell, MA 01850 $9,366,667 ($770.41/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 98th Percentile of CVS Sites Nationally – The site ranks among the top 2% of stores both nationally and statewide according to Placer.ai
- New 15-Year Lease – CVS underscored their commitment to the site signing a new 15-year lease in 2024
- BBB Credit Rating by Standard & Poor’s – Tenant is publicly traded on the NYSE and reported annual revenues in excess of $368 billion in 2024
- 24 Hour Location – The site is positioned along two main traffic arteries, directly across from downtown Lowell and features a drive-thru
- Absolute NNN Lease Structure – Zero landlord responsibilities for operating or capital expenses
- Densely Populated Area – 135,000 residents within a 3-mile radius and over 200,000 residents within a 5-mile radius
EXECUTIVE SUMMARY
The subject property is a 12,158-square-foot CVS located in Lowell, Massachusetts. This 24-hour location is a top-performing site, ranking in the 98th percentile of CVS locations both nationally and statewide, according to Placer.ai. Its success is underscored by CVS's recent commitment to the site, demonstrated by a new 15-year lease signed in 2024. The lease includes 10% rent increases at each of the three 5-year renewal options.
The property operates under an absolute NNN lease, ensuring zero landlord responsibilities. CVS, publicly traded on the New York Stock Exchange under the ticker symbol "CVS," holds a BBB credit rating from Standard & Poor’s and reported annual revenues exceeding $368 billion in 2024.
Situated along the Merrimack River, just across from downtown Lowell, the area surrounding the property is densely developed with a mix of commercial and residential projects. The site is located directly across the river from The Apartments & Lofts at Boott Mills, a historic cotton mill that underwent a $60 million, decade-long transformation into a mixed-use development featuring 154 apartments, 78 condominiums, and 43,000 square feet of commercial space. Additionally, the property is less than a tenth of a mile from the Saints Campus of Lowell General Hospital, a 157-bed facility with a full-service Emergency Department.
Positioned at the signalized intersection of VFW Highway and Bridge Street, the property enjoys prime visibility along two of the area’s main traffic corridors, with combined daily traffic counts exceeding 40,200 vehicles. The surrounding area is densely populated, with approximately 135,000 residents within a three-mile radius and over 200,000 residents within a five-mile radius. The local population is also highly affluent, with an average household income exceeding $121,000 within a five-mile radius, a figure projected to grow by 16% over the next five years.
The property operates under an absolute NNN lease, ensuring zero landlord responsibilities. CVS, publicly traded on the New York Stock Exchange under the ticker symbol "CVS," holds a BBB credit rating from Standard & Poor’s and reported annual revenues exceeding $368 billion in 2024.
Situated along the Merrimack River, just across from downtown Lowell, the area surrounding the property is densely developed with a mix of commercial and residential projects. The site is located directly across the river from The Apartments & Lofts at Boott Mills, a historic cotton mill that underwent a $60 million, decade-long transformation into a mixed-use development featuring 154 apartments, 78 condominiums, and 43,000 square feet of commercial space. Additionally, the property is less than a tenth of a mile from the Saints Campus of Lowell General Hospital, a 157-bed facility with a full-service Emergency Department.
Positioned at the signalized intersection of VFW Highway and Bridge Street, the property enjoys prime visibility along two of the area’s main traffic corridors, with combined daily traffic counts exceeding 40,200 vehicles. The surrounding area is densely populated, with approximately 135,000 residents within a three-mile radius and over 200,000 residents within a five-mile radius. The local population is also highly affluent, with an average household income exceeding $121,000 within a five-mile radius, a figure projected to grow by 16% over the next five years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
12,158 SF
Building Class
C
Year Built
2008
Price
$9,366,667
Price Per SF
$770.41
Cap Rate
6%
NOI
$562,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.24 AC
Zoning
B1000
Frontage
89’ on Bridge St
AMENITIES
- 24 Hour Access
- Drive Thru
Walk Score®
Walker's Paradise (92)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | LOWE-000176-000780-000336 | Improvements Assessment | $2,973,000 |
| Land Assessment | $423,800 | Total Assessment | $3,396,800 |
