CVS 39820 Hickman Plaza Rd 13,300 SF Retail Building Bethany Beach, DE 19930 $1,585,915 ($119.24/SF)

This investment offering provides the opportunity to acquire a leasehold position in a CVS Pharmacy located in the sought-after resort community of Bethany Beach, Delaware. The property operates under an absolute NNN lease with a 25-year base term that runs through October 31, 2035, presenting investors with a passive ownership structure and no landlord responsibilities. The site includes a one-story CVS building comprising approximately 13,300 square feet, positioned on a 1.26-acre parcel that was built-to-suit in 2010.
Bethany Beach is a premier coastal destination known for boardwalk attractions, pristine beaches, and affluent seasonal visitors. The property sits along Delaware Route 1 (Coastal Highway), a key north-south thoroughfare offering over 33,000 vehicles per day and multiple ingress and egress points. Neighboring the Sea Colony Community—home to more than 2,200 condos and a full amenity suite—this location benefits from dense seasonal tourism and a strong local demographic, highlighted by an average household income exceeding $124,000 within a five-mile radius.
CVS Health Corporation guarantees the lease and ranks among the largest healthcare companies in the United States, operating more than 9,000 locations nationwide. This investment combines the security of a credit-rated tenant, long lease term, limited competition in the area, and strong tourism-driven fundamentals, making it an attractive acquisition for investors seeking income stability combined with 100% depreciation benefits under the leasehold structure.