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CVS Zero Cash Flow 604 Corner Ketch Rd 13,225 SF Retail Building Newark, DE 19711 $7,616,110 ($575.89/SF)
Investment Highlights
- 19+ years remaining on absolute net lease
- Corporate guaranty from CVS Health Corporation (see below)
- Heavily trafficked intersection – 27,000+ VPD
- Zero cash flow lease structure
- 2019 build-to-suit construction at signalized hard corner
- Extremely affluent residential submarket – $191,000 average household incomes within a 1-mile radius of the subject property
Executive Summary
A CVS Zero Cash Flow asset with 19+ years remaining in the base term of an absolute net lease. Subject property is located in Newark – an extremely affluent Philadelphia suburb boasting average household incomes of $191,000 within a 1-mile radius.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
13,225 SF
Building Class
C
Year Built
2019
Price
$7,616,110
Price Per SF
$575.89
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
3.30 AC
Zoning
CR, Mill Creek 100
Frontage
Property Taxes
| Parcel Number | 08-035.00-014 | Improvements Assessment | $544,800 |
| Land Assessment | $30,200 | Total Assessment | $575,000 |
Property Taxes
Parcel Number
08-035.00-014
Land Assessment
$30,200
Improvements Assessment
$544,800
Total Assessment
$575,000
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CVS Zero Cash Flow | 604 Corner Ketch Rd
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