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CVS & AutoZone 615 Metacom Ave 19,000 SF Retail Building Warren, RI 02885 $3,564,700 ($187.62/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-term Corporate CVS with Recent Lease Extension | CVS has been operating out of this location since the 1970's
- Large 1.93-Acre Lot with Excellent Access, Visibility, and Traffic | The two buildings sit on a large 1.93-acre lot
- Recently Constructed Corporate AutoZone with 20-year Lease | AutoZone opened in 2024 and currently has over 17.5 year of term remaining
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a CVS & AutoZone located at 615 Metacom Ave, Warren, RI 02885. The site consists of a roughly 7,000 square foot AutoZone and a 12,000 square foot CVS on an estimated 1.93-acre parcel of land. CVS recently extended their lease early by 10 years and has 13.5 years of term remaining, and AutoZone has approximately 17.7 years of term remaining. The current annual rent is $213,882. AutoZone has scheduled increases of 8.00% every 5 years, and CVS has an 8% increase in the first option and 10% increases in options two through five.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
19,000 SF
Building Class
B
Year Built
1975
Price
$3,564,700
Price Per SF
$187.62
Cap Rate
6%
NOI
$213,882
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.93 AC
Zoning
10
Frontage
101’ on Metacom Avenue
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | WARR-000015B-000000-000338 | Improvements Assessment | $2,383,400 |
| Land Assessment | $303,300 | Total Assessment | $2,686,700 |
PROPERTY TAXES
Parcel Number
WARR-000015B-000000-000338
Land Assessment
$303,300
Improvements Assessment
$2,383,400
Total Assessment
$2,686,700
CONTACTS
-
Anthony D'Ambrosia -
Josh Kanter -
Stewart Hickey -
Glen Kunofsky -
Christopher Marks -
Surmount
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CVS & AutoZone | 615 Metacom Ave
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