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CVS 676 Southbridge St 10,125 SF Retail Building Auburn, MA 01501 $4,888,888 ($482.85/SF) 6.75% Cap Rate

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Investment Highlights

Long Term Lease
Investment Grade Credit
Strategic Retail Location

Scheduled Rent Increases
Zero Management Responsibilities
Limited Competition

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant CVS investment property located at 676 Southbridge Street in Auburn, Massachusetts (the “Property”). The Property was originally constructed for CVS in 1997 with a 20-year, Triple Net (NNN) Lease; in 2004, CVS demonstrated a strong commitment to the site by modifying their lease to a full 25-year term that expires in 2029. There are currently 3+ years of term remaining on the lease followed by four (4), 5-year renewal options. The lease features attractive 6.0% rent increases at the start of each of the renewal options. CVS is strategically located along Southbridge Street in Auburn’s primary commercial corridor, situated at the signalized intersection with Faith Avenue and Goulding Drive, which provides strong visibility, frontage, and convenient access. The Property benefits from excellent regional connectivity, located near the interchange of Interstate 290 and the Massachusetts Turnpike (I-90), allowing for efficient access to Worcester, Boston, and surrounding Central Massachusetts communities. The surrounding retail environment is well established, with nearby national retailers and traffic generators including BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall, all of which contribute to consistent consumer traffic and sustained activity within the trade area.

Property Facts Under Contract

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

10,125 SF

Building Class

Year Built

1997

Price

$4,888,888

Price Per SF

$482.85

Cap Rate

6.75%

NOI

$330,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.18

Lot Size

1.32 AC

Frontage

161’ on Southbridge St

Bus Line
Freeway Visibility

Pylon Sign

Signage

Signalized Intersection

Major Tenants

Retailer
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CVS Pharmacy began as a single store in Lowell, Massachusetts in 1963 and grew into a retail pharmacy business within CVS Health. The company dispenses prescriptions and supports patient care through vaccinations, counseling, prescription savings, mail order pharmacy, specialty pharmacy, and prescription delivery, while also selling health and wellness products and general merchandise. CVS Pharmacy remains a major U.S. pharmacy chain with a broad neighborhood presence and is part of a larger health care platform that connects retail pharmacy, pharmacy benefits, and related services.