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CVS Pharmacy 734 E Washington St 10,125 SF Retail Building New Castle, PA 16101 $3,333,333 ($329.22/SF) 6.30% Cap Rate
Investment Highlights
- Investment Grade Credit Tenant
- Low Rent-to-Sales Ratio
- Long Remaining Lease Term
- Longstanding History and Recent Renewal
- Established Regional Hub
Executive Summary
The Property is 100% occupied by CVS Health Corporation and is subject to a NN lease with limited landlord responsibilities. There are 9 years remaining on the base lease term with 4, 5-year renewal option periods and 7% rent increases at the beginning of each option period. Situated at the intersection of Taylor Street and 65th Infantry Division Memorial Hwy, the location is ideal given its visibility and ease of access. Approximately two miles from the Property is UPMC Jameson, a full-service community hospital providing comprehensive inpatient, outpatient, and emergency care. The Property features a low rent-to-sales ratio of 1.51%.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,125 SF
Building Class
C
Year Built
1999
Price
$3,333,333
Price Per SF
$329.22
Cap Rate
6.30%
NOI
$210,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.17 AC
Opportunity Zone
Yes
Zoning
R-2
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-128500 | Improvements Assessment | $535,100 |
| Land Assessment | $152,900 | Total Assessment | $688,000 |
Property Taxes
Parcel Number
04-128500
Land Assessment
$152,900
Improvements Assessment
$535,100
Total Assessment
$688,000
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CVS Pharmacy | 734 E Washington St
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