CVS 734 E Washington St 10,125 SF Retail Building New Castle, PA 16101 $3,111,111 ($307.27/SF) 6.75% Cap Rate

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a single-tenant CVS located 734 E Washington Street in New Castle, Pennsylvania (the “Property”). The build to suit property was developed in 2000 and CVS recently executed a 10-year lease extension demonstrating their commitment to the site and the market. CVS has 8+ years remaining on their lease with four (4), 5-year renewal options. The lease provides for 7% rent increases at the start of each renewal option.
The Property occupies a highly visible location at the signalized intersection of E Washington Street, Taylor Street and Butler Avenue (US Route 422 Business), one of New Castle's primary commercial corridors and a heavily traveled route connecting residential neighborhoods with the city's retail, medical, and business districts. The site offers excellent accessibility and benefits from convenient access to Interstate 376, US Routes 422 and 224, and Pennsylvania Routes 18 and 65, providing strong regional connectivity throughout Western Pennsylvania and into neighboring Ohio. The surrounding area is anchored by a diverse mix of national retailers, healthcare providers, schools, and established residential communities, generating consistent daily traffic and a stable customer base. Major employers, including UPMC Jameson Hospital, Ellwood Group, Berner International, and Lawrence County government offices, support steady daytime population and consumer demand, while nearby educational institutions such as Westminster College and regional schools further contribute to the area's activity.
Positioned within an established retail corridor that serves the everyday needs of the surrounding community, the Property is exceptionally well-suited for a pharmacy, benefiting from strong visibility, convenient access, and recurring customer visits driven by healthcare, prescription services, and daily convenience shopping.