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9-Unit Leasehold Portfolio
CVS 9 Store Leasehold Portfolio | Above Market Return
Listing Contacts
See All (8)
License: FL FL SL3211804
License: RI 00451161, FL: SL3507777
Active
Address (9 locations)
1402 E Lake Mead Pkwy, Henderson, NV 89015
Show on Map885 Central Ave, Albany, NY 12206
Show on Map1571 Forest Ave, Staten Island, NY 10302
Show on Map4 Hall St, Concord, NH 03301
Show on Map542 Providence Rd, Brooklyn, CT 06234
Show on Map4700 Piedmont Pkwy, Jamestown, NC 27282
Show on Map2902 Forestville Rd, Raleigh, NC 27616
Show on Map6206 Commerce Palms Dr, Tampa, FL 33647
Show on Map301 S 6th Ave, Wauchula, FL 33873
Show on MapDate Added
Apr 14, 2025
Days on Market
67 days
Time Since Last Update
44 days
Details
Property TypeRetail
SubtypeCommercial
Lease TypeAbsolute NNN
TenancySingle
Brand/TenantCVS Pharmacy
Lease Term25 years
Lease Commencement05/31/2008
Rent Commencement05/31/2008
Remaining Term8 years
Square Footage12,900 - 13,536
Cap Rate8.75%
Occupancy100%
NOI$2,361,334
Year Built2007/2008
Lot Size (acres)5.12
OwnershipPublic
Marketing Description
Marcus & Millichap is pleased to exclusively present for sale an outstanding Leasehold portfolio of 9 absolute NNN CVS properties spanning six key states: Nevada, New York, New Hampshire, Connecticut, North Carolina, and Florida. This diversified portfolio spans approximately 122,245 square feet of gross leasable area, providing investors with diversification and robust risk mitigation throughout dynamic markets. Strategically situated in markets with an impressive average household income of $102,162 within a one-mile radius, these properties benefit from strong local demographics. With over 8 years of weighted average lease term (WALT) remaining, the portfolio promises long-term, predictable cash flow under absolute NNN leases with no landlord responsibilities. Each location is drive-thru equipped, providing superior convenience and contributing to higher average sales performance. Notably, two properties also feature Minute Clinics, further enhancing the revenue profile. CVS Health Corporation, the tenant, is a leading American healthcare company headquartered in Woonsocket, Rhode Island. The company operates CVS Pharmacy, CVS Caremark, and Aetna, employing over 300,000 people and generating $357 billion in annual revenue. This portfolio is ideally suited for passive investors seeking a stable, income-producing investment with significant diversification and minimal management oversight.
Investment Highlights
- CVS Corporate Guarantee Leases | CVS Health Corporation (NYSE: CVS)
- Investment Grade Credit Tenant, Rated BBB+ by S&P™
- Absolute NNN Leases | Zero Landlord Responsibility
- Over 8 Years Weighted Average Lease Term (WALT) Remaining
- Affluent Demographics | $102K Average Household Income in a 1-Mile Radii
- Comprised of Approximately 122,245 Square Feet of Gross Leasable Area
- Portfolio Includes 9 Locations in NV, NY, NH, CT, NC, and FL
- All Locations are Drive-Thru Equipped
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
> $2,361,334.00
$196,777.83/mo
Valuation Metrics
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0
DSCR
10.87%
Cap Rate
10.87%
ROI
Property History
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Due Diligence
Listing Contacts
See All (8)- License: FL FL SL3211804
- License: RI 00451161, FL: SL3507777
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Additional Information
Broker of Record
Cameron (Frank) Glinton
Broker of Record: License Type
NV B.1002894.CORP
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