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26456991
26456992

461 2nd Ave, Troy, NY 12182

DS
FL SL3579995
Matthews
CK
GA 413436
Matthews
MW
GA 415376, FL SL3631325
Matthews
Listed by Matthews
$3,193,000
287 days on market
Updated 69 days ago

CVS PHARMACY | 7.50% CAP | Troy, NY

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,125
Cap Rate 7.50%
NOI $239,456
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NN
Lease Expiration 01/31/2031
Remaining Term 5
Lease Options Four, 5-Year Options
Ownership Fee Simple

Steady 7.50% Cap Rate on Investment-Grade CVS in Troy—10,125 sf Retail with 5 Year Lease and $239K

Investment highlights

  • Commitment to Location: CVS recently renewed its lease at this site without negotiations, underscoring its strong commitment to this location.

  • Long-Standing Presence: CVS has been operating here since 2004, providing nearly 20 years of uninterrupted service and demonstrating its success within the community.

  • Passive Ownership Structure: Landlord responsibilities are limited exclusively to the roof and structure, making this a low-touch, hassle-free investment.

LOCATION HIGHLIGHTS:

  • Strategic Proximity to Albany & Major Employers: Located just 10 minutes from Downtown Albany and in close proximity to Rensselaer Polytechnic Institute (RPI), Samaritan Hospital, and other major regional employers.

  • Strong Traffic & Visibility: Positioned along 2nd Ave/Route 4, a key local thoroughfare with direct connectivity to I-787, providing excellent visibility and steady daily traffic counts.

  • Established Residential & Commercial Corridor: Surrounded by a dense mix of residential neighborhoods, schools, retail, and service-based businesses, driving consistent local foot traffic.

TENANT HIGHLIGHTS:

  • Investment-Grade Credit: CVS Health offers a solid corporate guaranty, backed by a BBB rating from S&P Global and Baa3 from Moody’s, reflecting its investment-grade financial strength and leading market position.

  • Global Public Company: With a market capitalization of approximately $78 billion USD, CVS Health is a Fortune 500 company and one of the largest healthcare and pharmacy services providers in the U.S., operating across retail, pharmacy benefit management (PBM), and insurance segments.

  • 60+ Years of Operational Leadership: Founded in 1963, CVS Health operates over 9,000 retail pharmacy locations nationwide, manages one of the largest PBM networks through CVS Caremark, and owns Aetna, a leading health insurance provider, positioning itself as a vertically integrated healthcare powerhouse.

Listing Contacts

DS
FL SL3579995
Matthews
CK
GA 413436
Matthews
MW
GA 415376, FL SL3631325
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$239,456.00
$19,954.67/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

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Additional Information

Name
Cory Rosenthal
License
10311210106, 10991237833 (NY)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
575 5th Ave., Ste 2810 New York, NY 10017
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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