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31399656
31399655

1068 Putnam Pike, Glocester, RI 02814 For Sale

AW
UT UT 11054719
Marcus & Millichap - Salt Lake City
Listed by Marcus & Millichap - Salt Lake City
$5,499,000
110 days on market
Updated 3 days ago

CVS Fee Simple Ownership (Zero Cash Flow or Investment Sale)

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 13,013
Net Rentable (SqFt) 13,013
Units 1
Cap Rate 7.47%
NOI $410,979
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Expiration 01/10/2035
Remaining Term 8.5
Rent Bumps Yes
Lease Options 5x5 year
Pro-Forma Cap Rate 6.73%
Pro-Forma NOI $369,881
Price per SqFt $423
Broker Co-Op Yes
Class A
Year Built 2007
Buildings 1
Stories 2
Acreage 2.060
Investment Type Stabilized
Tenant Credit Corporate Guarantee, Credit Rated
Ground Lease No

Beutiful large CVS near CVS headquarters

Marketing description

Corporately guaranteed CVS Zero Cash Flow Pharmacy lease in Glocester, Rhode Island. The property is leased on a Assumable Zero Cash FLow NNN basis, with approximately 10 years of term remaining through January 2035. Once paid off this lease provides a fixed income stream with positive cash flow and equity value from day one if strutured as such. The monthly rent of $34,248.26 is backed by CVS corporate credit, offering investors security and reliability. Situated along a key commercial corridor in an affluent and supply-constrained trade area, the property enjoys strong visibility, long-term viability, and minimal landlord responsibilities. This asset is well-suited for passive investors seeking long-duration credit tenancy, management-free ownership, and secure income.

Investment highlights

Corporate CVS Pharmacy – Absolute NNN Lease

Zero Cash Flow takeover option for 1031 or tax motivated buyer

Loan payoff option for cash flow buyers

Listing Contacts

AW
UT UT 11054719
Marcus & Millichap - Salt Lake City
Listed by Marcus & Millichap - Salt Lake City

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$410,979.00
$34,248.25/mo

Valuation Metrics

0
DSCR
7.47%
Cap Rate
7.47%
ROI

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Additional Information

Name
Thomas Shihadeh
License
REB.0019374
Brokerage
Marcus and Millichap
Brokerage Phone
6178967200
Title
Broker of Record
Brokerage Address
100 High St., Ste. 1025 Boston, MA 02110
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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