676 Southbridge St, Auburn, MA 01501 For Sale

LONG TERM LEASE: CVS has been at this location since it was constructed for them in 1997. Originally on a 20-year NN lease with a percentage rent clause; CVS modified their lease in 2004, recasting the lease to a full 25-year term, increasing the annual rent, converting the lease to NNN, and removing the percentage rent clause (CVS hit their natural breakpoint in each lease year through 2004), demonstrating their commitment to the site and the market. Additionally, CVS paid for a complete in- store renovation 2 years ago. CVS currently has 3+ years remaining with four (4), 5-year renewal options remaining.

SCHEDULED RENT INCREASES: The lease calls for attractive 6.0% rent increases at the start of each of the renewal options, providing a steady increase in income and an attractive hedge against inflation.

INVESTMENT GRADE CREDIT: CVS Health (NYSE: CVS) is a publicly traded company and the largest retail pharmacy in the country with over 9,000 locations. The company holds an investment grade credit rating of BBB (S&P) and BBB (Fitch) and reported 2025 revenues of over $402.1 billion, a 7.8% increase over 2024 revenues.

ZERO MANAGEMENT RESPONSIBILITIES: CVS operates under a Triple Net (NNN) Lease and requires zero management responsibilities. CVS is responsible for all operating expenses, repairs, maintenance, and replacements to the entire property, making it an attractive investment for the passive real estate investor.

STRATEGIC RETAIL LOCATION: The Property is situated at the signalized intersection of Southbridge Street with Faith Avenue and Goulding Drive along the area’s primary commercial corridor, benefiting from strong visibility, frontage, and convenient access in a well-established retail node. CVS is strategically located near the interchange of Interstate 290 and the Massachusetts Turnpike (I-90), providing excellent regional connectivity to Worcester, Boston, and surrounding Central Massachusetts communities. The immediate trade area features a strong concentration of national retailers and demand drivers, including BJ's Wholesale Club, Walmart Supercenter, and the nearby Auburn Mall, all of which generate consistent consumer traffic. The Property is also directly in the middle of Auburn’s Auto Mile, with numerous major brands that add to the traffic generated by the area’s retailers.

LIMITED COMPETITION: The closest CVS or Walgreens is more than 3 miles from the Property.

RETAIL TRADE AREA: Additional retailers driving traffic to the area include Walmart Supercenter, BJ’s Wholesale, Home Depot, TJ Maxx, Applebee’s, O’Reilly Auto Parts, Wendy’s, Dunkin’, Cumberland Farms, NAPA Auto Parts, Enterprise Rent-A-Car, Domino’s, Friendly’s, D’Angelo’s, Jiffy Lube, 99 Restaurant, Taco Bell/KFC, Chili’s, Burger King, as well as many popular retailers and brands at the Auburn Mall Mall.

TRAFFIC COUNTS: More than 25,700 vehicles per day pass CVS at the signalized intersection of Southbridge Street with Faith Avenue and Goulding Drive. The Property is next to the entry point of the I-90 and I-290 interchange, which see more than 102,100 and 80,100 vehicles per day, respectively.

DEMOGRAPHICS: Over 86,300 people live within a 5-mile radius of the Property with an average household income of $114,910. More than 364,100 people live within 10 miles of the Property with an average household income of $116,422.