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32748194
32748182

27 Main Street, Watertown, MA 02472

AG
IL IL: #475.189621
JLL - New York City, New York
JLL - Boston, Massachusetts
Listed by JLL - New York City, New York, JLL - Boston, Massachusetts
$12,113,000
23 days on market
Updated 2 days ago

CVS Pharmacy - Watertown, MA

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 12,113
Cap Rate 6.00%
NOI $726,780
Tenancy Single
Brand/Tenant CVS Pharmacy
Rent Bumps Yes
Price per SqFt $60
Class B
Acreage 0.410
Ground Lease No

About This Property

Marketing description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire CVS

Pharmacy, located at 27 Main St, Watertown, MA 02472 (the “Property” or “Asset”). The

tenant operates under an absolute NNN lease with a corporate guaranty and over 10

years of primary term remaining with zero management responsibility.

CVS Pharmacy, Inc. (NYSE: CVS; S&P: BBB) is a leading healthcare services and retail

pharmacy chain headquartered in the United States. CVS operates a nationwide network

serving millions of customers through pharmacy benefit management, retail pharmacy

locations, and a range of health services. With approximately $405.6 billion in TTM March 2026

revenue, over 300,000 employees, and more than 9,000 stores, CVS maintains a significant

presence in the healthcare and retail pharmacy sectors. CVS continues to leverage its

integrated platform and distribution capabilities, positioning itself as one of the largest and

most diversified healthcare service providers and pharmacy retailers in North America.

CVS sits on a 0.4-acre site in the heart of Watertown’s main transportation corridor and is

strategically positioned just 8-miles west of Boston, MA. Located at the corner of Main Street

(24,800+ VPD) and Merchants Row, the Asset receives unique visibility from multiple roadways

including the hard-corner, signalized intersection of Pleasant Street, which provides

connectivity to Galen St and subsequently I-90, accommodating a combined 167,000

vehicles per day.

This location benefits from being in one of Boston’s fastest growing areas. The immediate

vicinity is densely populated, with over 658,000 residents within a five-mile radius that has

grown by 8.0% since 2010. Within that same area, there are more than 267,000 households

with an average income exceeding $189,000, reflecting the city's ongoing appeal and strong

development momentum.

This offering presents investors with an exceptional opportunity to acquire an asset

providing secure, long-term cash flow, backed by a leading investment-grade tenant.

Investment highlights

  • Investment Grade Tenancy (S&P: BBB)
  • ± 10.5 Year Absolute NNN Lease with Zero Landlord Responsibilities
  • $189K Average Household Income Within a 5-Mile Radius
  • 8.33% Rent Increase on 2/1/2032
  • 13% Population Growth Within a One-mile Radius
  • Prime Visibility to 56K+ VPD from Main St with Connectivity to Galen St

Listing Contacts

AG
IL IL: #475.189621
JLL - New York City, New York
JLL - Boston, Massachusetts
Listed by JLL - New York City, New York, JLL - Boston, Massachusetts

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$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$726,780.00
$60,565.00/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

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