CVS Pharmacy - Watertown, MA
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
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