Listed by SURMOUNT
$11,595,104
CVS Pharmacy
Details
Property Type Retail
Sub Type Drug store
Square Footage 13,013
Cap Rate 6.25%
NOI $724,694
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NN
Lease Term 25
Lease Expiration 01/31/2039
Remaining Term 12
Rent Bumps Yes
Lease Options 6, 5-Year Options
Year Built 2013
Acreage 2.050
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/30/2013
Ground Lease No
Ownership Fee Simple
About This Property for Sale
Marketing description
Surmount is pleased to present the exclusive listing for a CVS Pharmacy located at 891 Main Street, Woburn, MA 01801. The site consists of roughly 13,013 rentable square feet of building space on an estimated 2.05-acre parcel of land. CVS Pharmacy is subject to a 25.35-year Double Net (NN) lease, which commenced 9/30/2013. The current annual rent is $724,694 and has scheduled increases of 10.00% Every First Options, 5.00% Every Last Options.
Investment highlights
- Investment Grade - Corporate Guarantee | The lease is backed by a full corporate guarantee from CVS Health Corporation (NYSE: CVS), rated BBB by S&P, Baa3 by Moody's, and BBB by Fitch — providing investors with institutional-grade credit security on every rent payment.
- High-Traffic Main Street Corridor | +24,000 Vehicles Per Day | CVS occupies a highly visible signalized corner at the intersection of Main Street and a major commercial corridor, benefiting from excellent accessibility, multiple points of ingress and egress, and continuous exposure to more than 24,000 vehicles per day. Corner pharmacy locations with this level of visibility remain among the most desirable retail sites for national tenants.
- $156,000+ Average Household Income | Located within one of Greater Boston's most affluent trade areas, the property benefits from an average household income exceeding $156,000 within the surrounding market, providing CVS with a highly educated, affluent consumer base that supports strong prescription volume and front-store sales.
- Established National Retail Corridor | The property is strategically positioned within Woburn's primary retail corridor, surrounded by a dominant mix of national retailers and daily-needs destinations including Target, Market Basket, Stop & Shop, Walgreens, Starbucks, McDonald's, Dunkin', Planet Fitness, Citizens, and Bank of America. This critical mass of national tenancy generates consistent consumer traffic, reinforces the corridor as a regional shopping destination, and provides CVS with exceptional retail synergy and long-term location stability.
- Strong Consumer Spending Fundamentals | The surrounding trade area combines high household incomes with dense residential development and significant daytime employment, creating consistent demand for necessity-based retailers. Woburn generates more than $1.2 billion in annual retail sales, demonstrating the depth of consumer spending within the market.
- Affluent Greater Boston Community | Located within the highly sought-after Boston MSA, one of the nation's strongest and most supply-constrained real estate markets, the property benefits from exceptional long-term real estate fundamentals driven by affluent demographics, limited development opportunities, and sustained demand from residents, employers, and retailers.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$724,694.00
$60,391.17/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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