Property History
Atlantic Capital Partners is pleased to exclusively offer for sale the CVS located at 2005 Norwich-New London Turnpike in Montville, CT. The 13,325 SF building has been leased to CVS since it was built in 2008. The 25-Year Lease with CVS expires January 31, 2034 and includes six (6) five (5) year options. CVS is paying $370,300 with 5% increases at the start of every option period.
The CVS offering is located just minutes from the Mohegan Sun Casino, the 2nd largest casino in the United States. Mohegan Sun offers 364,000 SF of gaming space, multiple entertainment complexes, and draws over 7.6 million visitors annually
PROXIMITY TO MOHEGAN SUN CASINO - This asset is located minutes from Mohegan Sun, which draws 7.6M Visitors annually, and is the second largest casino in the United States.
25-YEAR LEASE TERM, BUMPS IN OPTIONS - CVS has a primary term through January 2034, with six 5-year option periods, including rent escalations at each option.
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANTS - CVS has a Market Cap of $86 Billion (NYSE: CVS) with over 9,500 locations across the country (S&P: BBB+)
EXCELLENT EXPOSURE ALONG MAIN THOROUGHFARE - Located on Route 32 (Norwich New London Turnpike) which sees 20,552 VPD
LONG OPERATING HISTORY - CVS has a long and successful history at this site since it signed its lease in 2008.
DOMINANT RETAIL CORRIDOR - The asset is centrally located near Montville Commons, home to National Retailers:
Home Depot (408.7K Visits in the last 12 Months) Stop & Shop (725.7K Visits in the last 12 Months)
It is an assemblage of 6 lots (same owner) with 2 houses on site – no leases. Extra land in rear available zone for parking lot.
PERMITTED USES: Retail, Service, Office, Restaurant, Drive-thru, Day Care…
BY SPECIAL PERMIT: Convenience Store / Gas Station, Mixed use…
DIRECTIONS: I-395 Exit 10 to Route 2A. Exit 5 to Route 32. Turn south onto Route 32 about 0.25 miles on left.
- Assemblage of 6 Lots (Same Owner)
- Ideal 1.8 Buildable Acres Retail Development Site Between CVS & Mcdonald’s
- Close Access to I-395 and Route 2
- About 1 Mile To Mohegan Sun
- Includes 2 Houses on-Site. No Leases
- Extra Land in Rear Available Zoned for Parking Lot
- Zone C-1 Commercial
- 17,000 Daily Average Traffic Count
- 224’ Road Frontage
- 8 Unit Strip Center
- High Visibility
- Minutes From Mohegan Sun
Loan History
Financial History
Tax History
Contact Information
Ownership Information
Property Details
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Map
Comparable Properties
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