CVS Shirley, NY

Property Price: $4,350,000
Property Status: Available
Property Type: Retail
Cap Rate: 7%
Lease Type: Leasehold
Tenant Type: Single Tenant
NOI: $304,531
Building Size: 11,356
Land Area: 1.47
Remaining Term: 12
Expenses: NNN

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Landes Fairmount is pleased to offer for sale this CVS leasehold interest located at the southeast corner of southwest corner of Montauk Hwy and Garden Pl, in Shirley, NY. The existing 11,356 square foot freestanding single-tenant building is leased to CVS Pharmacy Inc. on a corporate guaranteed long-term twenty-five (25) year Absolute NNN Leasehold Interest with twelve (12) years remaining on the initial lease term. CVS has four (4) renewal options after the initial lease period.

Investment Highlights: 11,970 SF Absolute NNN Leasehold. Corporate Guaranteed CVS Pharmacy Inc (NYSE: CVS; S&P BBB+ Stable) with 25 year initial term. CVS Caremark is the second Largest Pharmacy Health Care Provider in the US. CVS Pharmacy has filled or managed 1.7 billion prescriptions annually since 2008.

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Agent Contact Information

Justin Grissen
Managing Director

Austin Landes
Investment Advisor

Caleb Landes
Investment Advisor