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INVESTMENT HIGHLIGHTS
Long-Term Net Lease | CVS is operating under a net lease with limited landlord responsibilities and over 11 years of base lease term remaining. This lease structure allows potential investors to acquire passive income investment asset with longterm cash flow.
19+ Year Historical Occupancy with Recent Lease Extension | CVS has occupied the site since 2005 and recently extended the term of their lease for an additional 15 years to expire in November of 2035, signifying a strong sales record and loyal customer base at this location. The 19+ years of occupancy, combined with the 15-year lease extension, provides for strong evidence of the tenant’s financial stability at the Property.
Best-in-Class Tenant with Investment Grade Credit | CVS Health Corporation (NYSE: CVS) is the nation’s premier health innovation company with 9,000+ retail locations, approximately 1,200 walk-in medical clinics, and 204 primary care medical clinics. The company currently holds an investment grade credit rating of BBB/Stable from Standard and Poor’s and reported FYE 12/31/2023 revenues of more than $357 billion, an 11% increase over 2022.
Large Parcel with Drive-Thru at Signalized Intersection | The Property is situated at the signalized intersection of Thomas Street (8,466+ VPD) and Allegheny Street (8,399+ VPD), two thruways that combine to see 16,800+ vehicles per day. Additionally, the parcel benefits from being over one acre of land at a busy intersection with two points of access into the site and a drive-thru, providing the real estate with long-term residual value.
Retail Corridor of Jersey Shore |The Property is located in a retail corridor of Jersey Shore that is home to many tenants who not only drive consumers into the trade area but also demonstrate the strength of the underlying real estate. Some nearby tenants of the site include: Weis Market, the Jersey Shore Public Library, Exxon, Dominos, and several locally owned establishments, among others.
Location near U.S. Route 220 |The Property is located just down the road from the on/off ramps for U.S. Route 220, a primary north-south thruway for the eastern United States that runs from Rockingham, North Carolina to South Waverly, Pennsylvania. The highway sees over 20,348 vehicles per day, and the Property’s positioning near its on/off ramps allows CVS to take full advantage of the travelers and commuters who pass through the area.
Limited Pharmacy Competition | This Property is the only national pharmacy within 10.5 miles. This has allowed the site to build a large customer base. This can be attributed to the store’s success and multiple lease extensions.
Exclusively Listed By
BJ Feller
Senior Vice President & Managing Director Contact Broker PA Broker #AB068695
