CVS | TOP 15% NATIONWIDE | 16+ YEAR LEASE 100 Lake Blvd 10,402 SF Retail Building Mahopac, NY 10541 $3,180,000 ($305.71/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 16+ Year Corporate Backed Lease Featuring 5% Rental Increases at Each Option. 32 Year Historical Occupancy as a Drug Store.
- Strong Tenant - CVS Health (NYSE: CVS) features a S&P Investment Grade Credit Rating of “BBB” and is Ranked #6 on the Fortune 500 List.
- Strong Performing Location: has been Operating as a Drugstore for more than 30 Years, with CVS previously reporting Sales Consistently North of $15M.
- Strong Commitment to the Location: CVS Exercised Multiple Options and Recently Extended the Term 18+ Years in 2021.
- Located Adjacent to Lake Mahopac - this Prime Spot benefits from Stunning Waterfront Views and Steady Foot Traffic, attracting Locals and Visitors.
- Top 15% in the Chain per Placer.ai.
EXECUTIVE SUMMARY
CVS Pharmacy | 16+ Year Lease | Top 15% in the Chain per Placer.ai | Signalized Hard Corner Location w/ three Points of Access | Along U.S. Route 6 | Affluent Area: $157k+ HHI - One of the most Affluent Communities in the State of New York | Adjacent to Lake Mahopac | Minutes from Putnam Hospital | Near Numerous Schools
New York Broker of Record: John Horowitz | 260 Madison Ave., 5th Floor New York, NY 10016 | P: 212-430-5261 | Lic.# 10311204479 | John.Horowitz@MarcusMillichap.com
New York Broker of Record: John Horowitz | 260 Madison Ave., 5th Floor New York, NY 10016 | P: 212-430-5261 | Lic.# 10311204479 | John.Horowitz@MarcusMillichap.com
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,402 SF
Building Class
C
Year Built/Renovated
1970/1992
Price
$3,180,000
Price Per SF
$305.71
Cap Rate
6%
NOI
$190,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.00 AC
Zoning
C
Parking
50 Spaces (4.8 Spaces per 1,000 SF Leased)
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 372000-076-030-0001-023-000-0000 | Improvements Assessment | $863,000 |
| Land Assessment | $525,000 | Total Assessment | $1,388,000 |
