CVS | 125 W Washington Ave
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CVS 125 W Washington Ave
10,436 SF Retail Building Chambersburg, PA 17201 $2,402,314 ($230/SF) 7% Cap Rate
Investment Highlights
- CVS Has Operated Here Since 1999 – Signed a Long-Term, 15-Year Lease Extension in 2017
- Rare Low Rent Site with Increases Every Five Years of 7.50% | Next Increase is in 2027
- Located in Front of a Massive Medical Redevelopment
- Tenant is Paying a Low Rent Relative to Other CVS Sites and the Local Market
- Corporate Guarantee from CVS Corporation (NYSE: CVS) – S&P: BBB+
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for the CVS Pharmacy located at 125 W Washington Street in Chambersburg, PA. The site consists of 10,125 rentable square feet of building space on an estimated 0.81-acre parcel of land. This property is subject to a 15-year lease, with the current annual rent being $176,662.
*The Landlord currently leases the neighboring parking lot from the Borough of
Chambersburg for a monthly expense of $708.33 which has been deducted from the Rent to arrive at a final NOI. There are no landlord maintenance responsibilities, and the additional parking is not required in the lease to CVS. The lease expires on
3/24/2029, with CPI increases every 3 years.
*The Landlord currently leases the neighboring parking lot from the Borough of
Chambersburg for a monthly expense of $708.33 which has been deducted from the Rent to arrive at a final NOI. There are no landlord maintenance responsibilities, and the additional parking is not required in the lease to CVS. The lease expires on
3/24/2029, with CPI increases every 3 years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,436 SF
Building Class
B
Year Built
1999
Price
$2,402,314
Price Per SF
$230
Cap Rate
7%
NOI
$168,162
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
0.81 AC
Parking
32 Spaces (3.07 Spaces per 1,000 SF Leased)
Frontage
119 FT on South Water Street
Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (86)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 05-1D08-002A-000000 | Improvements Assessment | $89,650 |
| Land Assessment | $8,110 | Total Assessment | $97,760 |
PROPERTY TAXES
Parcel Number
05-1D08-002A-000000
Land Assessment
$8,110
Improvements Assessment
$89,650
Total Assessment
$97,760
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CVS | 125 W Washington Ave
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