CVS | Hamlin, PA | 657 Hamlin Hwy
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CVS | Hamlin, PA 657 Hamlin Hwy
8,100 SF Retail Building Lake Ariel, PA 18436 $3,470,000 ($428/SF) 7% Cap Rate
Investment Highlights
- CVS Health, corporate guarantor of this lease, is the only investment grade credit tenant pharmacy (BBB rating from Standard & Poor’s)
- The subject property has tremendous access and visibility at the signalized intersection of Hamlin Highway 10,240 VPD and Easton Turnpike 4,107 VPD
- The subject property is surrounded by many national retailers situated along Hamlin Highway
- This is a top-performing CVS location with a strong sales volume and substantial revenue generation
- CVS has been operating at this site since 1997 (27 yrs) and has a history of extending their lease multiple times after the original 15 year base term
- The site offers numerous redevelopment opportunities should the tenant ever vacate with CVS sitting on a large 2.04 acre parcel
Executive Summary
CBRE is offering for sale an 8,100 square foot CVS Pharmacy located at 657 Hamlin Highway in Hamlin, PA. CVS, a leading healthcare and retail provider with a BBB credit rating, operates over 9,100 locations and generated over $358 billion in 2023. This property, situated at a highly visible and accessible signalized intersection, benefits from daily traffic exceeding 10,000 vehicles. With a lease backed by CVS Health, the investment provides minimal landlord responsibilities and features 10% rental increases in the three five-year renewal options. CVS has been at this location since 1997, and the 2.04-acre site offers redevelopment potential if CVS vacates. Surrounded by national retailers and local businesses, the property is well-positioned in a strong retail corridor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,100 SF
Year Built
1997
Price
$3,470,000
Price Per SF
$428
Cap Rate
7%
NOI
$242,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
4.02 AC
Frontage
411 FT on Easton Turnpike
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- CVS Pharmacy
- Retailer
- -
- -
- Double Net
- Jan 2027
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| CVS Pharmacy | Retailer | - | - | Double Net | Jan 2027 |
PROPERTY TAXES
| Parcel Number | 039625 | Improvements Assessment | $882,700 |
| Land Assessment | $394,700 | Total Assessment | $1,277,400 |
PROPERTY TAXES
Parcel Number
039625
Land Assessment
$394,700
Improvements Assessment
$882,700
Total Assessment
$1,277,400
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CVS | Hamlin, PA | 657 Hamlin Hwy
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