CVS Absolute Bond Triple Net

| Somerset | NJ Back to Properties


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Property Details

  • Price: $11,442,127
  • Transaction Type: For Sale
  • Property Type: Retail
  • Building Size: 12,900 SF
  • Lot Size: 2.25 AC
  • Cap Rate: 5.50
  • Lease Term 15 years

Property Description

  • 6% Day one yield to the buyer with rent holiday credit
  • Last three years of the lease is prepaid
  • Bond absolute triple net lease with no landlord responsibilities whatsoever
  • Investment grade corporate guarantee
  • Wealthiest County in New Jersey
  • 30 miles southwest of New York City
  • 15 years remaining on bond absolute triple net lease
  • Eleven years of operating history at this store
  • Prominent hard-corner retail location within the submarket

HMX Realty Advisors exclusively lists for sale, in cooperation with Colliers International, a CVS Pharmacy located in the wealthiest county in New Jersey by per capita income. There are 15 years remaining on a bond absolute triple net lease with no landlord responsibilities whatsoever. The last three years of the lease is prepaid at closing making the day one yield to the investor 6%. Located at the signalized intersection of Elizabeth Avenue & School House Road in Somerset, New Jersey the property enjoys excellent visibility and traffic counts. Retailers in the immediate vicinity include Shop Rite, PetSmart, Rite Aid, Dollar Tree, Chase Bank, Wells Fargo, UPS, Subway, and Dunkin Donuts. There are currently over 163,000 residents within five miles of the property with an average household income of $118,239.

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Financial Summary (Actual - )

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