CVS

1334 Balltown Rd
Schenectady , NY 12309-5352

CVS - Retail for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a single-tenant, freestanding CVS (the Property, or Asset) in Niskayuna, New York. The Property was a build-to-suit for CVS in 2011 with a primary lease term of 25 years, leaving over 18 years remaining on the absolute triple-net lease with no rent holiday and five, five-year options to renew thereafter. Positioned within one of the most affluent pockets of the Albany-Schenectady-Troy market, the Asset benefits from over 11,000 residents boasting an average household income surpassing $117,000 within a one-mile radius. This Offering presents an outstanding opportunity for investors seeking a long term, high-yield investment with an investment grade guaranty on the lease.

Investment Highlights



• Absolute NNN lease with over 18 years remaining and no rent holiday


• Signalized intersection location with over 25,000 vehicles passing daily


• Investment grade guaranty (S&P: ‘BBB’)


• Affluent upstate NY trade area with a AHHI over $117,000


• Build-to-suit construction with 2 drive-thru lanes


• Proximate to Union College and other major traffic drivers

General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 1334 Balltown Rd, Schenectady, NY 12309-5352
Building Size 13,600  ft2
Financial
Price $9,000,000
Cap Rate 6.03%
Current NOI $542,640.00
Lease
Tenant's Name CVS Caremark Corporation
Guarantor CVS Caremark Corporation
Guarantor Credit Rating (S&P) BBB
Lease Type NNN
Lease Expiration Date 10/08/2036
Remaining Term 17.6Yrs

Presented By

Not available

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