Embed Size (px)
Citation preview
Phone: 212.972.7457 Fax: 212.686.0078 [email protected] www.exp1031.com
Price: $4,553,000 | NOI: $214,000 | CAP: 4.70%
CVS Pharmacy
Ground Lease
26 Davis Street – Watertown, CT
New Absolute Triple Net Lease | Ground Lease Fee
New construction (2013) – Relocation Store
20+ year operating history in the immediate area
At signalized intersection
CVS Corp Guarantee | Investment Grade Tenant
Low rent deal | 10% Increase in first option
Representative Photo Actual property
This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
INVESTMENT OVERVIEW
Whisper Valley Ranch
Investment Overview
This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Ground Lease
Investment Overview
PROPERTY OVERVIEW: EXP Realty Advisors exclusively presents for sale this new CVS in Watertown, CT. The property is located on 1.70 acres of land on which CVS constructed a new 12,900 sf store. CVS moved to this location from an existing, inline location with very strong sales which had been open for over 20 years. This new site is at the signalized intersection of Main St and Davis St which has average daily traffic counts of 16,000+ vpd. The property is next to Swift Middle School and Watertown High School. LOCATION OVERVIEW: Watertown is a town in Litchfield County, CT and is a suburb of Waterbury. Watertown borders the towns of Woodbury, Middlebury, Litchfield, Plymouth, Bethlehem, and Thomaston. Watertown is approximately 30 miles south west of Hartford and 30 miles north west of New Haven. State and federal roads connect Watertown to surrounding towns and more distant areas of the State. US Route 6 crosses through the center of Watertown. Route 262 connects to Route 8 which is a multi-lane north-south highway. Route 6 intersects with Route 63, which intersects with Interstate 84. The connections link Watertown with Danbury, Hartford and areas along the Massachusetts Turnpike. LEASE SUMMARY: Rent Commencement: September 2013 Lease Expiration: September 2038 Current Rent: $214,000 ($16 psf) Options: Five, (5) year options Options Escalations: 10% in the first option and 5% for the remaining 4 options Lease Type: Absolute triple net ground lease with no Landlord responsibilities TENANT OVERVIEW: CVS Caremark Corporation (NYSE: CVS | S&P: BBB+): CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services As of December 31, 2015, operates 9,655 retail stores in 49 states, the District of Columbia, Puerto Rico, and Brazil primarily under the CVS Pharmacy, CVS, Longs Drugs, Navarro Discount Pharmacy, and Drogaria Onofre names; online retail pharmacy Websites; and 32 onsite pharmacy stores, long-term care pharmacy operations, and retail health care clinics. It operated 11 specialty mail order pharmacies and 5 mail order dispensing pharmacies, and 83 branches for infusion and enteral services. The Retail/LTC segment sells prescription drugs, over-the-counter drugs, beauty products and cosmetics, personal care products, convenience foods, seasonal merchandise, and greeting cards, as well as provides photo finishing services. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was founded in 1892 and is headquartered in Woonsocket, RI.
INVESTMENT SUMMARY
Price: $4,553,000
CAP Rate: 4.70%
NNN Rent: $214,000
Bld. Sq Ft: 12,900 sf
Land Size: 1.70 acres
Lease Type: Fee Simple
Absolute Triple Net
Whisper Valley Ranch
Area History
SITE PLAN This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Ground Lease
Site Plan
Whisper Valley Ranch
Area History
AERIAL This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Ground Lease
Aerial
Whisper Valley Ranch
Area History
AERIAL This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Ground Lease
Aerial
Whisper Valley Ranch
Property Line Map
CVS Ground Lease
Location Map
LOCATION MAP This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
DEMOGRAPHIC DATA This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Ground Lease
Demographic Data
Contact Us
EXP Realty Advisors 118 East 28th Street
Suite #901 New York, NY 10016 www.exp1031.com
Our Team
Daniel de Sa‘
Director of Sales Phone: (212) 972-3947
E-mail: [email protected]
Robert P. James President
In association with
Connecticut RE License: REB.0789853
Radius 1 Mile 3 Mile 5 Mile
Population:
2016 Projection 11,351 51,778 121,900
2011 Estimate 11,224 52,063 122,185
2010 Census 11,193 52,365 123,051
Growth 2011-2016 1.10% -0.50% -0.20%
Growth 2010-2011 0.30% -0.60% -0.70%
2011 Population By Hispanic Origin 1,155 9,922 30,111
2011 Population by Race:
White 9,558 38,333 82,386
Black or African American 739 6,633 18,855
American Indian and Alaska Native 34 213 610
Asian 187 857 2,095
Native Hawaiian and Pacific Islander 1 9 36
Other Race 449 4,298 13,655
Two or More Races 256 1,719 4,549
2011 Households:
2016 Projection 4,392 19,629 46,704
2011 Estimate 4,315 19,684 46,906
2010 Census 4,301 19,783 47,256
Growth 2011-2016 1.80% -0.30% -0.40%
Growth 2010-2011 0.30% -0.50% -0.70%
Owner Occupied 2,937 12,654 26,233
Renter Occupied 1,379 7,029 20,673
2011 Avg Household Income $68,959 $71,904 $64,693
2011 Med Household Income $56,882 $55,413 $47,860
2011 Per Capita Income $27,155 $27,410 $25,159
2011 Households by Household Inc:
Income Less than $15,000 422 2,482 7,833
Income $15,000 - $24,999 391 1,850 5,289
Income $25,000 - $34,999 374 1,736 4,696
Income $35,000 - $49,999 645 2,700 6,330
Income $50,000 - $74,999 888 3,661 8,211
Income $75,000 - $99,999 714 2,538 5,437
Income $100,000 - $149,999 646 3,086 5,733
Income $150,000 - $199,999 174 1,084 2,115
Income $200,000+ 62 547 1,261
