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CVS - Montville, CT 2005 Norwich New London Tpke 13,325 SF Retail Building Uncasville, CT 06382 $6,909,693 CAD ($518.55 CAD/SF) 7.30% Cap Rate
Investment Highlights
- TWENTY-FIVE YEAR LEASE
- EXCELLENT EXPOSURE ALONG MAIN THOROUGHFAR
- LONG OPERATING HISTORY
- CORPORATE GUARANTY FROM INVESTMENT GRADE TENANTS
- PROXIMITY TO MOHEGAN SUN CASINO
- DOMINANT RETAIL CORRIDOR
Executive Summary
Atlantic Capital Partners is pleased to exclusively offer for sale the CVS located at 2005 Norwich-New London Turnpike in Montville, CT. The 13,325 SF building has been leased to CVS since it was built in 2008. The 25-Year Lease with CVS expires January 31, 2034 and includes six (6) five (5) year options. CVS is paying $370,300 with 5% increases at the start of every option period. The CVS offering is located just minutes from the Mohegan Sun Casino, the 2nd largest casino in the United States. Mohegan Sun offers 364,000 SF of gaming space, multiple entertainment complexes, and draws over 7.6 million visitors annually.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
13,325 SF
Building Class
B
Year Built
2008
Price
$6,909,693 CAD
Price Per SF
$518.55 CAD
Cap Rate
7.30%
NOI
$504,408 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
3.30 AC
Zoning
C-1
Parking
73 Spaces (5.47 Spaces per 1,000 SF Leased)
Frontage
107’ on Norwich New London Tpke
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $37.85 CAD
- Triple Net
- Nov 2033
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $37.85 CAD | Triple Net | Nov 2033 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | MONT-000099-000059 | Improvements Assessment | $2,864,636 CAD |
| Land Assessment | $850,056 CAD | Total Assessment | $3,714,692 CAD |
Property Taxes
Parcel Number
MONT-000099-000059
Land Assessment
$850,056 CAD
Improvements Assessment
$2,864,636 CAD
Total Assessment
$3,714,692 CAD
Contacts
-
Eric Suffoletto -
Danny Griffin -
Jack Lyman -
Kendra Doherty -
Atlantic Capital Partners
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CVS - Montville, CT | 2005 Norwich New London Tpke
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