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CVS | NYSE: CVS | Abs NNN Leasehold 2311 Hanover Pike 13,137 SF Retail Building Hampstead, MD 21074 $3,561,964 CAD ($271.14 CAD/SF) 9.50% Cap Rate

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Investment Highlights

Corporate Guaranteed (NYSE: CVS) Building Lease | Options To Extend | Guaranteed Ground Lease Assigned
Outparcel to Hampstead Marketplace | Along Primary Commercial Corridor | Lack of Competition

Absolute NNN | Leasehold Ownership | Zero Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area

Executive Summary

SRS National Net Lease is pleased to present the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN-leased CVS Zero Cash Flow investment property located in Hampstead, Maryland. The property is leased to CVS (NYSE: CVS) under a 25-year absolute NNN lease with approximately eight (8) years remaining and four (4) five-year options to extend, the latter two of which are at fair market rent—underscoring the tenant’s long-term commitment to this location. The absolute NNN structure features zero landlord responsibilities, creating a truly management-free investment that is especially attractive to out-of-state or passive investors. The building is subject to a 24-year ground lease, also with approximately eight (8) years remaining and four (4) five-year options to renew. Importantly, the ground lease has been assigned to CVS, further minimizing ongoing obligations and day-to-day management for the leasehold owner.

Property Facts

Sale Type

Investment NNN

Sale Condition

Ground Lease (Leasehold)

Property Type

Retail

Property Subtype

Drug Store

Building Size

13,137 SF

Building Class

Year Built

2007

Price

$3,561,964 CAD

Price Per SF

$271.14 CAD

Cap Rate

9.50%

NOI

$338,406 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.18

Lot Size

1.68 AC

Zoning

General Business

Parking

88 Spaces (6.7 Spaces per 1,000 SF Leased)

Frontage

122’ on Hanover Pike

Corner Lot
Pylon Sign

Signage

Signalized Intersection

Drive Thru

Retailer
99,999 SF
-
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CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, and the CVS name followed the next year. Pharmacies were added to CVS stores in Cranston, Rhode Island, and the business later became part of CVS Health, which expanded the enterprise into retail pharmacy, prescription benefits, and related health services. CVS Pharmacy operates as a retail pharmacy chain with neighborhood, mail-order, and specialty pharmacy services, plus prescription delivery and savings support. The company sells over-the-counter medicines, beauty products, seasonal merchandise, and convenience foods, and offers in-store and virtual care through MinuteClinic and related services.