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CVS & Sakonnet River Grille 500 Main Rd 17,950 SF 100% Leased Retail Building Tiverton, RI 02878 $12,347,719 CAD ($687.90 CAD/SF) 6.71% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Long-Term Leases
  • Net Leases
  • Prime Retail Location
  • Scheduled Rent Increases
  • Investment Grade Anchor
  • Strong Demographics

EXECUTIVE SUMMARY

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a CVS and Sakonnet River Grille located at 500-524 Main Road in Tiverton, Rhode Island (the “Property”). The Property is comprised of two single-tenant buildings on a 3.34-acre corner parcel of land. CVS exercised their first renewal option 10 years early, demonstrating their commitment to the site and the market and has 14+ years remaining on their Lease with five (5), 5-year renewal options. Sakonnet River Grille has been at this location since 2022 and has 6+ years remaining on their Lease with one (1), 5-year renewal option. The CVS Lease calls for attractive rent increases every 5 years throughout the primary lease terms and in the renewal option periods, and Sakonnet River Grille has a rent increase at the start of their renewal option. CVS & Sakonnet River Grille are well located at the intersection of Briarwood Avenue and Main Road (RI Route 138), the area’s primary commercial and commuter corridor in the North End of Tiverton. The Property is adjacent to Tom’s Market (grocery store) and Dunkin’ and is surrounded by densely populated residential neighborhoods that provide a built-in customer base. The Property is 1.5 miles from the Fall River Expressway (RI Route 24) and 3.5 miles from Downtown Fall River and Bally’s Tiverton.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
17,950 SF
Building Class
B
Year Built/Renovated
1954/2009
Price
$12,347,719 CAD
Price Per SF
$687.90 CAD
Cap Rate
6.71%
NOI
$829,034 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
3.34 AC
Zoning
GC
Frontage
93’ on Briarwood Ave

AMENITIES

  • Bus Line
  • Drive Thru

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • -
  • -
  • Triple Net
  • Jan 2040

CVS Health construit un monde de santé autour de chaque consommateur. Leur portée inégalée leur permet d'offrir des soins de santé abordables et de haute qualité au moment et de la manière dont les individus le souhaitent. Ils ont pour mission d'offrir des expériences supérieures et plus connectées, de réduire le coût des soins et d'améliorer la santé et le bien-être des personnes qu'ils servent. En tant que chef de file dans le domaine des solutions de santé, elle offre de multiples canaux d'accès aux soins de santé à l'échelle locale et nationale. Leur forte présence communautaire, leur approche avant-garDISTE et leur engagement inégalé auprès de millions de personnes leur permettent de fournir des soins de santé de haute qualité, personnalisés et abordables. Guidé par son objectif, CVS Health® construit un monde entier de soins de santé autour de chaque personne qu'elle sert, peu importe où elle se trouve dans son parcours. Ils écoutent, font preuve d'empathie et offrent des solutions novatrices qui répondent aux besoins uniques des gens et gagnent leur fidélité. Parce que la façon dont ils fournissent leurs services est tout aussi importante que ce qu'ils fournissent.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer - - Triple Net Jan 2040

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
TIVE-000112-000000-000396
Land Assessment
$1,370,275 CAD
Improvements Assessment
$4,033,696 CAD
Total Assessment
$5,403,971 CAD
  • Listing ID: 38570369

  • Date on Market: 2025-11-25

  • Last Updated:

  • Address: 500 Main Rd, Tiverton, RI 02878

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