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CVS & Sakonnet River Grille 500 Main Rd 17,950 SF 100% Leased Retail Building Tiverton, RI 02878 $12,120,484 CAD ($675.24 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
$12,120,484 CAD
Price Per SF
$675.24 CAD
Cap Rate
6.71%
NOI
$813,778 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 Pharmacy began in 1963 in Lowell, Massachusetts, as a health and beauty product retailer. The company expanded into pharmacy services in 1967 and grew through acquisitions to become a national healthcare provider. Today, CVS operates numerous retail pharmacy locations and walk-in clinics across the United States. The company also offers pharmacy benefit management services and health insurance products through various subsidiaries. CVS has established a significant presence in the healthcare sector by integrating retail, clinical, and insurance services.

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
$1,367,139 CAD
Improvements Assessment
$4,024,464 CAD
Total Assessment
$5,391,603 CAD
  • Listing ID: 38570369

  • Date on Market: 2025-11-25

  • Last Updated:

  • Address: 500 Main Rd, Tiverton, RI 02878

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