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CVS 676 Southbridge St 10,125 SF Retail Building Auburn, MA 01501 $6,878,665 CAD ($679.37 CAD/SF) 6.75% Cap Rate

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Investment Highlights

Long Term Lease
Investment Grade Credit
Strategic Retail Location

Scheduled Rent Increases
Zero Management Responsibilities
Limited Competition

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant CVS investment property located at 676 Southbridge Street in Auburn, Massachusetts (the “Property”). The Property was originally constructed for CVS in 1997 with a 20-year, Triple Net (NNN) Lease; in 2004, CVS demonstrated a strong commitment to the site by modifying their lease to a full 25-year term that expires in 2029. There are currently 3+ years of term remaining on the lease followed by four (4), 5-year renewal options. The lease features attractive 6.0% rent increases at the start of each of the renewal options. CVS is strategically located along Southbridge Street in Auburn’s primary commercial corridor, situated at the signalized intersection with Faith Avenue and Goulding Drive, which provides strong visibility, frontage, and convenient access. The Property benefits from excellent regional connectivity, located near the interchange of Interstate 290 and the Massachusetts Turnpike (I-90), allowing for efficient access to Worcester, Boston, and surrounding Central Massachusetts communities. The surrounding retail environment is well established, with nearby national retailers and traffic generators including BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall, all of which contribute to consistent consumer traffic and sustained activity within the trade area.

Property Facts Under Contract

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

10,125 SF

Building Class

Year Built

1997

Price

$6,878,665 CAD

Price Per SF

$679.37 CAD

Cap Rate

6.75%

NOI

$464,310 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.18

Lot Size

1.32 AC

Frontage

161’ on Southbridge St

Bus Line
Freeway Visibility

Pylon Sign

Signage

Signalized Intersection

Major Tenants

Retailer
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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.