125 W Washington Ave - Drug Store FOR SALE


Chambersburg, PA 17201
$2,319,475 USD
332-345-4222
125 W Washington Ave, Chambersburg, PA for Sale
$2,319,475 USD
Drug Store - FOR SALE
1/2
null | 7.25% Cap Rate

125 W Washington Ave
Chambersburg, PA 17201


HIGHLIGHTS

  • CVS Has Operated Here Since 1999 – Signed a Long-Term, 15-Year Lease Extension in 2017
  • Tenant is Paying a Low Rent Relative to Other CVS Sites and the Local Market
  • Rare Low Rent Site with Increases Every Five Years of 7.50% | Next Increase is in 2027
  • Corporate Guarantee from CVS Corporation (NYSE: CVS) – S&P: BBB+
  • Located in Front of a Massive Medical Redevelopment

OVERVIEW

NNN Pro Group is pleased to present the exclusive listing for the CVS Pharmacy located at 125 W Washington Street in Chambersburg, PA. The site consists of 10,125 rentable square feet of building space on an estimated 0.81-acre parcel of land. This property is subject to a 15-year lease, with the current annual rent being $176,662. *The Landlord currently leases the neighboring parking lot from the Borough of Chambersburg for a monthly expense of $708.33 which has been deducted from the Rent to arrive at a final NOI. There are no landlord maintenance responsibilities, and the additional parking is not required in the lease to CVS. The lease expires on 3/24/2029, with CPI increases every 3 years.

FOR SALE DETAILS

PRICE

$2,319,475 USD

PRICE/SF

$229 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

-

APN/PARCEL ID

05-1D08-002A-000000

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.