657 Hamlin Hwy - Drug Store FOR SALE


Lake Ariel, PA 18436
$3,240,000 USD
215-603-6914
657 Hamlin Hwy, Lake Ariel, PA for Sale
$3,240,000 USD
Drug Store - FOR SALE
1/5
null | 7.5% Cap Rate

657 Hamlin Hwy
Lake Ariel, PA 18436


HIGHLIGHTS

  • CVS Health, corporate guarantor of this lease, is the only investment grade credit tenant pharmacy (BBB rating from Standard & Poor’s)
  • This is a top-performing CVS location with a strong sales volume and substantial revenue generation
  • The subject property has tremendous access and visibility at the signalized intersection of Hamlin Highway 10,240 VPD and Easton Turnpike 4,107 VPD
  • CVS has been operating at this site since 1997 (27 yrs) and has a history of extending their lease multiple times after the original 15 year base term
  • The subject property is surrounded by many national retailers situated along Hamlin Highway
  • The site offers numerous redevelopment opportunities should the tenant ever vacate with CVS sitting on a large 2.04 acre parcel

OVERVIEW

CBRE is offering for sale an 8,100 square foot CVS Pharmacy located at 657 Hamlin Highway in Hamlin, PA. CVS, a leading healthcare and retail provider with a BBB credit rating, operates over 9,100 locations and generated over $358 billion in 2023. This property, situated at a highly visible and accessible signalized intersection, benefits from daily traffic exceeding 10,000 vehicles. With a lease backed by CVS Health, the investment provides minimal landlord responsibilities and features 10% rental increases in the three five-year renewal options. CVS has been at this location since 1997, and the 2.04-acre site offers redevelopment potential if CVS vacates. Surrounded by national retailers and local businesses, the property is well-positioned in a strong retail corridor.

FOR SALE DETAILS

PRICE

$3,240,000 USD

PRICE/SF

$400 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS | Hamlin, PA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.02 AC

LAND SF

175,111 SF

ZONING

-

APN/PARCEL ID

039625

ASK ABOUT THIS PROPERTY

Matthew GormanCBRE, Inc.More Info
215-603-6914

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Matthew GormanCBRE, Inc.More Info
215-603-6914

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