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CVS Pharmacy
$4,320,000
Plus Hagerstown, MD
Offering Memorandum
Lease Type
NN
Cap Rate
5.00%
Property Type

Retail

Building Size
10,125 SF
NOI
$216,000
Land Area
0.13 AC
Remaining Term
19.5 Years
Status
Active
Michael Zimmerman
Michael Zimmerman
Founder
Property Highlights
Prime Investment Opportunity

This corporate-guaranteed CVS Pharmacy property features a NN lease that was recently extended by the tenant for an additional 20 years. There is a 13 percent rental increase within the first option period. Additionally, each of the three remaining option periods feature three percent rental increases. CVS Pharmacy has been in place at this location since 1998. This signals a strong commitment to the site and the greater Hagerstown community.

Located Within a Major Retail Corridor

Hagerstown and Washington County as a whole boast one of the highest densities of retail in the country. This CVS Pharmacy sits at a prominent signalized intersection near two of the area’s major shopping destinations: Hagerstown Premium Outlets and Valley Mall. Nearby retailers include Columbia, The North Face, Coach, Brooks Brothers, Kohl’s, Walmart, Lowe’s, Ross Dress For Less and more.

Fast-Growing Metropolitan Area

Washington County is home to one of the fastest-growing metropolitan areas in the country. More than 96,000 people live within five miles of this CVS Pharmacy location. A total of 269,000 people live within Washington County proper. The area includes a labor force of 400,000 highly-skilled workers at the crossroads of the Mid-Atlantic corridor. Also, this region is just 75 miles from the Baltimore and Washington, D.C. metropolitan markets.

CVS Pharmacy
Hagerstown, MD
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