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    CVS Pharmacy
    $4,075,000
    Plus Hagerstown, MD
    Offering Memorandum
    Lease Type
    NN
    Cap Rate
    5.30%
    Property Type

    Retail

    Building Size
    10,125 SF
    NOI
    $216,000
    Land Area
    0.13 AC
    Remaining Term
    19.5 Years
    Status
    Under Contract
    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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