For Sale
$3,778,892

290 Pottstown AvePennsburg, PA 18073

High-yield CVS Pharmacy, Pennsburg, PA

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 12,870-square-foot CVS Pharmacy located at 290 Pottstown Avenue, Pennsburg, Pennsylvania, 18073. The property sits on a 1.91-acre lot and is a single-story building constructed in 2006. Currently operating under a Net Lease (NNN) agreement with a corporate guarantee from CVS Health, this investment boasts a strong 13.00% cap rate and a substantial net operating income (NOI) of $491,256. The lease commenced March 1st, 2006, and extends until January 31st, 2031, with ten (10) five-year renewal options. The property enjoys 100% occupancy and benefits from its strategic location on Pottstown Avenue, a major thoroughfare with approximately 11,000 vehicles passing daily. This prime location is surrounded by other national retailers, including Weis Markets, McDonald's, and Burger King. The property is zoned LIC and serves a strong demographic area with 32,948 people within a 5-mile radius and an average household income of $125,665. This is the only major retail drug store within a 7.5-mile radius, minimizing direct competition. The investment is further strengthened by the tenant's investment-grade credit rating (BBB from Standard & Poor's). This is a rare opportunity to acquire a high-performing, low-maintenance, net-leased property with a long-term, secure tenant.

Highlights

  • Investment-grade corporate guarantee from CVS Health (BBB S&P rating).
  • High-visibility location on Pottstown Avenue, a major Pennsburg thoroughfare.
  • Dominant market position: Only major retail drugstore within a 7.5-mile radius.
  • Excellent demographics: 32,948 residents within 5 miles, $125,665 average household income.

Property Details for 290 Pottstown Ave

Property type
Retail properties, Drug stores
Square Feet
12,870 SF
Year Built
2006
Buildings
1
Stories
1
Lot Size (sq. ft)
83,200 SF
Units
1

Location Insight

City
Pennsburg
County
Montgomery
State
Pennsylvania
Latitude
40.395021843871
Longitude
-75.500112910198
290 Pottstown Ave, Pennsburg, Pennsylvania

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290 Pottstown Ave
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