657 Hamlin HwyLake Ariel, PA 18427
- Retail properties
- 8,100 SF
Property Details for 657 Hamlin Hwy
- Lot size
- 2.04 AC
- Property size (Sq ft)
- 8,100 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a fee-simple, net-leased 8,100 square foot CVS Pharmacy located at 657 Hamlin Hwy, Hamlin, PA 18427. The property sits on a 2.04-acre lot and boasts a 7.00% cap rate with a strong NOI of $243,000. The current lease, with CVS Pharmacy (a corporate guaranteed tenant), has a remaining term of 2.2 years, followed by three 5-year renewal options with 10% rental increases each. The lease commenced July 1, 1996, and expires January 31, 2027. The asking price is $3,470,000, translating to a price per square foot of $428.40. This prime retail location benefits from high visibility at a signalized intersection with daily traffic exceeding 10,000 vehicles. The property is surrounded by other national retailers and local businesses, ensuring a strong retail environment. The substantial lot size offers significant redevelopment potential should the tenant vacate. This investment provides a passive ownership opportunity with minimal landlord responsibilities, making it an attractive addition to any portfolio. The tenant, CVS Pharmacy, is a leading healthcare and retail provider with a strong financial history. This is a top-performing CVS location with a proven track record of success.
Location Insight
- City
- Lake Ariel
- County
- Wayne
- State
- Pennsylvania
- Latitude
- 41.4038
- Longitude
- -75.3972
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