39820 Hickman Plaza Rd - Drug Store FOR SALE


Bethany Beach, DE 19930
$1,585,915 USD
918-494-2690
39820 Hickman Plaza Rd, Bethany Beach, DE for Sale
$1,585,915 USD
Drug Store - FOR SALE
1/9
null | Request Cap Rate

39820 Hickman Plaza Rd
Bethany Beach, DE 19930


HIGHLIGHTS

  • Absolute NNN lease with no landlord responsibilities and a term remaining of approximately 9.7 years.
  • Guaranteed by CVS Health Corporation (NYSE: CVS), a national market leader with over $372 billion in revenue.
  • Strategic coastal location adjacent to Sea Colony and Delaware Route 1 with visibility to over 33,000 VPD.
  • Affluent demographics—average household income over $124,000 within five miles.
  • Drive-thru feature providing additional convenience and consumer draw in a resort-driven market.
  • Zero cash flow structure ideal for tax-deferred 1031/1033 exchange buyers or investors seeking depreciation.

OVERVIEW

This investment offering provides the opportunity to acquire a leasehold position in a CVS Pharmacy located in the sought-after resort community of Bethany Beach, Delaware. The property operates under an absolute NNN lease with a 25-year base term that runs through October 31, 2035, presenting investors with a passive ownership structure and no landlord responsibilities. The site includes a one-story CVS building comprising approximately 13,300 square feet, positioned on a 1.26-acre parcel that was built-to-suit in 2010. Bethany Beach is a premier coastal destination known for boardwalk attractions, pristine beaches, and affluent seasonal visitors. The property sits along Delaware Route 1 (Coastal Highway), a key north-south thoroughfare offering over 33,000 vehicles per day and multiple ingress and egress points. Neighboring the Sea Colony Community—home to more than 2,200 condos and a full amenity suite—this location benefits from dense seasonal tourism and a strong local demographic, highlighted by an average household income exceeding $124,000 within a five-mile radius. CVS Health Corporation guarantees the lease and ranks among the largest healthcare companies in the United States, operating more than 9,000 locations nationwide. This investment combines the security of a credit-rated tenant, long lease term, limited competition in the area, and strong tourism-driven fundamentals, making it an attractive acquisition for investors seeking income stability combined with 100% depreciation benefits under the leasehold structure.

FOR SALE DETAILS

PRICE

$1,585,915 USD

PRICE/SF

$119 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

-

APN/PARCEL ID

134-17.00-51.00

ASK ABOUT THIS PROPERTY

Melissa McKenzieNorthmarqMore Info
918-494-2690

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Melissa McKenzieNorthmarqMore Info
918-494-2690

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