676 Southbridge St - Drug Store FOR SALE


Auburn, MA 01501
$4,888,888 USD
215-600-1761
676 Southbridge St, Auburn, MA for Sale
$4,888,888 USD
Drug Store - FOR SALE
1/6
null | 6.75% Cap Rate

676 Southbridge St
Auburn, MA 01501


HIGHLIGHTS

  • Long Term Lease
  • Scheduled Rent Increases
  • Investment Grade Credit
  • Zero Management Responsibilities
  • Strategic Retail Location
  • Limited Competition

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant CVS investment property located at 676 Southbridge Street in Auburn, Massachusetts (the “Property”). The Property was originally constructed for CVS in 1997 with a 20-year, Triple Net (NNN) Lease; in 2004, CVS demonstrated a strong commitment to the site by modifying their lease to a full 25-year term that expires in 2029. There are currently 3+ years of term remaining on the lease followed by four (4), 5-year renewal options. The lease features attractive 6.0% rent increases at the start of each of the renewal options. CVS is strategically located along Southbridge Street in Auburn’s primary commercial corridor, situated at the signalized intersection with Faith Avenue and Goulding Drive, which provides strong visibility, frontage, and convenient access. The Property benefits from excellent regional connectivity, located near the interchange of Interstate 290 and the Massachusetts Turnpike (I-90), allowing for efficient access to Worcester, Boston, and surrounding Central Massachusetts communities. The surrounding retail environment is well established, with nearby national retailers and traffic generators including BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall, all of which contribute to consistent consumer traffic and sustained activity within the trade area.

FOR SALE DETAILS

PRICE

$4,888,888 USD

PRICE/SF

$483 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

-

APN/PARCEL ID

AUBU-000061-000000-000071

ASK ABOUT THIS PROPERTY

Mark TaylorHorvath & TremblayMore Info
215-600-1761

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Mark TaylorHorvath & TremblayMore Info
215-600-1761

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