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CVS Triple-Net NNN in Robinson, PA

5703 Steubenville Pike, McKees Rocks, PA 15136, USA
$6,935,145

Description

Marcus & Millichap is pleased to present for sale this freestanding, absolute triple-net leased CVS located at 5703 Steubenville Pike, McKees Rocks, PA in Allegheny County, just a short 10 miles West of downtown Pittsburgh, PA. The subject property consists of 12,900 square feet and is situated on a very large 2.55 acre parcel with two full service, pharmacy drive-thru windows and a CVS Minute Clinic within the store. This CVS is strategically located at the signalized intersection of Steubenville Pike and Beaver Grade Road with a combined traffic count exceeding 30,000 vehicles per day. There are over 121,000 full-time residents in the market area with an impressive, average household income exceeding $93,000, annually. There are over 16.5 years remaining on the original 25-year lease including six five-year options with 5 percent increases in each. This store benefits from being within a mile from a master plan, mixed use development covering over four million square feet including the 880,000 Square Feet Mall at Robinson, the 456,029 Square Feet Robinson Town Center including; IKEA, Value City Furniture, Jo-Ann Fabric and Craft Store, Marshall’s, T.J. Maxx, Guitar Center, Starbucks and Home Goods. Other Big Boxes include Lowe’s, Walmart Super Center, Sam’s Club, Target, Bed Bath & Beyond and Old Navy, to name a few. CVS Pharmacy (styled as CVS/pharmacy or simply CVS) is an American pharmacy retailer and currently stands as the second largest pharmacy chain, after Walgreen’s, in the United States, with more than 7,600 stores, and is the second largest US pharmacy based on total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 12th largest company in the world according to Fortune 500 in 2014. CVS Pharmacy’s leading competitor Walgreen’s ranked 37th. CVS is incorporated in Delaware, and is based in Woonsocket, Rhode Island. As of 2008, CVS Caremark was the largest for-profit employer in Rhode Island. It was founded on Merrimack Street in Lowell, Massachusetts, in 1963, under the name Consumer Value Store.

 

■ GUARANTEED BY “CVS CORPORATE” (NYSE: CVS) S&P RATED: BBB+
■ SUBJECT TO ABSOLUTE-NET LEASE WITH OVER 16.5 YEARS REMAINING IN
INITIAL 25-YEAR TERM
■ SIX OPTION PERIODS REMAINING WITH 5 PERCENT INCREASES
■ AFFLUENT PITTSBURGH SUBURB – AVERAGE HOUSEHOLD INCOME
EXCEEDS $93,000, ANNUALLY
■ TWO, FULL SERVICE PHARMACY DRIVE-THRU WINDOWS
■ CVS MINUTE CLINIC WITHIN THE STORE

  • Address: 5703 Steubenville Pike
  • City: Robinson
  • State/county: Pennsylvania
  • Zip/Postal Code: 15136
  • Country: United States

Detail

  • Price: $6,935,145
  • Year Built: 2008

Features