Commercial Property for Sale in Millerton New York 12546

108 Route 44, Millerton New York, 12546

Listing ID: CL-New York-13870 Commercial Free Standing Retail
Published on: Friday, January 31, 2025 | Updated on: Wednesday, September 24, 2025

Listing Summary

Lee & Associates is pleased to present a high-quality, single-tenant investment featuring CVS Pharmacy in the heart of Millerton, New York.

Full Description

 

Lee & Associates is pleased to present a high-quality, single-tenant investment featuring CVS Pharmacy in the heart of Millerton, New York. This stable, long-term asset offers investors a passive income stream with minimal landlord responsibilities, making it an ideal addition to any investment portfolio. Millerton, NY, is a thriving community known for its charming downtown, affluent residents, and steady foot traffic. Located near the Hudson Valley and Berkshire regions, the area attracts a mix of local shoppers, weekend visitors, and second-home owners. With a growing demand for essential retail and healthcare services, CVS remains a recession-resistant tenant, ensuring continued viability and cash flow stability.

Quick Glance

  • Listing ID: CL-New York-13870
  • Status: Active
  • Year Build: 1957
  • Building Size: N/A
  • Lot Size: 1.09 Acre

Additional Links

Property Documents

No documents available.

Complete Details

  • Year Build: 1957
  • No of Stories: 1
  • Total Lot Area: 1.09 Acre
  • No of Total Units: 1
  • Heating and Cooling: Not Specified

Pricing Details

Additional Features

Features
  • Price Per Foot: $309
  • Lease Type: Modified NNN
  • Remaining Term: 4.5 Years
  • GLA: 10,349 sqft
  • Year Built: 1957/ Ren. 2005
Highlights
  • Strong Corporate Lease Guarantee | CVS Health Corp: Investment Grade Credit Tenant (S&P: BBB) | Largest Pharmacy in the US (9,700 Stores) | Revenues of $357.8 Billion
  • High Performing CVS Location | Over $12,500,000 in Reported Gross Sales (2024) | Extremely Profitable 1.9% Rent to Sales Ratio | Established Long-Term Commitment to Site | 27 Year Successful Operating History
  • Attractive Modified NNN Lease | Minimal Landlord Responsibilities | 6% Rent Increases Every 5 Years | Renovated in 2005
  • High Visibility & Accessibility Along Route 44 | Drive Through Enhances Customer Convenience | No Pharmacy Competition Within Submarket | Consistent & Loyal Customer Demand
  • Located Near Border of Connecticut and Massachusetts | Millerton is 35 Miles from Poughkeepsie, NY, the Largest City in Dutchess County and Home to Vassar College | Located 1 Hour from Albany, the Capital of New York State
  • Serves as a Crucial Healthcare Resource for the Local Community | Provides Essential Services Including: Prescription Fulfillment, Over-The-Counter Medications & Supplies, Vaccination Services, Minuteclinic & Health Consultation | 24/7 Access via App & De

Listing Location

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