Published on: Friday, January 31, 2025
Updated on: Friday, January 31, 2025
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About the Lister
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Name: Ryan Bennett
Company: NNN Investment Group
Office Phone: 760-448-2449
Cell Phone: 760-519-0240
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  CVS | Millerton, NY
108 Route 44 Millerton New York , 12546
108 Route 44 Millerton New York , 12546  NNN Investment Group
Listing ID: CL-New York-13870

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 7.5
Net Operating Income: $240,200.00
Commission Split (%): 0
Quick Glance
Listing ID: CL-New York-13870
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: N/A
Year Build: 1957
Building Size: N/A SqFt
Lot Size: 1.09 Acre
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: Yes
Property On Ground Lease: No
Building Status: Existing
Listing Summary
Lee & Associates is pleased to present a high-quality, single-tenant investment featuring CVS Pharmacy in the heart of Millerton, New York.
Complete Details
Year Build: 1957
Building Size: N/A SqFt.
No of Stories: 1
Total Lot Area: 1.09 Acre
No of Parking: N/A
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: Yes
Business Price Included?: No
Roofing: Not Specified
Occupancy: 0%
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.

Additional Properties
Property 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
Features
  • Price Per Foot: $309
  • Lease Type: Modified NNN
  • Remaining Term: 4.5 Years
  • GLA: 10,349 sqft
  • Year Built: 1957/ Ren. 2005
Listing Location
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