Investment Highlights
- Long-Term Tenant, In Place for Approximately 25 Years
- Tenant Recently Extended the Lease an Additional 10 Years, Commencing on February 1, 2024
- Long-Term, Triple Net (NNN) Lease With Two, Five-Year Tenant Renewal Options
- Extremely High Store Sales With Sales Increasing Year Over Year – Contact Listing Agent for Details
- CVS Health is an American Retail Pharmacy and Healthcare Company That Operates One of the Largest Pharmacy Chains in the U.S.
- Situated in Close Proximity to Highway 84, With More Than 84,000 Vehicles Daily and Connects the Area South to Hartford and North into Massachusetts
- In Close Proximity, There are Numerous Large Apartment and Condo Communities in the Immediate Area, Contributing to Increased Traffic Flow Around the Subject Property
- Average Annual Household Income of $96,768 in Three Miles of the Property and $115,942 in Five Miles
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a CVS located in Rockville, CT. This lease offers a long-term triple-net (NNN) lease with the tenant in place for approximately 25 years. The tenant has recently extended the lease for an additional 10 years, starting on February 1, 2024, featuring two five-year tenant renewal options with rent increases in each option period. Extremely high store sales with sales increasing year over year – contact listing agent for details.
CVS Health is an American retail pharmacy and healthcare company that operates one of the largest pharmacy chains in the U.S. The company has a presence in nearly 10,000 retail locations.
The property is positioned in close proximity to Highway 84, with a daily traffic count exceeding 84,000 vehicles. It serves as a linkage route connecting the southern region to Hartford and extending northward into Massachusetts. The property is specifically located at the signalized intersection of Windermere Avenue and Windsor Avenue. Additionally, in the immediate vicinity, there are several large apartment and condo communities, contributing to heightened traffic flow around the subject property. The average annual household income within three miles of the property is $96,768, and within five miles it amounts to $115,942.
The property is located in the Hartford Metro Area within Tolland County, CT. It is situated approximately 14 miles from Hartford Hospital, an 867-bed hospital with over 1,280 physicians and dentists, recognized as one of the largest acute-care teaching hospitals in New England. Positioned 15 miles northeast of Hartford, the capital city of Connecticut, the area has recently gained recognition from Money Magazine as one of the 50 Best Places to Live in America. The Hartford Metro boasts a diverse economy, primarily focused on insurance and financial services, earning it the designation of the “Insurance Capital of the World” due to the presence of several major insurance companies headquartered in Hartford. Other sectors contributing to the local economy include healthcare, education, and manufacturing.
Broker of Record:
John Krueger
Lic #: REB.0752012
