CVS Leasehold

Tenant

CVS Pharmacy

Location

East Brunswick, NJ

Price

$1,549,678

CAP Rate

8.58%

NOI

$139,471

Lease Term

22 Years

Occupancy

100%

Building Size

11,060 SF

Property Type

Single Tenant

Year Built

1965

Lot Size

1.45 Acres

Status

Closed

Property Contacts:

Karly Iacono

Associate Director

201-742-6119 | Email

  • Leasehold Interest with Attractive 9.0% Cap Rate
  • New York City MSA
  • Average Income for East Brunswick is $126,299
  • Standard & Poor’s BBB+ Rated Tenant – Investment Grade
  • Absolute NNN Lease Backed by CVS Corporation with Annual Sales over $153 Billion
  • 24 Hour Store with Drive-through
  • 10 Years Left on Base Term

Marcus & Millichap is pleased to exclusively present a leasehold interest in a freestanding NNN CVS drugstore located at 330 Rues Lane in East Brunswick, New Jersey. This property is 11,060 square feet and the lot size is approximately 1.2 acres. The base lease term expires in 2027 and has six extension options, one 2-year option and five 5-year options. The property is located on the signalized intersection of Rues Lane and Cranbury Road. Cranbury Road is also known as County Route 535 which serves as the main thoroughfare for Mercer and Middlesex counties. The subject property is adjacent to a retail strip center which includes a 7-Eleven. Robert Wood Johnson University Hospital, ranked as the third best performing hospital in New Jersey, is approximately 6 miles away. The hospital has over 900 beds and conducts over 18,000 surgeries a year. The East Brunswick CVS is a 24 Hour store with a drivethrough. East Brunswick, New Jersey is a part of the New York City metropolitan area bordered to the east by the Hudson River. It is about 35 miles south of New York City and the average household income for East Brunswick is $126,299 which is double the national average. East Brunswick is centrally located in New Jersey making it a perfect place for commuters traveling to both New York City and Philadelphia