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- 25-Year Absolute NNN Lease with 24 Years Remaining
- Four-way signalized corner location, New 2014 Construction
- Average HH Income of $123,750 in a 5-Mile Radius
- Corporate Guarantee: CVS Health Corporation (NYSE: CVS): $139 Billion in Revenue (2014), $37.12 Billion Net Worth, S&P Rated BBB+/Stable, Moody’s Rated Baa1/Stable
- 132,906 Residents within a 5-Mile Radius
- Average Daily Traffic Counts of 31,576 at the Intersection
- Bridgewater, NJ is Located just 40 miles West of New York City, 35 miles North of Trenton, NJ and 35 miles West of Newark, NJ
- Major Employers in Bridgewater include Johnson & Johnson, MetLife, Pfizer, Qualcom, Gold Sachs, Allstate and many more
- No Rent Holidays, Free-and-Clear of debt
- Attractive financing available: 3.625% fixed interest rate for 5-years with Interest Only payment option for the first 3-years, 65% LTV which generates a 7.22% cash-on-cash return
Marcus & Millichap is please to present a NNN CVS in Bridgewater, NJ. The subject property is a single-tenant, freestanding CVS drugstore located in Bridgewater, NJ. It is situated at the four-way signalized corner of Union Avenue and Finderne Avenue, less than one mile west of Interstate 287, which provides direct access to Newark, NJ (31 miles east) and Trenton, NJ (35 miles south). The building is a new state-of-the-art drugstore with a drive-thru pharmacy pick-up window. There are approximately 24-years remaining on the absolute net lease, with no landlord maintenance responsibilities whatsoever. The lease is corporately guaranteed by CVS Health Corporation (NYSE: CVS, S&P: BBB+/Stable, Moody’s: Baa1/Stable), a publicly-traded Fortune 500 Company (#12) with annual revenues exceeding $139 billion (2014) and a net worth in excess of $37.12 billion (Q2 2015).
The property has prominent direct street frontage along both Finderne Avenue and Union Avenue, two highly trafficked thoroughfares with combined traffic counts of 31,576 vehicles per day at the intersection. Directly across Finderne Avenue is a TD Bank, and at the opposing corner is Bridgewater Medical Group. National retailers in the surrounding trade area include TD Bank, Dunkin’ Donuts, Subway, Costco, Applebee’s, Chuck E. Cheese’s, The Home Depot, Target, Walmart Supercenter, McDonald’s, Red Lobster, Advance Auto Parts, 7-Eleven, Pep Boys Auto and many more.