Property Details

CVS Pharmacy & Zwanger-Pesiri Radiology

New York, NY
Property ID: 14635

Financial Summary

Asking Price $40,500,000
Cap Rate 4.55%
Net Operating Income (NOI) $1,842,536
Lease Type Modified Net

Offering Memorandum

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Contact

Jonathan W. Hipp
Capital Markets Head of U.S. Net Lease Group
202.644.8700
Richard Murphy, CCIM
Senior Vice President U.S. Capital Markets Net Lease Group
703.288.2700
Brent Glodowski
Director
212.230.5996
James Nelson
Head of Tri-State Investment Sales
212.729.7140

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Highlights

  • Located at one of Manhattan’s busiest intersections
  • Newly opened CVS branch under long term lease
  • Outstanding location in Harlem one block east of the 125th Street Subway Station
  • Direct proximity to the West 125th Street / Frederick Douglas Boulevard bus stop
  • Moody’s Baa2 rated tenant
  • Recently constructed building with minimal landlord responsibilities
  • Generational quality asset
  • Generous rent escalations every five-years
  • Below market in-place rents

Location

324 W 125th St
New York, NY

Leigh ClineCVS Pharmacy & Zwanger-Pesiri Radiology