For Sale – CVS – Wilbraham, MA · Wilbraham MA See Location on Map
Subject property is located at 1990 Boston Rd in Wilbraham, MA. The site is a CVS retail building and has operated at the site since 2001. CVS has a NN lease, Landlord is responsible for the roof and structure. CVS recently agreed to new lease extension terms, extending the current lease term out until 2039! There are 13 years left on the current term. CVS has (3) 5 year renewal options. Additionally, this is a leasehold property with the current term running concurrent with the CVS building lease expiring in 2039 and has (2) 20 year renewal options. **Seller agrees to pledge $10,248 to bring the NOI up to $239,948 for the 2027 rental increase.
The retail building is 10,125 +/- sf on .1.33+/- AC of land. The building was built in 2001. There are 50+ parking spaces.
Wilbraham, MA is located in Hampden County and is a suburb of Springfield, MA. The town of Wilbraham is known for its regard for higher education and highly rated public school system. Wilbraham is also the home to Wilbraham & Monson Academy a private residential preparatory school. The school has about 400 students and 66 faculty members. The corporate headquarters of Friendly’s Ice Cream was formerly located in Wilbraham and has since been sold to Amici Partners Group. The Town has about 14,613 people and a growing retail district along Boston Road!
Surrounding businesses include Home Depot, O’Reilly Auto Parts, Domino’s Pizza, Ford Dealership, Big Y, Urgent Care, Starbucks, Dunkin, Toyota Dealership, Friendly’s Ice Cream Factory, TD Bank, Chipotle, Chick-Fil-A, Staples, Ocean State Job Lot, Town Fair Tire, Petco, Lowe’s, McDonalds, BJs, Hobby Lobby, and more! CVS Rent Schedule: (Annually) Ground Lease Schedule: (Annually)
CVS Rent Schedule:
Original Term- 12/3/2021-1/31/2027 $ 341,933.99
New Lease Extension Term- 2/1/2027-1/7/2039 $ 352,147.50
Option 1- 1/8/2039-1/7/2044 $ 362,711.88
Option 2- 1/8/2044-1/7/2049 $ 373,593.24
Option 3- 1/8/2049-1/7/2054 $ 384,801.12
Ground Lease Rent Schedule:
Option1- 1/8/19-1/7/2029 $112,200
Option 1– 1/8/2029-1/7/2039 $112,200
Option 2- 1/8/2039-1/7/2059 $123,420
Option 3- 1/8/2059-1/7/2079 $135,762
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