CVS-New Bedford MA

CVS-New Bedford MA · New Bedford MA See Location on Map

Subject Property is located at 2100 Acushnet Ave in New Bedford, MA. Property is a commercial building on .89+/­ AC of land with a total of 15,540+/­ SF building. CVS occupies 8,820+/­ SF, with 6,720+/­ SF in the back of the building. CVS has exercised their second option to renew, extending the lease out to 1/31/2027. There is one (1) additional 5 year renewal option remaining.

Landlord is responsible for the roof and structure. Landlord is responsible for 27.5% of CAM expenses, with CVS paying 72.5% of the CAM expenses.

The 6,720 +/­ SF in the back of the property is an excellent re­development opportunity for additional income! The rear of the building is 2 stories, currently with two tenants paying minimal rents.  **These rents are not included in the rental income on the property.

Property is zoned ­ Mixed Use Business allowing for apartment use.

*Rent is based on the 2022 rent increase. Seller will provide a pledge account to bring the 2021 rent to $190,531.00


Rent Schedule:

Current (2/1/2017­1/31/2022) ­ $176,418

Option 2 (2/1/2022­ 1/31/2027)­ $190,531  — CVS has exercised this option already!

Option 3 (2/1/2027­ 1/31/2032) ­ $205,773

Current Landlord Expenses = $21,165.00

Current NOI =          $169,366.00

Average daily traffic count­ 9,923 cars a day!


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