Fee-Simple CVS Absolute NNN Ground
106 Boston Road, Groton, MA 01450
Fee-simple interest in the ground of a CVS Pharmacy with an Absolute NNN lease and zero landlord responsibility.
Type:Retail
Property size:
9,750 SFPrice / SF:
$251/SF- Added:
- Jun 17, 2026
- Days on Market:
- 11
- Last Refresh:
- Jun 24 at 6:27 am
Property Features for 106 Boston Road
General Information
- Standard status
- Active
- Size
- 9,750 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1999
Listing office Northmarq Capital, LLC
Listing date Jun 17, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Northmarq Capital, LLC
HighLights
- Fee‑simple interest in the ground of a CVS Pharmacy at 106 Boston Road, Groton, Massachusetts
- Build‑to‑suit CVS store completed in 1999
- CVS has operated at the location for more than 25 years, with renewal exercised in 2021
- Absolute NNN lease structure with zero landlord responsibility
- Lease includes 8% rent bumps every five years through four remaining 10‑year option periods
Overview
The property offered for sale is the fee simple interest in the ground of a CVS Pharmacy located at 106 Boston Road in Groton, Massachusetts. The store was built-to-suit in 1999, and CVS has operated at the location for more than 25 years. The current structure of the lease is described as an Absolute NNN agreement, with zero landlord responsibility and no rent holiday, supported by contract rent increases.
According to the provided information, CVS exercised the first of five, ten-year renewals in 2021. The lease also features 8% rent bumps every five years through each of the remaining four, ten-year option periods, creating accelerated scheduled growth within the term framework.
This offering is best suited for investors or buyers seeking an Absolute NNN retail asset with a long-standing pharmacy tenant and a ground-interest ownership position. Because the lease is characterized as having no landlord responsibilities, an owner’s role is reduced to the ownership of the ground interest, aligned with the property’s documented NNN structure.
According to the provided information, CVS exercised the first of five, ten-year renewals in 2021. The lease also features 8% rent bumps every five years through each of the remaining four, ten-year option periods, creating accelerated scheduled growth within the term framework.
This offering is best suited for investors or buyers seeking an Absolute NNN retail asset with a long-standing pharmacy tenant and a ground-interest ownership position. Because the lease is characterized as having no landlord responsibilities, an owner’s role is reduced to the ownership of the ground interest, aligned with the property’s documented NNN structure.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $263.3k | $27.00 |
| − Vacancy | −$19.7k | −$2.03 |
| EGI | $243.5k | $24.98 |
| − OpEx | −$60.9k | −$6.24 |
| NOI | $182.6k | $18.73 |
9,750 SF · lease $27.00/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,630 @ 7.0% cap · market cap 7.46%
Second Best
Retail
$2.00M
$1.75M – $2.34M
NOI $140,135 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$5.77M
$5.05M – $6.73M
NOI $404,038 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Santander Bank ATM
Atm
CVS Photo
(Bike/Boat/Book/etc) Store
CVS
Pharmacy
CVS Pharmacy
Pharmacy
MoneyGram
Bank
Similar Places Nearby
- CVS — 106 Boston Rd #119, Groton, MA 01450
- CVS Pharmacy — 106 Boston Rd #119, Groton, MA 01450
- James Yovino — 106 Boston Rd, Groton, MA 014501860
Location Insight
- Map
- Local Demand
- City
- Groton
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.5610112
- Latitude
- 42.59591
Nearby Similar for Sale
FAQs
What type of property is this?
Drug store - Fee-simple interest in the ground of a CVS Pharmacy with an Absolute NNN lease and zero landlord responsibility.
Where is this drug store located?
The property is located at 106 Boston Road Groton, MA.
What is the asking price?
The asking price for this property is $2,448,333.
What are key features of this property?
This property features: Fee‑simple interest in the ground of a CVS Pharmacy at 106 Boston Road, Groton, Massachusetts; Build‑to‑suit CVS store completed in 1999; CVS has operated at the location for more than 25 years, with renewal exercised in 2021
