CVS Drive-Through
2 Lafayette Rd, Salisbury, MA 01952
For Sale
Contact for pricing
A freestanding pharmacy with drive-through pickup and a net lease backed by CVS Caremark Corporation.
Property Size13,225 SF
Lot Size1.57 Acres
Price / SF$430.80
Days on Market36
Property Features for 2 Lafayette Rd
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Drive-Thru
Tenant in Place
Building Details
Buildings
Tenancy
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Deno Bistolarides · License #BRKP.2020008390
(248) 702-0288
Source:
Crexi
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 8 at 5:07PM
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 Encore Real Estate Investment Services
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Investment Insights
Based on property information with market context.
The freestanding CVS drugstore in Salisbury, Massachusetts, contains 13,225 square feet on approximately 1.57 acres. A drive-through pharmacy provides a separate option for prescription pickup. The net lease has more than 8 years remaining and is backed by CVS Caremark Corporation.
The property is at 2 Lafayette Rd in Salisbury, in the North Shore area of the Boston metropolitan area, near Newburyport and the New Hampshire border. Average household income is approximately $122,147 within one mile, $149,909 within three miles, and $146,232 within five miles.
The property is at 2 Lafayette Rd in Salisbury, in the North Shore area of the Boston metropolitan area, near Newburyport and the New Hampshire border. Average household income is approximately $122,147 within one mile, $149,909 within three miles, and $146,232 within five miles.
Key Highlights
- 13,225‑square‑foot freestanding CVS drugstore on approximately 1.57 acres
- Drive‑through pharmacy
- Net lease with more than 8 years remaining, backed by CVS Caremark Corporation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,454
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,889,080
$4.9M
Cap Rate 7%
$3,492,200
$3.5M
Cap Rate 9%
$2,716,156
$2.7M
Market Conditions
NOI Build-Up for 13,225 SF
Gross rent
$333.3K $25.20/SF
− Vacancy
−$7.3K −$0.55/SF
EGI
$325.9K $24.65/SF
− OpEx
−$81.5K −$6.16/SF
NOI
$244.5K $18.48/SF
Area
Essex County, MA
Vacancy
2.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,889,080
Cap Rate 7%
$3,492,200
Cap Rate 9%
$2,716,156
Alternative Uses
Best Use
Specialty Retail
$3.49M
$3.06M – $4.07M
NOI $244,454 @ 7.0% cap · market cap 4.29%
Second Best
Retail
$3.10M
$2.72M – $3.62M
NOI $217,292 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$7.83M
$6.85M – $9.13M
NOI $548,041 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
9k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 83%
Shops & Services 17%
Dunkin' Donuts
Dining
7,727 visits/mo
0.1 miles
Gulf Oil
Shops & Services
1,566 visits/mo
0.1 miles
Demographics for 01952, MA
9,236
Population
4,981
Households
1.9
Avg Household Size
52
Median Age
44%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
600
Density / Sq Mi
$102,521
Median Household Income
$54,344
Median Earnings
$1,646
Median Rent
$450,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- CVS — 2 Lafayette Rd, Salisbury, MA 01952
- CVS Pharmacy — 2 Lafayette Rd, Salisbury, MA 01952
- Katelyn Gilman — 2 Lafayette Rd, Salisbury, MA 019522002
Frequently Asked Questions
What type of property is this?
Drug store - A freestanding pharmacy with drive-through pickup and a net lease backed by CVS Caremark Corporation.
Where is this drug store located?
The property is located at 2 Lafayette Rd Salisbury, MA.
What is the asking price?
The asking price for this property is $5,697,320.
What are key features of this property?
This property features: 13,225‑square‑foot freestanding CVS drugstore on approximately 1.57 acres; Drive‑through pharmacy; Net lease with more than 8 years remaining, backed by CVS Caremark Corporation
