CVS Pharmacy Investment
For Sale
Contact for pricing
202 4th St, Honesdale, PA 18431
NNN leased CVS Pharmacy with long-term secure cash flow.
Property Size13,262 SF
Price / SF$332
Days on Market197
Property Features for 202 4th St
General Information
Standard status
Active
Size
13,262 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$308,227
Building Details
Year Built
2013
Tenancy
Single
Listing Agency:
JLL - Dallas | Cedar Springs, Texas
Listed By:
Caroline Pinkston · License #601565
Source:
Crexi
Added: Jan 26
Changed: Aug 9
Last Checked: Aug 10 at 8:33AM
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 JLL - Dallas | Cedar Springs, Texas
Investment Insights
Based on property information with market context.
The offering is an opportunity to acquire a CVS Pharmacy located at 202 4th Street, Honesdale, PA 18431. The tenant operates under an absolute NNN lease with approximately 12.8 years of primary term remaining, and two, five-year renewal options. The property is positioned in a prime downtown Honesdale, PA location at the highly visible hard corner, signalized intersection of Interstate-6 and Sunrise Avenue, a critical traffic confluence that attracts a combined 23,000 vehicles per day. The pharmacy is at the epicenter of the community's daily traffic patterns, ensuring maximum visibility and accessibility for both local residents and commuters passing through this key arterial intersection. The property size is 13,262 square feet. This regional CVS location benefits from limited competition, with the closest CVS store located 8 miles to the south and 16 miles to the west, generating a large trade area for the store and contributing a strong store traffic, ranking in the top 32% per placer.ai. This offering presents investors with an exceptional opportunity to acquire an asset providing secure, long-term cash flow, backed by a leading national retailer.
Key Highlights
- Absolute NNN lease with approximately 12.8 years of primary term remaining, providing secure, long‑term cash flow.
- Tenant is CVS Pharmacy, a leading national retailer.
- Strategically positioned in a prime downtown Honesdale, PA location at a highly visible, signalized hard corner.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$170,980
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,419,600
$3.4M
Cap Rate 7%
$2,442,571
$2.4M
Cap Rate 9%
$1,899,778
$1.9M
Market Conditions
NOI Build-Up for 13,262 SF
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.
Gross rent
$238.7K $18.00/SF
− Vacancy
−$10.7K −$0.81/SF
EGI
$228.0K $17.19/SF
− OpEx
−$57.0K −$4.30/SF
NOI
$171.0K $12.89/SF
Area
Wayne County, PA
Vacancy
4.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,419,600
Cap Rate 7%
$2,442,571
Cap Rate 9%
$1,899,778
Alternative Uses
Best Use
Specialty Retail
$2.44M
$2.14M – $2.85M
NOI $170,980 @ 7.0% cap · market cap 3.88%
Second Best
Retail
$2.27M
$1.99M – $2.65M
NOI $159,080 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,366 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 18431, PA
12,602
Population
6,217
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
90%
High-School Grad
134.8 sq mi
ZIP Area
93
Density / Sq Mi
$55,323
Median Household Income
$33,298
Median Earnings
$1,013
Median Rent
$222,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CVS Pharmacy — 202 4th St, Honesdale, PA 18431
- CVS — 202 4th St, Honesdale, PA 18431
- Stephens Pharmacy — 1101 Main St, Honesdale, PA 18431
- CVS — 412 W Park St, Honesdale, PA 18431
- Beauty By Baily — 304 Willow Ave, Honesdale, PA 18431
Frequently Asked Questions
What type of property is this?
Drug store - NNN leased CVS Pharmacy with long-term secure cash flow.
Where is this drug store located?
The property is located at 202 4th St Honesdale, PA.
What is the asking price?
The asking price for this property is $4,403,000.
What are key features of this property?
This property features: Absolute NNN lease with approximately 12.8 years of primary term remaining, providing secure, long‑term cash flow.; Tenant is CVS Pharmacy, a leading national retailer.; Strategically positioned in a prime downtown Honesdale, PA location at a highly visible, signalized hard corner.
