Single-Tenant CVS
For Sale
Contact for pricing
39820 Hickman Plaza Rd, Bethany Beach, DE 19930
Leasehold interest with an absolute net lease and no landlord responsibilities.
Property Size13,300 SF
Price / SF$109.34
Days on Market211
Property Features for 39820 Hickman Plaza Rd
General Information
Standard status
Active
Size
13,300 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$232,385
Building Details
Year Built
2010
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
Mark Grossman · License #OK 184615
Source:
Crexi
Added: Mar 19
Changed: Oct 9
Last Checked: Oct 14 at 10:27PM
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
Investment Insights
Based on property information with market context.
This offering comprises the leasehold interest in a single-tenant CVS Pharmacy measuring 13,300 square feet. Completed in 2010, the property operates under an absolute net lease structure that places landlord responsibilities with the tenant.
The pharmacy is located at 39820 Hickman Plaza Rd in Bethany Beach, Delaware. Financing is structured on a non-recourse, zero-cash-flow basis and is readily assumable. The offering may accommodate buyers pursuing a 1031 or 1033 exchange, as well as investors seeking passive losses to offset income from other real estate investments.
The pharmacy is located at 39820 Hickman Plaza Rd in Bethany Beach, Delaware. Financing is structured on a non-recourse, zero-cash-flow basis and is readily assumable. The offering may accommodate buyers pursuing a 1031 or 1033 exchange, as well as investors seeking passive losses to offset income from other real estate investments.
Key Highlights
- 13,300‑square‑foot CVS Pharmacy
- Single‑tenant leasehold interest
- Absolute net lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,228
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,384,560
$2.4M
Cap Rate 7%
$1,703,257
$1.7M
Cap Rate 9%
$1,324,756
$1.3M
Market Conditions
NOI Build-Up for 13,300 SF
Gross rent
$183.5K $13.80/SF
− Vacancy
−$13.2K −$0.99/SF
EGI
$170.3K $12.81/SF
− OpEx
−$51.1K −$3.84/SF
NOI
$119.2K $8.96/SF
Area
Sussex County, DE
Vacancy
7.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,384,560
Cap Rate 7%
$1,703,257
Cap Rate 9%
$1,324,756
Alternative Uses
Best Use
Specialty Retail
$2.30M
$2.01M – $2.68M
NOI $161,056 @ 7.0% cap · market cap 11.08%
Second Best
Retail
$1.70M
$1.49M – $1.99M
NOI $119,228 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$3.65M
$3.20M – $4.26M
NOI $255,839 @ 7.0% cap · market cap 17.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
5k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,530 visits/mo
0.4 miles
Demographics for 19930, DE
2,657
Population
8,884
Households
0.3
Avg Household Size
66
Median Age
72%
College-Educated
99%
High-School Grad
5.9 sq mi
ZIP Area
450
Density / Sq Mi
$118,092
Median Household Income
$59,044
Median Earnings
$1,542
Median Rent
$798,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lauren Vaitukaitis — 32979 Coastal Hwy, Bethany Beach, DE 19930
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- COVID-19 Drive-Thru Testing at Walgreens — 32979 Coastal Hwy, Bethany Beach, DE 19930
- CVS — 39820 Hickman Plaza Rd, Bethany Beach, DE 19930
- CVS Pharmacy — 39820 Hickman Plaza Rd, Bethany Beach, DE 19930
Frequently Asked Questions
What type of property is this?
Drug store - Leasehold interest with an absolute net lease and no landlord responsibilities.
Where is this drug store located?
The property is located at 39820 Hickman Plaza Rd Bethany Beach, DE.
What is the asking price?
The asking price for this property is $1,454,190.
What are key features of this property?
This property features: 13,300‑square‑foot CVS Pharmacy; Single‑tenant leasehold interest; Absolute net lease structure
