Single-Tenant CVS NNN
676 Southbridge St Auburn, MA 01501
676 Southbridge St, Auburn, MA, 01501
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For Sale
Contact for pricing
Single-tenant CVS property with remaining lease term through 2029 and renewal options.
Property Size10,125 SF
Price / SF$482.85
Days on Market97
Property Features for 676 Southbridge St
General Information
- Standard status
- Active
- Size
- 10,125 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1997
Listing agency
Horvath & Tremblay
Listed by
Mark Taylor · License #PA AB050069L
Source
Crexi
Added: Apr 16 Updated: Jul 20 at 7:44PM Checked: Jul 20 at 7:44PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Horvath & Tremblay presents the opportunity to acquire a single-tenant CVS investment property. Originally constructed for CVS in 1997, the site is held under a Triple Net (NNN) lease. In 2004, CVS modified the agreement to a full 25-year term that expires in 2029, with 3+ years of term currently remaining and four (4) five-year renewal options. The lease includes 6.0% rent increases at the start of each renewal option.
The property is located along Southbridge Street in Auburn’s primary commercial corridor at the signalized intersection with Faith Avenue and Goulding Drive, providing visibility, frontage, and convenient access. Regional connectivity is supported by the nearby interchange of Interstate 290 and the Massachusetts Turnpike (I-90), offering efficient routes to Worcester, Boston, and Central Massachusetts communities. The surrounding retail environment is established, with nearby national retailers and traffic generators including BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall.
The property is located along Southbridge Street in Auburn’s primary commercial corridor at the signalized intersection with Faith Avenue and Goulding Drive, providing visibility, frontage, and convenient access. Regional connectivity is supported by the nearby interchange of Interstate 290 and the Massachusetts Turnpike (I-90), offering efficient routes to Worcester, Boston, and Central Massachusetts communities. The surrounding retail environment is established, with nearby national retailers and traffic generators including BJ’s Wholesale Club, Walmart Supercenter, and the Auburn Mall.
Key Highlights
- Single‑tenant CVS property in Auburn, MA built in 1997
- 25‑year NNN lease modified in 2004; current term through 2029 with 3+ years remaining
- Four 5‑year renewal options remain, with 6.0% rent increases at the start of each renewal option
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 | $218.7k | $21.60 |
| − Vacancy | −$4.8k | −$0.48 |
| EGI | $213.9k | $21.12 |
| − OpEx | −$53.5k | −$5.28 |
| NOI | $160.4k | $15.84 |
10,125 SF · lease $21.60/SF/yr · vacancy 2.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.29M
$2.01M – $2.67M
NOI $160,416 @ 7.0% cap · market cap 3.28%
Second Best
Retail
$2.14M
$1.87M – $2.50M
NOI $149,722 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$3.46M
$3.03M – $4.03M
NOI $242,028 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
CVS Photo
(Bike/Boat/Book/etc) Store
Santander Bank ATM
Atm
676 Southbridge St ...
Parking Lot & Garage
CVS
Pharmacy
CVS Pharmacy
Pharmacy
Similar For Sale Nearby
Similar Off Market Nearby
- CVS — 676 Southbridge St, Auburn, MA 01501
- CVS Pharmacy — 676 Southbridge St, Auburn, MA 01501
- Auburn Pharmacy & Home Health Care — 689 Southbridge St, Auburn, MA 01501
- Emmanuel Armanious — 676 Southbridge St, Auburn, MA 015011801
FAQs
What type of property is this?
Drug store - Single-tenant CVS property with remaining lease term through 2029 and renewal options.
Where is this drug store located?
The property is located at 676 Southbridge St Auburn, MA.
What is the asking price?
The asking price for this property is $4,888,888.
What are key features of this property?
This property features: Single‑tenant CVS property in Auburn, MA built in 1997; 25‑year NNN lease modified in 2004; current term through 2029 with 3+ years remaining; Four 5‑year renewal options remain, with 6.0% rent increases at the start of each renewal option
