CVS Leased Investment
734 E Washington St, New Castle, PA 16101
For Sale
Contact for pricing
NNN leased CVS with 9 years remaining on base term.
Property Size10,125 SF
Price / SF$307.27
Days on Market288
Property Features for 734 E Washington St
General Information
Standard status
Size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Northmarq NYC
Listed By:
John Rotunno · License NY #10301211565
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 14 at 3:38AM
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 NYC
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Investment Insights
Based on property information with market context.
The property is fully occupied by CVS Health Corporation, operating under a NNN lease agreement that assigns limited responsibilities to the landlord. The lease has a remaining base term of 9 years, with four 5-year renewal options available. The lease includes rent increases of 7% at the start of each renewal period. Located approximately two miles from the property is UPMC Jameson, a full-service community hospital. The hospital is licensed for 146 beds and employs more than 300 physicians along with nearly 800 healthcare professionals.
Key Highlights
- 100% occupied by CVS Health Corporation, a nationally recognized tenant.
- NN lease structure limits landlord responsibilities.
- 9 years remaining on the base lease term provides stable income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,366
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,987,320
$2.0M
Cap Rate 7%
$1,419,514
$1.4M
Cap Rate 9%
$1,104,067
$1.1M
Market Conditions
NOI Build-Up for 10,125 SF
Gross rent
$142.2K $14.04/SF
− Vacancy
−$9.7K −$0.95/SF
EGI
$132.5K $13.09/SF
− OpEx
−$33.1K −$3.27/SF
NOI
$99.4K $9.81/SF
Area
Lawrence County, PA
Vacancy
6.80%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,987,320
Cap Rate 7%
$1,419,514
Cap Rate 9%
$1,104,067
Alternative Uses
Best Use
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,366 @ 7.0% cap · market cap 3.19%
Second Best
Retail
$1.20M
$1.05M – $1.40M
NOI $84,200 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,530 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
1,973 visits/mo
0.0 miles
O'Reilly Auto Parts
Shops & Services
1,110 visits/mo
0.2 miles
Advance Auto Parts
Shops & Services
859 visits/mo
0.1 miles
Demographics for 16101, PA
31,960
Population
14,755
Households
2.2
Avg Household Size
44
Median Age
18%
College-Educated
92%
High-School Grad
69.2 sq mi
ZIP Area
462
Density / Sq Mi
$50,481
Median Household Income
$36,670
Median Earnings
$706
Median Rent
$109,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- New Castle Pharmacy — 1112 S Mill St, New Castle, PA 16101
- Medical Arts Center Pharmacy — 1000 S Mercer St # 102, New Castle, PA 16101
- Michael V. Fornataro, RPH — 708 E Washington St, New Castle, PA 16101
- CVS Pharmacy — 734 E Washington St, New Castle, PA 16101
- CVS — 734 E Washington St, New Castle, PA 16101
Frequently Asked Questions
What type of property is this?
Drug store - NNN leased CVS with 9 years remaining on base term.
Where is this drug store located?
The property is located at 734 E Washington St New Castle, PA.
What is the asking price?
The asking price for this property is $3,111,100.
What are key features of this property?
This property features: 100% occupied by CVS Health Corporation, a nationally recognized tenant.; NN lease structure limits landlord responsibilities.; 9 years remaining on the base lease term provides stable income.
