181 Silver St Dover, NH 03820

Property Details for 181 Silver St

Year built

2021

Lot size

1.53 lot acres

Property size

14,698 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple condominium interest in a 14,698 square foot CVS Pharmacy located at 181 Silver St Unit 2A, Dover, NH 03820. The property boasts a strong 5.00% cap rate and a substantial net operating income (NOI) of $220,000. Built in 2021, this single-story building sits on a 1.53-acre lot and is part of a five-unit mixed-use development, Silver Square, strategically located at a high-traffic intersection of Silver Street (NH Route 9), Knox Marsh Road, and the Spaulding Turnpike on-ramp. The Absolute NNN ground lease with CVS Pharmacy, a credit-rated, publicly traded company, has a remaining term of 17.2 years, extending to January 31, 2042, with five 5-year renewal options and built-in rent bumps. The property benefits from excellent visibility and signage along the Spaulding Turnpike, a major commuter highway, and is conveniently located near downtown Dover, residential areas, schools, and Wentworth-Douglass Hospital. The property enjoys high daily traffic counts exceeding 15,400 vehicles at the intersection and over 49,500 vehicles on the adjacent Spaulding Turnpike. The surrounding area features a strong demographic profile, with approximately 30,900 people within a 3-mile radius and an average household income exceeding $120,000. Numerous other retailers and businesses in the immediate vicinity further enhance the property's desirability. This is a rare opportunity to acquire a high-performing, low-maintenance investment with a long-term, secure lease and significant upside potential. The property is 100% occupied.

Location Insight

City

Dover

County

Strafford

State

New Hampshire

Longitude

-70.8873

Latitude

43.1888