599 State Rd Westport, MA 02790-2819

Property Details for 599 State Rd

Year built

2009

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.86 lot acres

Property size

14,033 SF

Zone code

HISTOR

Property type

Retail space

APN

WPOR M:7 L:345-348

APU

WPORM7L345348

Description

This exceptional investment opportunity presents a fee-simple ownership of a 13,225 square foot CVS Pharmacy in Westport, MA. The property boasts a new 15-year absolute NNN lease with a credit-rated, corporate-guaranteed tenant, ensuring minimal landlord responsibilities. The lease features three 5-year renewal options, each with a 10% rent increase, providing significant long-term income growth. With a current NOI of $385,000 and a 5.75% cap rate, this property offers a compelling return on investment. Built in 2009, the 1.87-acre lot is strategically located at a signalized intersection on Highway 6, a major thoroughfare connecting New Bedford, Fall River, and Providence, RI. The property benefits from excellent visibility and accessibility, serving a thriving community with an average household income exceeding $101,000, projected to increase by 18% in the next five years. The lease expires April 30, 2039, offering a substantial remaining lease term of approximately 14.4 years. This is a rare opportunity to acquire a high-performing, low-maintenance investment property anchored by a financially strong, nationally recognized tenant. The property's location within a densely populated and affluent area, combined with the long-term lease and built-in rent increases, makes this an attractive investment for discerning buyers. The asking price is $6,695,651.

Location Insight

City

Westport

County

Bristol

State

Massachusetts

Longitude

-71.0839

Latitude

41.6601

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments