Single Tenant CVS Pharmacy and Two-Tenant Great Clips and Philly Pretzel Factory
Levittown, PA
THE OPPORTUNITY
Summary
- Price: $5,757,000
- Cap Rate: 6.04%
- NOI: $347,759
- Years Built: 1999 and 2002
- WALT: 13.38 Years
- Average Tenure: 18.3 Years
Forged Real Estate is pleased to exclusively offer the opportunity to acquire a single-tenant CVS Pharmacy with a drive-thru and a two- tenant Great Clips and Philly Pretzel Factory building in Levittown, Pennsylvania (the “Property”). Located in Bucks County, a suburb of Philadelphia, CVS Pharmacy is operating on a long-term lease with just under 15 years of remaining term; CVS has been at the location since 2000, and extended their lease through 2037, demonstrating a true commitment to the site. Great Clips and the Philly Pretzel Factory have been open and operating at this location for nineteen (19) and thirteen (13) years respectively. Including the CVS Pharmacy, all three retailers have an average tenure at the property of over eighteen (18 years), creating an identity within the surrounding area. The Property is conveniently situated adjacent to a fully signalized, five-way intersection that is exposed to over 31,000 vehicles per day. It is centrally located one (1) mile from ~6,000 students including over 3,000 students at Pennsbury East High School and 1,500 students from Bucks County Technical High School.