CVS

• Recent Long Term Extension: CVS recently extended its lease by 10 years, pushing the expiration date to January 2037.
• Rare, Ultra-Long-Term Option Structure: The lease is backed by ten (10), five-year renewal options, giving the asset one of the longest potential hold periods available in the net lease drugstore sector
• Absolute NNN Lease – Zero Landlord Responsibilities: CVS is responsible for all taxes, insurance, and CAM, providing a fully passive, management-free investment for ownership.
• Built-In Hedge Against Inflation: Rent steps up 5% at the start of every one of the ten renewal options, giving the investor a contractual mechanism to grow income well beyond the current term.
• Investment-Grade Corporate Guaranty: The lease is guaranteed by CVS Health Corporation (NYSE: CVS), which carries investment-grade ratings of BBB (S&P) and Baa2 (Moody’s), backed by a company generating over $370 billion in annual revenue.
• High-Visibility Highway Location: Positioned with freeway visibility and pylon signage directly on US-27/E Interlake Blvd, Lake Placid’s main commercial corridor, with a combined traffic count of ±27,900 vehicles per day and a drive-thru for added convenience and sales support.
• Emerging Growth Driver Nearby: Amazon is developing a new 75,000-square-foot delivery station approximately 2 miles from the site, a catalyst expected to bring added traffic, jobs, and rooftops to the immediate trade area.
• Long Operating History, No Rent Holiday: Open and operating since 1999 with no gaps in rent, the 10,857 SF store sits on a 1.46-acre parcel with 60 parking spaces — demonstrating a proven, established location for the tenant.