Bellevue, PA
- Lease with CVS guarantees an income of $1,330,000 over the term.
- This offering is for the leasehold interest on the CVS guaranteed lease.
- In 2018, CVS exercised the remaining 4 options of the lease and has ±14 years remaining.
- Property features a MinuteClinic branded as a HealthHub, providing customers enhanced healthcare services and shopping experience.
- Near AGH Suburban Hospital, a 195-bed satellite facility located just 0.5 miles from subject Property.
- Subject Property is one of only two national chain freestanding drugstores within a 3-mile radius and the only CVS north of the Ohio River within the same distance.
- This location is open until 11 PM, which is later than any other national drugstore tenant in the neighboring 5-mile radius.
- Bellevue is an infill suburb of Pittsburg and boasts over 207,000 residents in a 5-mile radius.
Pharma Property Group is pleased to market for sale the leasehold interest in the CVS property located at 355 Lincoln Avenue, Bellevue (Pittsburgh) PA ("The Property"). CVS has had a long successful operating history at this location (±24 years) and in 2018 extended their lease for an additional 20 years of firm term showing their commitment to this location. CVS is on an absolute NNN lease with no landlord responsibilities whatsoever.
The property is one of only two national chain freestanding drugstores within a 3-mile radius and the only CVS north of the Ohio River within this same distance. CVS benefits from its proximity to Allegheny General Hospital – Suburban, a 195-bed facility located just half a mile northwest along Lincoln Avenue, which is one of the main retail corridors in Bellevue.
This CVS location also features a Minute Clinic and is branded as a Health Hub, providing enhanced healthcare services and shopping experience that customers can find in only select locations nationwide. Additionally, this CVS operates on extended hours as the only CVS pharmacy open past 7 PM in the surrounding 5-mile radius, serving nearly 40,000 households.
