Harwich, MA
- This location is reporting ±$16 million is sales and has experienced year-over-year increased sales volumes which are now 30% higher versus 2020.
- CVS has been operating here for nearly 25 years and recently extended their lease early to 15 years with 5%rental increases in the options.
- In 2023, the Property had major capital improvements including a new roof, parking lot restripe/sealing and exterior building updates.
- This is the only standalone national brand drugstore within a 5-mile radius.
- Household income in a 3-mile radius of the subject property is $108,513.
- Property to be delivered free and clear of debt. There are no rent holidays.
Pharma Property Group is pleased to market for sale the CVS property located at 148 Route 137 Harwich, Massachusetts ("The Property"). CVS has had a long successful operating history at this location (±25 years) and recently extended their lease early to a fresh 15 year term showing commitment to this location.
The Property allows for an investor to purchase a property with a high barrier-to-entry, exceptional sales volumes and lack of surrounding competition (no other freestanding CVS or Walgreens for over 5 miles). Sales volumes at the location have increased roughly 30% since 2020.
Harwich is located on the popular Cape Cod Peninsula, the desired vacation destination, bringing nearly 23 million domestic and international visitors to the area in 2022, accounting for nearly $24.2 billion in direct spending.
The Property is strategically situated, being the only stand-alone national brand drugstore in a 5-mile radius that supports an average household income of over $114,000.
