Marcus & Millichap brokers sale of 10,125 s/f CVS pharmacy for $4.62 million

Norton, MA Marcus & Millichap brokered the sale of CVS Pharmacy a 10,125 s/f net-leased property. The asset sold for $4.62 million.

“CVS has operated for over 20 years at this strategic location within the small college town,” said Laurie Ann “L.A.” Drinkwater, senior vice president investments. “Their success at this location is evidenced by the recent early extension of their long-term lease. We expect the property to continue performing well for the new owners.”

Drinkwater and Seth Richard, investment specialists in Marcus & Millichap’s Boston and Manhattan office, had the exclusive listing to market the property on behalf of the seller, an LLC. Tom Shihadeh, Marcus & Millichap’s broker of record in MA, assisted in closing this transaction.

Constructed in 2000 on 1.54 acres, the CVS Pharmacy is located at 35 W. Main St. within the downtown district adjacent to an ACE Hardware and opposite a Walgreens Pharmacy. There are three means of ingress and egress for the property making this location easily accessible. Notable economic drivers in the immediate vicinity include Wheaton College one quarter of a mile away as well as access to I-495 and I-95 leading to Cape Cod, Providence, RI and Boston, MA.