CVS Pharmacy

For Sale

241 Mohawk Avenue, Scotia, NY 12302

This Scotia property for sale is located at 241 Mohawk Avenue. The current listed sale price for CVS Pharmacy is $8,660,480. CVS Pharmacy is situated on a lot that is 1.2 acre in size.

Contacts

broker

Kase Abusharkh

The Kase Group

Property Details

  • Property Type Retail - Freestanding
  • Property Size 11,945 SF
  • Lot Size 1.2 Acre
  • Additional Rent Contact for pricing
  • Date Updated Oct 8, 2024
Scotia is a village in Schenectady County, New York, United States, incorporated in 1904. The population was 7,272 at the 2020 census. Scotia is part of the town of Glenville, and is connected with the city of Schenectady by the Western Gateway Bridge over the Mohawk River.This is a rare CVS/pharmacy absolute NNN leased offering in Scotia, New York. The original 25 year lease calls for zero landlord obligations There are scheduled increases in rent after 10 years, 20 years, and every 5 years thereafter. Beyond the initial term, there are four 5 year renewal options followed by one 3 year renewal option. The lease is guaranteed by CVS Health. Scotia is a village adjacent to Schenectady, NY and part of the Albany MSA in Upstate New York. The asset is well situated on a major commercial thoroughfare and has excellent access and visibility at a signalized intersection. There is a drive through and ingress and egress from both Mohawk Avenue and Glen Avenue to the rear of the lot. The site has served as a pharmacy since the mid-1990’s. Originally a Brooks Pharmacy that was taken over by CVS, this is a complete teardown and rebuild of the older, functionally obsolete building. The old building had no drive-thru and no stockroom. It was poorly lit and had deferred maintenance yet was doing nearly $11 Million in annual sales. The new building was completed in 2018 along with the acquisition and assemblage of several additional lots to create ample parking and make way for the drive-thru. There are no kickouts and no rent holidays.

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Highlights

  • CVS/PHARMACY 25 YEAR ABSOLUTE NNN LEASE WITH 18+ YEARS REMAINING
  • ZERO LANDLORD OBLIGATIONS
  • 100% FEE SIMPLE INTEREST
  • NEW HIGH QUALITY 2018 CONSTRUCTION
  • TEARDOWN AND REBUILD OF OLDER STORE - PREVIOUS STORE WAS DOING NEARLY $11 MILLION IN SALES
  • NO KICK-OUTS - NO RENT HOLIDAYS
  • SCHEDULED INCREASES IN RENT
  • CVS HEALTH CORPORATE LEASE - NYSE: CVS - S&P RATED
  • BBB INVESTMENT GRADE CREDIT
  • LOCATED ON A MAJOR COMMERCIAL THOROUGHFARE AT SIGNALIZED INTERSECTION
  • PROPERTY INCLUDES A DRIVE-THRU PHARMACY

Attachments

Getting around

  • 80/100

    Walk Score ®

  • 68/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Scotia, NY
  • Neighborhood Scotia
  • Zip Code 12302
  • Market Albany

Points of Interest

  • Schenectady

    1.48 miles

  • Albany International Airport Taxi Stand

    9.73 miles

  • Mobil

    0.35 miles

  • Country Farms

    1.50 miles

  • Alltown Fresh Gas

    1.53 miles

  • Speedway

    1.70 miles

  • Stewart's

    1.84 miles

  • Citgo

    1.84 miles

  • Sunoco

    1.97 miles

  • Lukoil

    2.15 miles

  • YWCA of Schenectady

    1.10 miles

  • Mohawk Hudson Bike-Hike Trail

    1.12 miles

  • Great Flats Nature Trail

    1.20 miles

  • Amtrak Station Parking

    1.47 miles

  • Pinhead Susan's

    1.54 miles

  • Predel Scrapyard

    1.54 miles

  • Schenectady Municipal Parking Garage

    1.55 miles

  • Rivers Casino Parking Garage

    1.55 miles

  • Center City Lot

    1.56 miles

  • Walmart Glenville

    1.62 miles

  • Subway

    0.04 miles

  • Attanasio's Restaurant & Banquet House

    0.30 miles

  • Scotia Diner

    0.31 miles

  • Turf Tavern

    0.32 miles

  • Dunkin'

    0.40 miles

  • Glen Sanders Mansion

    0.49 miles

  • Jumpin' Jack's Drive In

    0.59 miles

  • KFC

    1.28 miles

  • Bountiful Bread

    1.28 miles

  • Moon and River Cafe

    1.30 miles

  • Gabriels

    0.03 miles

  • Walmart Supercenter

    1.52 miles

  • ViaPort Rotterdam

    1.63 miles

  • B J's Wholesale Club

    2.15 miles

  • ALDI

    2.59 miles

  • Market32

    3.06 miles

  • Price Chopper

    3.12 miles

  • Walmart

    3.12 miles

  • Hannaford

    3.26 miles

  • Gabriel's Supermarket

    3.28 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Kase Abusharkh

The Kase Group