Tenant Description
CVS Pharmacy is currently the second largest retail pharmacy in the US, behind Walgreens. These are generally higher price point deals, but great assets due to prime locations. CVS Health Corporation is a publicly traded company on the New York Stock Exchange and has been in business for more than 50 years with the start of first store in Lowell, Massachusetts. CVS Pharmacies began offering COVID vaccinations in early 2021 and have become an essential retailer during the COVID 19 pandemic.
What To Look For When Buying A CVS
High Price Point, NN or NNN Lease, Flat rent over primary term, High rental rates would prove difficult to replace
What We Like About CVS
Investment grade tenant, Great Real Estate (often on hard corners), Large Parcels (1.0+ Acres), Best Credit Rating in Pharmacy Sector
Competition
What Is Sold In A CVS
CVS sells prescription drugs and a wide assortment of general merchandise (beauty products and cosmetics, over the counter drugs, groceries, film and photo finishing services, seasonal merchandise, greeting cards, etc.) through their physical CVS Pharmacy and online through CVS.com. It also provides healthcare services at some of their CVS locations.
CVS Website
Corporate Office Location
One CVS Drive – Woonsocket, Rhode Island 02895
Fast Facts
Its parent company (CVS Health Corporation) ranked #7 on Fortune 500 for largest U.S corporations by revenue
As of 2019 CVS Pharmacy operates more than 9,750 retail pharmacies
