CVS 2 Ashton Rd

KLNB Retail Capital Markets is pleased to present the exclusive opportunity to purchase a CVS ground lease located at 2 Ashton Road in Ashton, Maryland (Montgomery County). CVS was constructed in this high barrier to entry market in 2016 and signed a long-term Absolute NNN Ground Lease for 25 years. CVS has over 16 years remaining on their base term and four, five-year options with 10% rental increases in each.
This CVS offers an investor the opportunity to acquire generational real estate situated within an affluent submarket. The property is well located at the signalized intersection of New Hampshire Avenue and Ashton Road, two of the submarkets primary commuter roads. CVS has clear access and visibility at the intersection with multiple points of ingress and egress along the two roads. This CVS has high residual value in that the overall site sits on 1.53 acres in an extremely high barrier to entry market. This CVS is the only national pharmacy within a three-mile radius, and 1 of 3 within a five-mile radius, allowing it to directly service the needs of the surrounding residential communities. There are over 96,000 residents within a five-mile radius and exceptionally high average household incomes of over $200,000, with continued projected population growth through 2029.