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Virtual Drive-By

CVS Pharmacy Absolute NNN

39820 Hickman Plaza Rd · Bethany Beach, DE 19930 · Pharmacy

Asking price
$1,454,190
Cap rate
NOI
$232,385

Need financing on this deal

We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeAbsolute NNN
Term remaining9.3 yrs
Expiration10/2035
Rent bumps10% at each option
Options5, 5-Year
Ground leaseYes
Credit profileCredit Rated + Corporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF13,300
Price / SF$119
Year built2010
Lot size1.26 ac
TypePharmacy/Drug
Days on market129

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

Zero Cash Flow Structure with Paydown/Readvance

Dominant Retail Pharmacy Brand

Investment Grade Guaranty

Tourist Community Location with Affluent Demographics

Minimal Competition

Absolute Net Lease

100% Depreciation Benefits on Leasehold Interest

Property overview

Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the leasehold interest in a single-tenant CVS Pharmacy location in Bethany Beach, Delaware.​ The absolute net lease structure provides for a passive, secure investment with no responsibilities for the Landlord.​

The Property features non-recourse, zero cash flow structured financing that is readily assumable.​ The structure is ideal for tax-deferred 1031/1033 exchange buyers or non-exchange buyers seeking passive losses that may be used to offset income from other real estate investments.​

Take the next step on this property

We represent buyers on a cooperating commission basis. On the majority of transactions there is no separate fee to you.

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Property details and lease terms are open. Photography, the offering memorandum, lease abstract and due diligence materials are shared with registered buyers.

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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.