CVS Pharmacy

SOLD!

Situated in Ocean View, NJ, the property benefits from a strategic location just off Exit 20 on the Garden State Parkway, which carries approximately 40,000 vehicles per day and provides connectivity throughout Cape May County and the Jersey Shore. The site benefits from consistent year-round demand from residents, while also experiencing a significant seasonal influx of visitors. Ocean View is located just inland from popular shore destinations, such as Sea Isle, Ocean City, and Avalon.

• Investment Grade Credit: The lease is backed by CVS Health Corporation, which has a credit rating of BBB from both S&P and Fitch. CVS Health reported $402.1 billion in revenue in 2025, up 7.8% compared to the year prior.
• Strategic Location: The site is positioned immediately off the Garden State Parkway Exit 20, providing convenient access to Ocean City, Sea Isle City, Avalon, Stone Harbor, and surrounding shore points.
• Commitment to Location: CVS has been at this site since 2005, and recently exercised a 5-year renewal option, demonstrating a long-term commitment to the location and confidence in the store’s continued performance.
• Strong Rental Increases: The lease has built-in 6% rental increases in the option periods, helping to mitigate inflation risk, as well as enhancing long-term cash flow for investors.