CVS - Watertown, MA — Sale in Watertown, MA

  • Price: $406
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Watertown, MA 02472
  • Size: 12,113 SF

Photos

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Investment Figures

Cap rate
6.15%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire CVS Pharmacy, located at 27 Main St, Watertown, MA 02472 (the “Property” or “Asset”). The tenant operates under an absolute NNN lease with a corporate guaranty and over 10 years of primary term remaining with zero management responsibility. CVS Pharmacy, Inc. (NYSE: CVS; S&P: BBB) is a leading healthcare services and retail pharmacy chain headquartered in the United States. CVS operates a nationwide network serving millions of customers through pharmacy benefit management, retail pharmacy locations, and a range of health services. With approximately $405.6 billion in TTM March 2026 revenue, over 300,000 employees, and more than 9,000 stores, CVS maintains a significant presence in the healthcare and retail pharmacy sectors. CVS continues to leverage its integrated platform and distribution capabilities, positioning itself as one of the largest and most diversified healthcare service providers and pharmacy retailers in North America. CVS sits on a 0.4-acre site in the heart of Watertown’s main transportation corridor and is strategically positioned just 8-miles west of Boston, MA. Located at the corner of Main Street (24,800+ VPD) and Merchants Row, the Asset receives unique visibility from multiple roadways including the hard-corner, signalized intersection of Pleasant Street, which provides connectivity to Galen St and subsequently I-90, accommodating a combined 167,000 vehicles per day. This location benefits from being in one of Boston’s fastest growing areas. The immediate vicinity is densely populated, with over 658,000 residents within a five-mile radius that has grown by 8.0% since 2010. Within that same area, there are more than 267,000 households with an average income exceeding $189,000, reflecting the city's ongoing appeal and strong development momentum. This offering presents investors with an exceptional opportunity to acquire an asset providing secure, long-te

Market Context

This retail in Watertown, MA is listed for sale at $406 across 12,113 SF. It is offered at an approximate 6.2% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Watertown, MA — view the full market.

As of Q4 2025, the Boston retail market showed a 3.2% vacancy rate, average asking rents near $24.93/SF/yr, rents up 2.5% year over year, and cap rates around 7.3%. Source: Matthews Q4 2025 market report.

Its 6.2% asking cap rate is below the Boston retail market average of about 7.3%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

What is the typical cap rate for retail in Boston?
About 7.3% as of Q4 2025, per Matthews.
Is the Boston retail market tightening or softening?
Vacancy is around 3.2%, with asking rents rising year over year (Q4 2025).

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