2660 Jerusalem Ave
Bellmore, NY 11710

The fee interest lease to Jerusalem North Bellmore CVS, Inc. features a base term through January 31, 2018 with four (4) five-year options remaining on its lease, with 8.0% rent escalations coiciding with those option periods. The asset requires zero landlord responsibility and is subject to an existing ground lease backed by a substantially below-market underlying lease. Positioned at the intersection of Route 105 (Jerusalem Avenue) and Bellmore Road, this asset is located just minutes from Southern State Parkway, one of the major highways that services the communities on Long Island. This freestanding location is positioned in a market that is well covered by CVS/pharmacy, with six locations within a three-mile radius. However, four of these stores are positioned inline within larger shopping centers, serving as evidence that this asset is a strategic location for the retailer in this trade area.