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Views: 80 DOM: 141 Updated: 07.15.24 Posted: 07.15.24 Status: Active

Summary

Price $2,517,800
Built/Renov 2000
Tenant CVS Pharmacy
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 11,326
Lease Start 08-04-2000
#Units 9,395
Price/SF $222.30
Expiration 08-03-2030
Tenant Type Pharmacy
NOI $151,068
R. Term 5.8
Ownership Fee Simple
Rent/SF $13.34
Increases 5.0%/5/yrs
Pop 5Mi 145,982
Lot/AC 1.38
Options 4/5yrs/5%
AHHI 5Mi $65,369

Lease Highlights

  • CVS has been operating at this location for 23+ years
  • Tenant signed a 12-year lease extension in 2018 | 6+ years remaining with 4 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of Youree Drive and Kings Highway, featuring two points of entry and a combined daily traffic count of 37,794 vehicles. The property is ideally situated in a dense retail trade area, adjacent to a Walmart Supercenter, and less than 4 miles from the Barksdale Air Force Base Facility, one of the largest and most...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS Pharmacy
  • Guarantor:Corp T and Rated
  • Company:CVS Health Corporation
  • # Units:9,395
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: CVS

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 8,085 59,717 140,669
2024 Total Population : 8,501 61,661 144,840
2024 Employed Civilian Pop : 4,303 27,810 63,251
2024 Total Businesses : 611 5,687 10,391
2024 Average Household Income : $ 72,801 $ 78,590 $ 69,345
2024 Total Consumer Spending : $ 242 M $ 1957 M $ 3906 M
2024 Median Age : 38 37 37
2024 Total Households : 3,774 28,032 63,223
2024 Pop Age 25+: Bachelor's Degree : 1,294 7,639 15,359
2024 Average Home Value : $ 196,908 $ 240,776 $ 218,030
*ESRI data is presented for informational purposes only

Listing Broker

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