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Views: 95 DOM: 109 Updated: 10.18.24 Posted: 07.26.24 Status: Active

Summary

Price $3,759,543
Built/Renov 1980/2000
Tenant CVS Pharmacy
Cap Rate 10.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 17,204
Lease Start 12-13-2001
#Units 9,395
Price/SF $218.53
Expiration 01-31-2029
Tenant Type Pharmacy
NOI $375,954
R. Term 4.2
Ownership Fee Simple
Rent/SF $21.85
Increases 0.0%/0/yrs
Pop 5Mi 188,053
Lot/AC 1.47
Options 9/5yrs
AHHI 5Mi $89,731

Lease Highlights

  • CVS has been operating in this location since 2001
  • The tenant has 4+ years remaining on the current lease term with 9 (5-year) options to extend
  • The lease features FMR rental increases at the start of the 2nd 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 Chardon Road and Bishop Road, two of the area’s primary commercial and commuter corridors, with access to a combined daily traffic count of 33,800 vehicles. The property is seconds from the Shoppes at Willoughby Hills, a grocery-anchored shopping center, and is 0.4 miles from Interstate 90, 1.3 miles from US...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2028 Total Population : 6,891 73,130 188,557
2023 Total Population : 7,009 73,264 190,416
2023 Employed Civilian Pop : 3,856 37,566 97,585
2023 Total Businesses : 253 2,094 5,952
2023 Average Household Income : $ 76,347 $ 80,723 $ 78,876
2023 Total Consumer Spending : $ 232 M $ 2328 M $ 6045 M
2023 Median Age : 41 44 45
2023 Total Households : 3,462 33,231 88,225
2023 Pop Age 25+: Bachelor's Degree : 1,224 10,952 28,949
2023 Average Home Value : $ 261,618 $ 218,232 $ 204,177
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Chardon Rd Bishop Rd 2014 11,085 0.10 mi
Bishop Rd Plz Dr 2014 18,851 0.15 mi
Chardon Rd Fairview Dr 2014 5,735 0.19 mi
Bishop Road Bishop PkDr 2021 20,642 0.23 mi
Chardon Rd Emerald Lakes Ave 2016 13,687 0.28 mi
Chardon Road Stratford Way 2021 11,291 0.31 mi
Bishop Rd Eddy Rd 2014 18,850 0.37 mi
RAMP FROM SR84 TO IR90 EB Bishop Rd 2021 4,737 0.41 mi
RAMP FROM IR90 EB TO SR84 Bishop Rd 2021 6,630 0.43 mi
Chardon Rd Winchester Hill 2013 9,320 0.44 mi

Listing Broker

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