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Views: 193 DOM: 167 Updated: 08.30.24 Posted: 06.01.24 Status: Active

Summary

Price $2,619,000
Built/Renov 2000
Tenant CVS Pharmacy
Cap Rate 6.30%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,125
Lease Start 04-17-2000
#Units 9,395
Price/SF $258.67
Expiration 09-30-2034
Tenant Type Pharmacy
NOI $165,000
R. Term 9.10
Ownership Fee Simple
Rent/SF $16.30
Increases 5.0%/10/yrs
Pop 5Mi 91,816
Lot/AC 1.61
Options 5/5yrs/5%
AHHI 5Mi $68,190

Lease Highlights

  • CVS has been operating in this location for 24 years
  • The tenant has 10+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for structure
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at a signalized, hard corner intersection of Charleston Highway and N Eden Drive, with access to a combined daily traffic count of 21,654 vehicles. The property benefits from multiple points of ingress and egress, along with limited competition in the area, as the nearest CVS is approximately 3.4 miles away. Nearby, well-known national tenants include Food...

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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 : 3,532 25,126 93,939
2024 Total Population : 3,435 24,269 91,362
2024 Employed Civilian Pop : 1,375 11,269 42,750
2024 Total Businesses : 143 1,502 5,763
2024 Average Household Income : $ 82,270 $ 76,576 $ 73,652
2024 Total Consumer Spending : $ 110 M $ 750 M $ 2570 M
2024 Median Age : 41 40 31
2024 Total Households : 1,518 11,048 39,083
2024 Pop Age 25+: Bachelor's Degree : 420 3,697 12,122
2024 Average Home Value : $ 194,741 $ 249,961 $ 265,078
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Eden Drive Charleston Hwy 2022 2,600 0.09 mi
Charleston Highway Moss Creek Dr 2022 22,100 0.33 mi
Old Dunbar Road Rawhide Ct 2022 10,500 0.49 mi
I- 26 Old Dunbar Rd 2018 86,700 0.63 mi
Taylor Road Frink St 2022 2,100 0.73 mi
Barnswallow Dr Sunnyside Dr 2013 25 0.75 mi
Sunnyside Drive Westview Dr 2022 1,650 0.83 mi
Airport Boulevard Westmoreland Ln 2021 32,400 1.02 mi
Airport Boulevard Trade Zone Dr 2022 33,800 1.02 mi
North Eden Drive Shady Ln 2021 750 1.03 mi

Listing Broker

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