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Views: 23 DOM: 15 Updated: 10.03.24 Posted: 10.03.24 Status: Active

Summary

Price $4,650,000
Built/Renov 2010
Tenant CVS Pharmacy (GL)
Cap Rate 5.20%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,225
Lease Start 02-12-2010
#Units 9,395
Price/SF $351.61
Expiration 01-31-2036
Tenant Type Pharmacy
NOI $242,000
R. Term 11.3
Ownership Ground Lease
Rent/SF $18.30
Increases 10.0%/5/yrs
Pop 5Mi 284,737
Lot/AC 1.19
Options 5/5yrs/10%
AHHI 5Mi $102,015

Lease Highlights

  • CVS has been operating in this location since 2010
  • The tenant has 11+ years remaining on the current ground lease term with 5 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout hate initial term and option periods
  • 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 Cleary Avenue and W Napoleon Avenue, with access to a combined daily traffic count of 22,725 vehicles. This location ranks in the 92nd percentile, making it the 8th best-performing store out of 111 CVS locations in Louisiana, according to Placer.ai. The site is conveniently situated near the corporate...

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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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Listing Broker

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