CVS

4050 Dean Lakes Blvd, Shakopee, MN 55379

$3,559,000

Cap Rate 9.85%

Views: 2057 DOM: 303 Updated: 09.30.24 Posted: 01.23.24 Status: Contract 09.30.24

Summary

Price $3,559,000	Built/Renov 2006	Tenant CVS
Cap Rate 9.85%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,699	Lease Start 12-31-2007	#Units 9,900
Price/SF $242.13	Expiration 01-01-2033	Tenant Type Pharmacy
NOI $350,526	R. Term 8.1	Ownership Fee Simple
Rent/SF $23.85	Increases 0.0%/0/yrs	Pop 5Mi 109,856
Lot/AC 1.73	Options 10/5yrs	AHHI 5Mi $178,311

John Zikos

Venture Commercial

Contact

Lease Highlights

CVS has been operating in this location for 15+ years
Offering includes 36-month free rent period at the end of the base term of the lease
The tenant has 8+ years remaining on their current lease term with 10 (5-year) options to extend
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of Dean Lake Blvd and Mystic Lake Dr, which has a combined daily traffic count of 35,146 vehicles. Additionally, the property benefits from its convenient proximity to Hwy 169, experiencing a traffic count of 45,500 VPD. In the surrounding area, notable national tenants include Lowe's, Dollar Tree, Joann, McDonald's, and...

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Key Features

Signalized intersection
Hard corner intersection
Dense 100M+ pop 5 mi
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Shakopee, Minnesota Zip Code 55379 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CVS
Guarantor:Corp T and Rated
Company:CVS Health Corporation
# Units:9,900
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
2028 Total Population :	4,521	42,640	109,223
2023 Total Population :	4,194	40,564	106,587
2023 Employed Civilian Pop :	2,070	21,408	58,370
2023 Total Businesses :	145	926	2,490
2023 Average Household Income :	$ 126,721	$ 136,405	$ 158,619
2023 Total Consumer Spending :	$ 144 M	$ 1623 M	$ 5042 M
2023 Median Age :	31	34	37
2023 Total Households :	1,361	13,971	37,523
2023 Pop Age 25+: Bachelor's Degree :	719	7,917	25,193
2023 Average Home Value :	$ 348,332	$ 384,127	$ 459,088

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Canterbury Rd	Shakopee Byp	2017	23,300	0.11 mi
Canterbury Road South	Secretariat Dr	2022	23,681	0.11 mi
Eagle Creek Boulevard	Village Square Blvd W	2022	8,700	0.19 mi
Canterbury Downs Blvd	Shakopee Byp	2019	23,900	0.19 mi
Eagle Creek Boulevard		2017	8,400	0.19 mi
Eagle Creek Boulevard	Tyrone Dr S	2022	10,500	0.20 mi
CON 5677	Shakopee Byp	2021	11,084	0.26 mi
	Shakopee Byp	2022	11,084	0.26 mi
	Canterbury Rd	2022	11,365	0.32 mi
CON 5111	Disc Dr	2021	3,393	0.33 mi

Listing Broker

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