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Views: 303 DOM: 24 Updated: 08.28.24 Posted: 08.23.24 Status: Active

Summary

Price $5,181,000
Built/Renov 2015
Tenant CVS Pharmacy
Cap Rate 5.57%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,200
Lease Start 10-16-2015
#Units 9,395
Price/SF $364.86
Expiration 01-31-2041
Tenant Type Pharmacy
NOI $288,583
R. Term 16.4
Ownership Fee Simple
Rent/SF $20.32
Increases 0.0%/0/yrs
Pop 5Mi 67,104
Lot/AC 1.52
Options 10/5yrs
AHHI 5Mi $82,279

Lease Highlights

  • CVS Pharmacy has 16+ years remaining on the current lease term with 10 (5-year) options to extend
  • The lease features FMV rental escalations at the start of option 3
  • 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 North 14th Street and Erie Avenue, with access to a combined daily traffic count of 33,000 vehicles. The property is surrounded by well-known national tenants including Starbucks, Burger King, Domino's, AutoZone, Kwik Trip, and more. Additionally, it is close to key educational institutions including Jefferson...

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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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