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Views: 101 DOM: 165 Updated: 10.30.24 Posted: 07.09.24 Status: Active

Summary

Price $4,838,000
Built/Renov 1997/2009
Tenant CVS Pharmacy
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,125
Lease Start 07-27-1997
#Units 9,395
Price/SF $477.83
Expiration 07-31-2039
Tenant Type Pharmacy
NOI $290,253
R. Term 14.7
Ownership Fee Simple
Rent/SF $28.67
Increases 5.0%/15/yrs
Pop 5Mi 120,474
Lot/AC 1.41
Options 3/5yrs/5%
AHHI 5Mi $142,723

Lease Highlights

  • CVS has been operating in this location for over 25 years
  • The tenant has 14+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period

  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of Market Street and Highland Street, with access to a combined daily traffic count of 14,100 vehicles. The property features multiple points of access and is surrounded by a mix of local and well-known national retailers, including McDonald’s, 7-Eleven, Walgreens, Dunkin’, Dollar Tree, O’Reilly Auto Parts, and...

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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
2029 Total Population : 9,454 48,995 121,558
2024 Total Population : 9,484 48,946 120,723
2024 Employed Civilian Pop : 5,795 28,194 67,641
2024 Total Businesses : 358 1,739 5,123
2024 Average Household Income : $ 122,837 $ 148,661 $ 149,696
2024 Total Consumer Spending : $ 397 M $ 2413 M $ 5856 M
2024 Median Age : 41 42 42
2024 Total Households : 3,766 19,007 45,813
2024 Pop Age 25+: Bachelor's Degree : 1,762 9,790 22,825
2024 Average Home Value : $ 610,990 $ 647,740 $ 633,939
*ESRI data is presented for informational purposes only

Listing Broker

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