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Views: 87 Updated: 05.29.24 Posted: 08.29.23 Status: Inactive

Summary

Price $2,515,000
Built/Renov 1998
Tenant CVS
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,242
Lease Start 12-01-1998
#Units 9,900
Price/SF $245.56
Expiration 01-31-2025
Tenant Type Pharmacy
NOI $125,730
R. Term 0.1
Ownership Fee Simple
Rent/SF $12.28
Increases 0.0%/0/yrs
Pop 5Mi 73,856
Lot/AC 1.75
Options 7/5yrs
AHHI 5Mi $82,952

Lease Highlights

  • CVS has been operating at this location for 24+ years
  • Tenant exercised their 5 year option with 7 (5-year) options remaining
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease
  • CVS is an investment grade tenant (S&P: BBB)

Location Description

CVS is strategically located at the signalized, hard corner intersection of N. 21st St. & Meadowbrook Dr. with a traffic count of 32,800 vehicles passing by daily. This high-performing location added a minute clinic in 2015, and ranks in the top 40% of all CVS stores nationwide. The surrounding area is supported by national/credit retailers such as Walmart Supercenter, Kroger, The Home Depot,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS
  • Guarantor:Corp T and Rated
  • Company:CVS Corporation
  • # Units:9,900
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • 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 : 9,974 53,835 74,395
2023 Total Population : 9,933 53,696 74,070
2023 Employed Civilian Pop : 4,804 24,618 34,510
2023 Total Businesses : 317 1,810 2,654
2023 Average Household Income : $ 77,934 $ 75,165 $ 85,893
2023 Total Consumer Spending : $ 300 M $ 1482 M $ 2251 M
2023 Median Age : 42 40 40
2023 Total Households : 4,396 22,533 30,087
2023 Pop Age 25+: Bachelor's Degree : 1,454 6,084 9,215
2023 Average Home Value : $ 184,330 $ 192,338 $ 224,539
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N 21st St Jackson Blvd 2012 29,940 0.13 mi
Jackson Blvd Cleveland Ave 2012 1,960 0.15 mi
N 21st St Jackson Blvd 2012 32,801 0.16 mi
Moull Street King Ave 2021 2,153 0.36 mi
PIERSON BLVD Pierson Dr 2020 4,361 0.42 mi
Pierson Blvd Drexel Ave 2018 2,243 0.46 mi
Grafton Rd Stare Rd 2018 1,039 0.48 mi
North 21st Street Granville St 2021 26,033 0.50 mi
Grafton Road 2019 1,055 0.53 mi
Grafton Road Pierson Bl 2021 853 0.53 mi

Listing Broker

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