CVS

955 North 21st Street, Newark, OH 43055

$2,515,000

Cap Rate 5.00%

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 0.2	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

Andrew Fallon

SRS National Net Lease Group

Contact

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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Key Features

Signalized intersection
Hard corner intersection
In location for years
Near major nationals
Strategically located
Absolute NNN
Top performing store
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

CVS Wikipedia CVS Wikipedia Newark, Ohio Zip Code 43055 Broker Site Page

Maps

Local Information

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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