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Views: 74 DOM: 165 Updated: 11.07.24 Posted: 07.09.24 Status: Active

Summary

Price $2,277,000
Built/Renov 1995
Tenant CVS Pharmacy
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,908
Lease Start 06-16-1996
#Units 9,395
Price/SF $208.75
Expiration 07-31-2034
Tenant Type Pharmacy
NOI $148,000
R. Term 9.7
Ownership Fee Simple
Rent/SF $13.57
Increases 5.0%/9/yrs
Pop 5Mi 37,130
Lot/AC 0.00
Options 3/5yrs/5%
AHHI 5Mi $89,493

Lease Highlights

  • CVS has been operating in this location for over 25 years
  • The tenant has 9+ 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 N Detroit Street and E Main Street, with access to a combined daily traffic count of 12,497 vehicles. The property is in proximity to major employers such as Zimmer Biomet and various Kosciusko County offices, along with key educational institutions including Warsaw Community High School, Edgewood Middle...

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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 : 5,881 25,869 37,074
2024 Total Population : 5,953 25,821 36,951
2024 Employed Civilian Pop : 2,647 12,897 18,448
2024 Total Businesses : 443 1,438 1,638
2024 Average Household Income : $ 73,145 $ 93,784 $ 98,115
2024 Total Consumer Spending : $ 166 M $ 846 M $ 1253 M
2024 Median Age : 37 36 37
2024 Total Households : 2,566 10,184 14,432
2024 Pop Age 25+: Bachelor's Degree : 749 3,762 5,233
2024 Average Home Value : $ 239,833 $ 276,925 $ 284,302
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Center Street N High St 2021 7,711 0.07 mi
East Main Street N Park Ave 2021 1,576 0.08 mi
Local N Detroit St 2020 1,322 0.09 mi
15 E Center St 2020 12,497 0.09 mi
SR 15 E Market St 2021 11,858 0.09 mi
East Market Street S Wood St 2021 4,451 0.11 mi
East Market Street 2019 4,737 0.11 mi
East Market Street S Detroit St 2021 5,387 0.12 mi
Local E Main St 2020 1,071 0.14 mi
North Detroit Street E Clark St 2021 15,034 0.16 mi

Listing Broker

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