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Views: 60 DOM: 87 Updated: 08.12.24 Posted: 06.13.24 Status: Active

Summary

Price $4,151,000
Built/Renov 2003
Tenant CVS Pharmacy
Cap Rate 8.32%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 8,232
Lease Start 01-01-2008
#Units 9,395
Price/SF $504.25
Expiration 01-31-2033
Tenant Type Pharmacy
NOI $345,272
R. Term 8.4
Ownership Fee Simple
Rent/SF $41.94
Increases 0.0%/0/yrs
Pop 5Mi 551,150
Lot/AC 0.84
Options 9/5yrs
AHHI 5Mi $94,538

Lease Highlights

  • CVS has been operating in this location since 2008
  • The tenant has 8+ years remaining on the current lease term with 9 (5-year) options to extend
  • The lease features fluctuating rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of Lincoln Drive and West Mountain Pleasant Avenue, with access to 30,000 vehicles passing by daily. The property is in a dense retail corridor surrounded by well-known national tenants including Walmart Supercenter, Target, Whole Foods, Home Depot, Burlington, Aldi, Grocery Outlet, and more. Furthermore, it is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS Pharmacy
  • Guarantor:Corp T and Rated
  • Company:CVS Health Corporation
  • # Units:9,395
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • 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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Listing Broker

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