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Views: 161 DOM: 422 Updated: 09.27.24 Posted: 09.26.23 Status: Active

Summary

Price $5,299,400
Built/Renov 2005
Tenant CVS Pharmcy
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,310
Lease Start 01-09-2006
#Units 9,395
Price/SF $346.14
Expiration 01-31-2031
Tenant Type Pharmacy
NOI $331,211
R. Term 6.2
Ownership Fee Simple
Rent/SF $21.63
Increases 11.0%/8/yrs
Pop 5Mi 127,910
Lot/AC 1.69
Options 10/5yrs/11%
AHHI 5Mi $154,783

Lease Highlights

  • CVS has been operating in this location since 2006
  • Tenant currently has 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Lease features 11% rental increase during the first option and FMV for remaining options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by CVS Corporation (NYSE: CVS)

Location Description

This CVS is conveniently located at the signalized intersection, with egress/ingress at Olio Road and E 116th St., which see a combined daily traffic count of 40,384 passing by daily. Nearby major nationals include Kroeger, Buffalo Wild Wings, Ace Hardware, Starbucks and more, creating a strong consumer drive to the trade area. There are roughly 127,910 people, earning an average household...

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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
2028 Total Population : 8,170 58,113 134,581
2023 Total Population : 7,401 54,909 127,910
2023 Employed Civilian Pop : 3,649 28,836 68,365
2023 Total Businesses : 213 927 2,266
2023 Average Household Income : $ 203,231 $ 182,771 $ 154,783
2023 Total Consumer Spending : $ 371 M $ 2741 M $ 5899 M
2023 Median Age : 34 35 35
2023 Total Households : 2,187 17,967 45,237
2023 Pop Age 25+: Bachelor's Degree : 2,010 15,606 35,218
2023 Average Home Value : $ 492,002 $ 437,329 $ 370,736
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Olio Rd E 116th St 2008 14,741 0.05 mi
Olio Road E 116th St 2018 16,918 0.09 mi
E 116th St Olio Rd 2017 23,466 0.14 mi
E 116th St John St 2008 1,746 0.15 mi
East 116th Street Gray Eagle Dr 2021 14,366 0.15 mi
Local Lakeridge Dr 2020 13,502 0.15 mi
113th Street Deer Stone Ln 2021 4,108 0.17 mi
Olio Rd E 113th St 2017 16,851 0.21 mi
Olio Road E 116th St 2021 22,185 0.27 mi
Ringer Rd E 113th St 2008 398 0.45 mi

Listing Broker

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