CVS Pharmacy

3130 Portland Avenue, Louisville, KY 40212

$1,719,791

Cap Rate 6.85%

Views: 124 DOM: 308 Updated: 09.06.24 Posted: 02.18.24 Status: Active

Summary

Price $1,719,791	Built/Renov 1962	Tenant CVS Pharmacy
Cap Rate 6.85%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 9,258	Lease Start 01-01-2018	#Units 9,395
Price/SF $185.76	Expiration 12-31-2027	Tenant Type Pharmacy
NOI $117,805	R. Term 3.0	Ownership Fee Simple
Rent/SF $12.72	Increases 5.0%/3/yrs	Pop 5Mi 547,754
Lot/AC 0.40	Options 5/5yrs/5%	AHHI 5Mi $70,241

Kaveh Ebrahimi

Helios

Contact

Lease Highlights

CVS has 3+ years remaining on the current lease term with 5 (5-year) options to extend
The lease features 5% rental escalations at the start of each option period
Corporate guarantee (NYSE: CVS)
Investment grade tenant (S&P: BBB)

Location Description

CVS Pharmacy is strategically located on Portland Ave, with access to 3,967 vehicles passing by daily. The surrounding area hosts well-known national tenants such as Kroger, Family Dollar, Save A Lot, Long John Silver’s, Metro by T-Mobile, and many others. Moreover, the property is conveniently located just 15 minutes away from the University of Louisville, which boasts an enrollment of over...

...

Key Features

In location for years
Near major nationals
Strategically located
Dense 200M+ pop 5 mi
Top 100 MSA
Long operation history
Limited competition
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Louisville, Kentucky Zip Code 40212 Broker Site Page

Maps

Local Information

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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,608	82,983	199,663
2023 Total Population :	9,498	82,603	198,623
2023 Employed Civilian Pop :	3,101	33,586	91,606
2023 Total Businesses :	166	4,587	10,697
2023 Average Household Income :	$ 46,515	$ 53,732	$ 58,920
2023 Total Consumer Spending :	$ 159 M	$ 1630 M	$ 4510 M
2023 Median Age :	38	38	38
2023 Total Households :	3,871	34,310	86,853
2023 Pop Age 25+: Bachelor's Degree :	412	6,130	19,394
2023 Average Home Value :	$ 135,558	$ 187,873	$ 206,376

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Portland Ave	N 32nd St	2010	3,520	0.07 mi
Northwestern Pkwy	N 33rd St	2010	1,060	0.09 mi
N 33rd St	Northwestern Pkwy	2010	1,200	0.10 mi
N 33rd St	Northwestern Pkwy	2010	490	0.13 mi
Northwestern Pkwy	N 33rd St	2010	3,760	0.13 mi
Northwestern Pkwy	N 34th St	2011	3,540	0.21 mi
Portland Ave	N 30th St	2012	4,003	0.22 mi
Bank St	Bank Ct	2010	6,060	0.23 mi
I- 64	N 27th St	2015	60,628	0.24 mi
North 35th Street	Pflanz Ave	2018	4,580	0.27 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT