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Views: 104 DOM: 159 Updated: 07.26.24 Posted: 06.15.24 Status: Active

Summary

Price $3,912,416
Built/Renov 1999
Tenant CVS Pharmacy
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,908
Lease Start 01-29-2000
#Units 9,395
Price/SF $358.67
Expiration 12-31-2037
Tenant Type Pharmacy
NOI $234,745
R. Term 13.1
Ownership Fee Simple
Rent/SF $21.52
Increases 5.0%/13/yrs
Pop 5Mi 20,219
Lot/AC 1.27
Options 4/5yrs/5%
AHHI 5Mi $68,692

Lease Highlights

  • CVS has been operating in this location for 24+ years
  • The tenant has 13+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the busy hard corner intersection of S Jefferson Ave and E Ferguson Road, two primary thoroughfares, with access to a combined daily traffic count of 42,700 vehicles. The property is situated within a dense retail trade area, down the street from a Walmart Supercenter, and is surrounded by other well-known national tenants including Harbor Freight...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 6,630 14,367 20,186
2024 Total Population : 6,751 14,599 20,427
2024 Employed Civilian Pop : 3,193 6,963 9,379
2024 Total Businesses : 482 967 1,063
2024 Average Household Income : $ 64,864 $ 67,630 $ 73,185
2024 Total Consumer Spending : $ 131 M $ 300 M $ 461 M
2024 Median Age : 33 33 35
2024 Total Households : 2,238 4,944 7,035
2024 Pop Age 25+: Bachelor's Degree : 312 777 1,393
2024 Average Home Value : $ 182,425 $ 204,296 $ 239,692
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Ferguson Road S Jefferson Ave 2022 9,542 0.05 mi
S Jefferson Ave Stella St 2016 18,258 0.06 mi
South Jefferson Avenue White St 2020 20,769 0.09 mi
South Jefferson Avenue White St 2022 24,266 0.09 mi
South Madison Avenue Ferguson Rd 2019 16,414 0.26 mi
West Ferguson Road S Madison St 2022 14,268 0.27 mi
S Jefferson Ave W Arizona St 2002 20,000 0.29 mi
West 1st Street N Madison 2022 2,653 0.47 mi
N Jefferson Ave E 2nd St 2002 18,900 0.51 mi
West 3rd Street N Madison 2022 16,528 0.56 mi

Listing Broker

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