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Views: 60 DOM: 85 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 13.3
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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Listing Broker

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