CVS Pharmacy

303 South State Street, Jerseyville, IL 62052

$4,375,900

Cap Rate 7.50%

Views: 66 DOM: 110 Updated: 09.05.24 Posted: 05.21.24 Status: Active

Summary

Price $4,375,900	Built/Renov 2015	Tenant CVS Pharmacy
Cap Rate 7.50%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 11,945	Lease Start 08-24-2015	#Units 9,395
Price/SF $429.24	Expiration 01-31-2041	Tenant Type Pharmacy
NOI $328,145	R. Term 16.5	Ownership Fee Simple
Rent/SF $27.47	Increases 5.0%/17/yrs	Pop 5Mi 10,817
Lot/AC 1.49	Options 5/5yrs/5%	AHHI 5Mi $77,619

Lease Highlights

CVS has 16+ 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
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of S State Street and E Carpenter Street with access to 22,750 vehicles per day. The property is within close proximity to numerous national/credit tenants including Domino’s, Dairy Queen, Dollar General, McDonalds and Auto zone. Additionally, the tenant is less than 2 miles from Jersey Community Hospital providing a...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Strategically located
Hospital close
Top 100 MSA
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Jerseyville, Illinois Zip Code 62052 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 and...

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Listing Broker

Mark Ruble

Marcus & Millichap: NLAG

Contact

180 Listings
17061 Views
100 Sold

Chris Lind

Marcus & Millichap: NLAG

Contact

179 Listings
16971 Views
99 Sold

Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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