CVS Pharmacy

3808 East Washington Street, Indianapolis, IN 46201

$1,947,000

Cap Rate 8.50%

Views: 80 DOM: 79 Updated: 11.08.24 Posted: 10.04.24 Status: Active

Summary

Price $1,947,000	Built/Renov 1996	Tenant CVS Pharmacy
Cap Rate 8.50%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 12,585	Lease Start 09-01-1996	#Units 9,395
Price/SF $154.71	Expiration 08-31-2026	Tenant Type Pharmacy
NOI $165,500	R. Term 1.8	Ownership Fee Simple
Rent/SF $13.15	Increases 5.0%/2/yrs	Pop 5Mi 254,571
Lot/AC 1.03	Options 3/5yrs/5%	AHHI 5Mi $75,055

Lease Highlights

CVS has been operating in this location since 1996
The tenant has 1 year remaining on the current lease term with 3 (5-year) options to extend
The lease features 5% rental increases at the start of each option periods
Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of East Washington Street and North Sherman Drive with access to 37,300 vehicles passing by daily. The property is conveniently situated less than 2 miles from the access ramps of Interstates 65 and 70, with a combined 302,500 VPD. The immediate area is home to a dense retail corridor with neighboring tenants...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Long operation history
Traded and rated company
Investment grade tenant

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Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Indianapolis, Indiana Zip Code 46201 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

Marc Mandel

Forged Real Estate

Contact

42 Listings
8208 Views
8 Sold

Steve Schrenk

Forged Real Estate

Contact

42 Listings
8191 Views
8 Sold

Marc Mandel

Marc Mandel is the co-founder and Managing Principal of Forged Real Estate. Marc has over 18 years of experience in the commercial real estate industry and currently leads the team at Forged Real Estate with a focus on single-tenant, sale-leaseback, and small shopping center investment advisory services throughout the country. He has completed over 820 transactions throughout his career with a value of approximately $1.6 billion. Prior to founding Forged Real Estate, Marc previously was one of

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Steve Schrenk

Steve Schrenk is the co-founder and Principal of Forged Real Estate. Steve specializes in the acquisition and disposition investment advisory services of single-tenant and multi-tenant net lease properties, sale-leasebacks, and small shopping centers throughout the country. Since 2018, Steve has been involved in 300+ transactions totaling over $1 billion in total volume. Steve is a knowledgeable real estate professional with years of experience who prides himself on the team’s client centric an

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