CVS Pharmacy

6748 West 111th Street, Worth, IL 60482

$5,955,752

Cap Rate 5.65%

Views: 131 Updated: 10.05.24 Posted: 04.13.24 Status: Inactive 10.05.24

Summary

Price $5,955,752	Built/Renov 1996	Tenant CVS Pharmacy
Cap Rate 5.65%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 20,215	Lease Start 12-01-2019	#Units 9,395
Price/SF $294.62	Expiration 11-30-2039	Tenant Type Pharmacy
NOI $336,500	R. Term 14.11	Ownership Fee Simple
Rent/SF $16.65	Increases 5.0%/15/yrs	Pop 5Mi 285,964
Lot/AC 2.64	Options 5/5yrs/5%	AHHI 5Mi $99,474

Lease Highlights

CVS has 15+ years remaining on the current lease term with 5 (5-year) options to extend
The lease features 5% rental increases at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy, a MinuteClinic walk-in is strategically located on West 111th Street, with access to 27,300 vehicles passing by daily. The property is surrounded by well-known national retailers, including Chase Bank, Advance Auto Parts, Dollar Tree, Dunkin’, O’Reilly Auto Parts, and more. Additionally, it is situated across from Worth Elementary School and Worth Junior High. Furthermore, the...

...

Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Freeway close
Top 100 MSA
Strong demographics
Long 15+ yr lease
Absolute NNN
Traded and rated company
Investment grade tenant

...

Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Worth, Illinois Zip Code 60482 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 :	15,835	113,240	280,231
2023 Total Population :	16,250	116,043	287,620
2023 Employed Civilian Pop :	7,681	56,290	140,481
2023 Total Businesses :	391	4,284	8,449
2023 Average Household Income :	$ 76,376	$ 97,448	$ 99,199
2023 Total Consumer Spending :	$ 425 M	$ 3757 M	$ 9228 M
2023 Median Age :	40	42	41
2023 Total Households :	6,484	45,062	108,965
2023 Pop Age 25+: Bachelor's Degree :	1,643	16,710	39,010
2023 Average Home Value :	$ 227,247	$ 279,277	$ 273,046

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Oak Park Avenue	W 113th Pl	2022	2,150	0.23 mi
		2022	27,000	0.29 mi
Oak Park Ave	W Lode Dr	2014	2,750	0.29 mi
		2022	1,100	0.30 mi
W 111th St	Natchez Ave	2014	27,300	0.32 mi
W 110th St	S Worth Ave	2014	350	0.32 mi
West 111th Street	Octavia Ave	2022	27,000	0.42 mi
107th St	Oak PkAve	2018	2,650	0.46 mi
107th Street	107th St	2022	4,150	0.46 mi
South Ridgeland Avenue	W 111th St	2018	21,500	0.47 mi

Listing Broker

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
18467 Views
65 Sold

Randy Blankstein

The Boulder Group (HQ)

Contact

165 Listings
17850 Views
62 Sold

Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

...

Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

...

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