CVS Pharmacy

1008 West Garfield Avenue, Bartonville, IL 61607

$3,518,333

Cap Rate 6.00%

Views: 62 DOM: 118 Updated: 07.26.24 Posted: 05.21.24 Status: Active

Summary

Price $3,518,333	Built/Renov 2000	Tenant CVS Pharmacy
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,113	Lease Start 10-01-2019	#Units 9,395
Price/SF $347.90	Expiration 09-30-2039	Tenant Type Pharmacy
NOI $211,100	R. Term 15.0	Ownership Fee Simple
Rent/SF $20.87	Increases 2.5%/15/yrs	Pop 5Mi 62,000
Lot/AC 1.54	Options 6/5yrs/2.5%	AHHI 5Mi $79,398

Lease Highlights

CVS Pharmacy has a 20+ year operating history in this location
The tenant recently extended their lease and has 15+ years of firm term remaining with 6 (5-year) options to extend
The lease featues 2.5% rental increases at the start of each renewal option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located on a highly visible corner parcel at the signalized intersection of S Lafayette Avenue and W Garfield Avenue, the area’s primary commercial and commuter corridor. CVS enjoys excellent visibility, frontage, signage, and access in the center of Bartonville. The site is close to the town’s municipal offices, area schools, national and local retailers,...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
Major thoroughfare
Strategically located
Major MSA
Recently extended lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Bartonville, Illinois Zip Code 61607 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

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