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Views: 24 DOM: 61 Updated: 03.23.23 Posted: 03.04.23 Status: Sold 05.05.23

Summary

Price $1,525,000 $1,900,000
Built/Renov 1995
Tenant CVS
Cap Rate 11.24% 9.02%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,922
Lease Start 03-03-1997
#Units 9,900
Price/SF $139.63 $173.96
Expiration 03-31-2027
Tenant Type Pharmacy
NOI $171,342
R. Term 2.3
Ownership Fee Simple
Rent/SF $15.69
Increases 0.0%/0/yrs
Pop 5Mi 161,660
Lot/AC 1.11
Options 4/5yrs
AHHI 5Mi $80,970

Lease Highlights

  • CVS Pharmacy has a 25+ year operating history at this location
  • There are approximately 4 years remaining on the current lease with 4 (5-year) option to extend
  • Lease features no rental increases
  • Absolute NNN lease | No landlord resposibilities
  • CVS Pharmacy is an investment grade tenant (S&P: BBB)

Location Description

CVS Pharmacy is strategically located at the hard corner intersection of West Huron Street (M-59) and North Lynn Street with access to a combined 38,400 vehicles per day. Located in a dense retail corridor, CVS is within proximity to national/credit tenants including Walgreens, Advance Auto Parts, Dollar Tree, 7-Eleven, Wendys, Dollar General and many more. Additionally, the site is near...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS
  • Guarantor:Corp T and Rated
  • Company:CVS Corporation
  • # Units:9,900
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • Stock:NYSE: CVS

About Tenant

CVS Health Corporation (previously CVS Corporation and CVS Caremark Corporation) is an integrated American healthcare company that owns CVS Pharmacy a retail pharmacy chain, CVS Caremark, a...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,216 69,557 162,096
2023 Total Population : 9,252 69,606 162,888
2023 Employed Civilian Pop : 4,338 32,068 77,178
2023 Total Businesses : 318 2,586 5,716
2023 Average Household Income : $ 82,476 $ 85,146 $ 102,478
2023 Total Consumer Spending : $ 293 M $ 2168 M $ 6006 M
2023 Median Age : 40 40 41
2023 Total Households : 4,054 29,174 67,635
2023 Pop Age 25+: Bachelor's Degree : 1,277 8,784 23,021
2023 Average Home Value : $ 269,747 $ 330,149 $ 363,785
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Huron St S Lynn St 2017 28,871 0.06 mi
M 59 S Josephine Ave 2021 17,724 0.14 mi
M 59 W Huron St 2021 3,060 0.15 mi
M 59 W Huron St 2021 2,404 0.15 mi
M 59 N Tilden Ave 2021 17,752 0.16 mi
N Josephine Ave la Salle St 2015 1,915 0.18 mi
S Josephine Ave Myrtle Dr 2015 2,030 0.18 mi
M 59 Preston Ave 2021 18,017 0.21 mi
100 FEET SE OF M-59 (WATERFORD TWP) W Huron St 2021 17,958 0.21 mi
M 59 Voorheis Rd 2021 28,832 0.24 mi

Listing Broker

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