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Views: 178 DOM: 422 Updated: 09.27.24 Posted: 09.26.23 Status: Active

Summary

Price $4,468,400
Built/Renov 2005
Tenant CVS Pharmacy
Cap Rate 8.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,108
Lease Start 01-09-2006
#Units 9,395
Price/SF $295.76
Expiration 01-31-2031
Tenant Type Pharmacy
NOI $379,811
R. Term 6.2
Ownership Fee Simple
Rent/SF $25.14
Increases 11.0%/8/yrs
Pop 5Mi 259,578
Lot/AC 1.72
Options 10/5yrs/11%
AHHI 5Mi $94,010

Lease Highlights

  • CVS has been operating in this location since 2006
  • Tenant currently has 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Lease features 11% rental increase during the first option and FMV for remaining options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by CVS Corporation (NYSE: CVS)

Location Description

The CVS, equipped with a drive-thru, is conveniently located at the signalized intersection of White Bear Avenue and County Rd. B E., which see a combined 25,611 vehicles passing by daily. The property is also adjacent to Starbucks and the YMCA. Nearby major nationals include The Home Depot, Target, Menards, Costco and more, creating a strong consumer drive to the trade area. The area boasts a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,427 100,464 261,074
2023 Total Population : 9,537 100,639 259,578
2023 Employed Civilian Pop : 5,039 52,694 131,350
2023 Total Businesses : 385 2,244 6,399
2023 Average Household Income : $ 89,663 $ 94,217 $ 94,010
2023 Total Consumer Spending : $ 274 M $ 2956 M $ 7751 M
2023 Median Age : 40 36 36
2023 Total Households : 3,548 36,255 95,220
2023 Pop Age 25+: Bachelor's Degree : 1,531 13,867 37,361
2023 Average Home Value : $ 326,528 $ 315,048 $ 339,874
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Co Rd B E Van Dyke St 2011 6,000 0.06 mi
Co Rd B E Prosperity Rd 2018 3,950 0.11 mi
White Bear Ave N Lark Ave 2019 24,700 0.13 mi
Van Dyke St Co Rd B E 2017 2,150 0.14 mi
White Bear Avenue North State Hwy 36 2021 23,610 0.14 mi
White Bear Ave N Co Rd B E 2015 21,600 0.16 mi
Cope Ave E Flandrau St 2017 4,250 0.21 mi
Cope Avenue East English St 2021 4,225 0.21 mi
County Road B East Hazel St 2018 4,950 0.22 mi
White Bear Ave Sherren Ave E 2011 20,000 0.24 mi

Listing Broker

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