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Views: 194 DOM: 714 Updated: 08.06.24 Posted: 12.01.22 Status: Active

Summary

Price $8,523,000
Built/Renov 2009
Tenant CVS Pharmacy
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,420
Lease Start 07-01-2010
#Units 9,395
Price/SF $635.10
Expiration 01-31-2035
Tenant Type Pharmacy
NOI $447,455
R. Term 10.2
Ownership Fee Simple
Rent/SF $33.34
Increases 0.0%/0/yrs
Pop 5Mi 244,167
Lot/AC 1.78
Options 10/5yrs
AHHI 5Mi $73,810

Lease Highlights

  • CVS Pharmacy Inc. has approximately 10+ years remaining in their initial term with 10 (5-year) options to extend
  • Lease is Absolute NNN with zero landlord responsibilities
  • Corporate guaranteed lease by CVS Caremark Corporation
  • CVS is an investment grade tenant rated “BBB” by Standard & Poor’s

Location Description

The CVS is located near the signalized, hard corner intersection of West Wheatland Road and South Hampton Road, which serves a combined 32,200 vehicles per day. CVS is strategically located adjacent to Wheatland Towne Crossing, a 258,000 SF power center with notable tenants including Target, Ross, PetSmart, Dollar Tree, and more. Furthermore, the site is within proximity to numerous...

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Maps

  • 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 10,172 87,852 244,055
2022 Total Population : 10,097 88,069 244,167
2022 Employed Civilian Pop : 4,110 39,779 117,786
2022 Total Businesses : 281 2,859 6,636
2022 Average Household Income : $ 60,307 $ 62,294 $ 73,810
2022 Total Consumer Spending : $ 185 M $ 1727 M $ 5396 M
2022 Median Age : 34 35 35
2022 Total Households : 3,505 31,949 84,517
2022 Pop Age 25+: Bachelor's Degree : 844 6,843 22,891
2022 Average Home Value : $ 271,065 $ 233,791 $ 246,505
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Wheatland Rd Chrysalis Dr 2009 14,420 0.07 mi
S Hampton Rd I-20 Svc Rd 2009 16,950 0.08 mi
Autobahn Dr Stoneview Dr 2009 1,410 0.23 mi
I- 20 S Hampton Rd 2004 4,802 0.25 mi
I- 20 Svc Rd I-20 Svc Rd 2004 11,282 0.28 mi
W Wheatland Rd Hilloak Dr 2009 10,270 0.29 mi
S Hampton Rd I-20 Svc Rd 2001 32,189 0.30 mi
S Hampton Rd Chrysalis Dr 2009 19,190 0.35 mi
W Wheatland Rd Old Hickory Trl 2009 33,490 0.39 mi
Beckleymeade Ave Stoneview Dr 2002 2,130 0.49 mi

Listing Broker

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