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Views: 63 DOM: 56 Updated: 06.24.24 Posted: 05.17.24 Status: Active

Summary

Price $3,974,000
Built/Renov 2011
Tenant CVS Pharmacy
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,014
Lease Start 12-17-2010
#Units 9,395
Price/SF $330.78
Expiration 01-31-2036
Tenant Type Pharmacy
NOI $248,402
R. Term 11.6
Ownership Fee Simple
Rent/SF $20.68
Increases 0.0%/0/yrs
Pop 5Mi 27,364
Lot/AC 1.37
Options 10/5yrs
AHHI 5Mi $91,481

Lease Highlights

  • CVS Pharmacy has 11+ years remaining on the current lease term with 10 (5-year) options to extend
  • The lease features FMV rental escalations at the start of option 3 and for all remaining option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of Osborne Road and Charlie Smith Senior Highway, with access to a combined daily traffic count of 31,000 vehicles. The property is within close proximity to well-known national tenants, including Walmart Supercenter, Winn Dixie, Anytime Fitness, DaVita, Dollar Tree, Dollar General, and more. Additionally, it is just 3...

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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

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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