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Views: 79 Updated: 09.26.24 Posted: 05.21.24 Status: Inactive

Summary

Price $4,375,900
Built/Renov 2015
Tenant CVS Pharmacy
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 11,945
Lease Start 08-24-2015
#Units 9,395
Price/SF $429.24
Expiration 01-31-2041
Tenant Type Pharmacy
NOI $328,145
R. Term 16.3
Ownership Fee Simple
Rent/SF $27.47
Increases 5.0%/17/yrs
Pop 5Mi 10,817
Lot/AC 1.49
Options 5/5yrs/5%
AHHI 5Mi $77,619

Lease Highlights

  • CVS has 16+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of S State Street and E Carpenter Street with access to 22,750 vehicles per day. The property is within close proximity to numerous national/credit tenants including Domino’s, Dairy Queen, Dollar General, McDonalds and Auto zone. Additionally, the tenant is less than 2 miles from Jersey Community Hospital providing a...

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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 and...


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Listing Broker

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