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CVS Pharmacy | Leasehold Interest
Retail | 11.57% CAP | 11,878 SF | Land Sublease Only
Listing Contacts
License: TX 767727
Active
Address
8000 Euclid Ave, Cleveland, OH 44103
Show on MapDate Added
Jan 9, 2025
Days on Market
75 days
Time Since Last Update
32 days
Details
Property TypeRetail
SubtypePharmacy/Drug
Investment TypeNet Lease
Lease TypeAbsolute NNN
Tenant CreditCredit Rated, Corporate Guarantee
TenancySingle
Brand/TenantCVS Pharmacy
Lease Term25.4 years
Lease Commencement09/04/2008
Lease Expiration01/30/2034
Remaining Term8.9 years
Square Footage11,878
Price/Sq Ft$168.38
Cap Rate11.57%
Occupancy100%
NOI$231,391
Units1
Year Built2007
Buildings1
Lot Size (acres)1.74
Rent Bumps5% Every 10 Years
Lease OptionsFour (4), 5-Year; 5%
OwnershipLand Sublease Only
Marketing Description
Trinity Real Estate Investment Services is pleased to present the opportunity to acquire a CVS Pharmacy in Cleveland, OH. The subject property is located in a dense retail area with demographics of 271K+ residents in a 5-mile radius.
Cooperating Broker: Brian Brockman
Bang Realty, Inc | OH #BRK.2009000214
bor@bangrealty.com | (513) 898-1551
Property Website: https://trinityreis.com/properties/property/?title=CVS%20Pharmacy&id=1392533
Investment Highlights
-
CVS Pharmacy With 9+ Years Remaining
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Property is Currently a Zero Cash Flow Deal With Pricing Based on Seller Defeasing the Existing Loan at Closing
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Long Operating Tenant, Rent Commenced 2008
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Extremely Dense 5-Mile Demographics With Over 271K+ Residents
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Located Along Euclid Ave With a Daily Traffic Count of 11,090+ VPD
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CVS is the Largest Company That has Operations Solely in the United States, Operating Close to 10,000 Stores Throughout the Country
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Cleveland is Home to Several Major Cultural Institutions, Including the Cleveland Museum of Art and the Cleveland Museum of Natural History
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$231,391.00
$19,282.58/mo
Valuation Metrics
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0
DSCR
11.57%
Cap Rate
11.57%
ROI
Property History
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Due Diligence
Listing Contacts
- License: TX 767727
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Broker Information
Broker Name
Brian Brockman
Broker License
OH #BRK.2009000214
Brokerage Name
Bang Realty, Inc
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