Listed by Encore Real Estate Investment Services
$2,890,000
CVS Pharmacy
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,881
Cap Rate 5%
NOI $144,500
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Term 35.3
Lease Expiration 12/01/2039
Remaining Term 13.5
Rent Bumps Yes
Lease Options (10) Five Year Options
Price per SqFt $266
Year Built 2004
Buildings 1
Acreage 1.510
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2004
Corporate CVS Guaranty w/ Over 15 Years of Firm Lease Term Remaining
Investment highlights
Absolute "NNN" Net Lease - Zero Landlord Responsibilities
Corporate CVS Guaranty w/ Over 15 Years of Firm Lease Term Remaining
Massive Rent Increase | Rare 61.95% Rental Increase In First Option Period
Rare Low Price Point CVS
CVS Recently Executed 20 Year Lease Extension w/(10) Five Year Option Periods
Long Term Occupancy - CVS Has Occupied Location Since 2004
Prototype CVS Building w/ Drive-Thru Located At Hard Signalized Intersection
CVS Health Inc. Investment Grade Credit - S&P Rate: BBB | Publicly Traded NYSE: CVS
In 2021, CVS Health Was Ranked 4th on The Fortune 500 List & Over 9,900 Locations
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$144,500.00
$12,041.67/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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